Iran & S&P Global — CRISIL Ratings

Iran: Iran's effective closure of the Strait of Hormuz has caused a global energy crisis, driving up oil and gas prices and disrupting supply chains. The nation is also engaged in ongoing conflict with Israel and the United States, leading to economic sanctions and military actions.

S&P Global — CRISIL Ratings: S&P Global — CRISIL Ratings, an India-based credit rating agency, expects further small price increases in retail oil prices in India, leading to wider economic impact.