New Delhi, March 15 -- Indian benchmark indices have seen sharp swings as global concerns weigh on risk appetite. Heightened tensions in the Middle East have contributed to a notable decline in domestic equities by disrupting global energy markets and pushing crude oil prices materially higher (at one point rising about 30% to above $110 per barrel). A key risk is potential disruption in the Strait of Hormuz, through which an estimated 20%-30% of global oil shipments transit. The implications for India are significant, given that a large share of its energy imports route through this corridor. At present, government reserves are estimated at roughly two months of crude and less than one month of gas. Prolonged disruption could therefore r...