Dire straits: Hormuz flare-up underscores precariousness of US-Iran MoU; oil market on edge Written by: Sukalp Sharma New DelhiJul 8, 2026 06:35 PM IST

Dire straits: Hormuz flare-up underscores precariousness of US-Iran MoU; oil market on edge Strait of Hormuz tensions have resurfaced after fresh US-Iran hostilities, raising concerns over oil prices, global shipping, and India's energy imports. Written by: Sukalp Sharma 8 min readNew DelhiJul 8, 2026 06:35 PM IST https://indianexpress.com/article/explained/explained-economics/strait-hormuz-tensions-us-iran-oil-prices-india-10777668/?ref=explained_hp