New Delhi, March 17 -- Crude oil prices rose over 2% on Tuesday morning as the ongoing war in West Asia and fears of a prolonged disruption in the Strait of Hormuz pushed up global energy costs.

The spike underscores how geopolitical tensions can tighten supply and transmit price shocks to import-dependent economies like India, raising risks for inflation, fuel costs and household energy access.

At 7:43 am, the April contract of Brent crude on the Intercontinental Exchange was trading at $103.05 per barrel, up 2.83% from its previous close. The April contract of West Texas Intermediate (WTI) on NYMEX rose 2.61% to $95.94 a barrel.

Prices have also been lifted by concerns over a prolonged blockade of the Strait of Hormuz, with little tr...