India has 25 days of crude oil stock, say sources as Iran closes Strait of Hormuz

India is in a comfortable position regarding crude oil and gas supplies despite escalating tensions in West Asia, government sources said, as Iran announced the closure of the Strait of Hormuz following US and Israeli air strikes.

“We are in reasonably comfortable position as far as crude oil, LPG, and LNGs are concerned. We have a stock of 25 days of reserve for crude oil and 25 days of products that are in transit,” a source said.

Last month, Petroleum Minister Hardeep Singh Puri told the Rajya Sabha that India’s strategic petroleum reserves could last 74 days in case of global turbulence. He said reserves are calculated not only in underground caverns but also in refineries, with storage facilities located in Andhra Pradesh and Karnataka, and plans to begin operations in Odisha.

Concerns over an energy crisis intensified after Iran shut the Strait of Hormuz, a key transit route for about one-fifth of global oil trade. Iran had announced its intention to close the strait hours after its Supreme Leader, Ali Khamenei, and several top military leaders were killed in air strikes.

Ebrahim Jabbari, advisor to the chief commander of the Islamic Revolutionary Guard Corps, warned that any vessel attempting to pass would face a serious and decisive encounter. He said Iran would also disable regional pipelines and prevent oil exports.

Since the closure, nearly 90 percent of crude traffic has been disrupted. From over 100 vessels daily, only three tankers crossed on Sunday and one on Monday. At least six ships were hit while attempting passage, and more than 700 tankers are currently stranded on both sides of the strait.