New Delhi, March 3 -- India currently has around 100 million barrels of commercial crude oil secured. This oil is not all stored in one place. Some of it is kept in large storage tanks, some in underground strategic reserves, while the rest is already loaded on ships voyaging towards the country.

This becomes important if oil flows through the Strait of Hormuz are disrupted. The Hormuz is a narrow but crucial sea route through which a large share of the world's shipments pass. As recent geopolitical tensions have threatened to slow or stop traffic there, countries that rely on Middle East oil, including India, could face supply problems.

As the US and Israel escalate military operations against Iran, global markets are bracing for the s...