India, March 1 -- With the US and Israel bombing Iran and reportedly eliminating at least two of its top officials, energy experts have expressed concerns over the latest crisis in West Asia to result in an immediate increase of about 5-10% in global oil prices. With the global oil market already showing volatility in the wake of the latest conflict in the region, experts are not ruling out the likelihood of a temporary disruption or a closure of the Strait of Hormuz-one of the key waterways of the world that links the Gulf to the Indian Ocean, which Iran has used as a leverage in times of crisis in the past. The latest information is that Iran is moving to block Hormuz.

The US Energy Information Administration (EIA) describes it as "one...