Prime Minister Narendra Modi is set to visit the UAE to discuss long-term energy supply arrangements and ways to expand India’s strategic oil reserves. Sources say the trip seeks to reduce exposure to disruptions tied to global conflicts. Modi will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan to explore deeper energy cooperation and broader bilateral issues during a wider five-nation tour.
Pakistan’s Petroleum Minister Musadik Malik admitted on live television that the country holds only a few days of crude supplies, with stock estimated at roughly five to seven days. He contrasted this with India’s reported reserve buffer of 60 to 70 days. Malik further acknowledged Pakistan has no strategic petrol reserves even for a single day, exposing acute energy vulnerability.
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Global oil markets are roiled after a four-year high as the Iran conflict disrupts shipping, lifts transport costs, and drives volatile crude prices. In the US, Strategic Petroleum Reserve levels fall even while exports rise. Natural gas futures climb, while Waha Hub prices remain negative due to pipeline constraints, underscoring supply-demand imbalances.
As the Iran war deepens, an oil shock is rippling through global markets. Governments are moving to energy-saving measures while nations reliant on oil imports via a troubled strait face tighter supplies. With low reserves heightening vulnerability, prices are climbing across industries, hitting low-income households hardest as daily costs jump faster than wages.
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