India has become the "superhero of the oil market"! Thanks to India, global oil prices remained under control even after the war, drawing praise from the US.

Amid rising tensions and war-like situations in the Middle East, concerns about oil prices had risen worldwide. There were fears that if supply were disrupted, petrol and diesel prices could rise sharply. However, this did not happen. The oil market remains largely balanced. Interestingly, the US has openly praised India's role in this. Let's find out the full story.

America's big statement: India has become a 'key player' in managing the oil market.

Amid rising global tensions and the looming threat to oil supplies, US Ambassador to India Sergio Gor has stated that India plays a crucial role in stabilizing the global oil market. He wrote on the social media platform X that India is one of the world's largest oil consumers and refiners. Therefore, it is crucial for the US and India to work together to maintain oil prices. Significantly, he acknowledged that India's purchase of oil from Russia is also a part of maintaining this balance. This statement has sparked renewed discussion about India's role in the global energy market.

Why did America allow India to buy Russian oil?

White House Press Secretary Caroline Leavitt stated in a media briefing that the escalating conflict in West Asia has put pressure on global oil supplies. This is why the US has temporarily allowed India to purchase Russian oil. She noted that India has previously halted purchases of banned Russian oil and is a trusted partner of the US. Leavitt added that this decision is only temporary and will not provide any significant economic benefit to Russia.

Add Zee News as a Preferred Source

30-day discount announced

Earlier, US Treasury Secretary Scott Bessent announced that India had been granted a 30-day exemption to purchase oil from Russia amid the ongoing conflict in West Asia. Experts believe this move was taken to control the sudden surge in global oil prices.

America issues stern warning to Iran

Meanwhile, US President Donald Trump has issued a stern warning to Iran. He stated that if Iran has laid landmines in the Strait of Hormuz, they should be removed immediately. Trump stated clearly that if this is not done, the US will not hesitate to take military action. The Strait of Hormuz is one of the world's most important oil routes, through which a large portion of the global oil supply passes.

Rising tensions in West Asia

The situation in West Asia is becoming increasingly tense. Reports indicate that Iran has retaliated with missile and drone attacks, targeting US military bases, embassies, and energy infrastructure. These attacks are reported to have taken place in countries such as the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, and Jordan. This entire development threatens to increase instability in the global energy market.