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Strategic oil release may calm markets but cannot fix Hormuz disruption

March 15, 2026

Hundreds of tankers sit idle on both sides of the Strait of Hormuz as Iran has effectively closed the waterway, pushing oil prices above $100 – the highest since 2022, after the start of the Russia-Ukraine war. Oil tanker traffic in the strait, through which one-fifth of global oil passes, has plunged after Israel and the United States launched attacks on Tehran on February 28. Asian countries, including...

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Party insiders say the move gained traction after Mamata Banerjee’s defeat in West Bengal and MK Stalin’s loss in Tamil Nadu. I-PAC …

The meeting reviewed the progress of key water-related projects, with the Chief Minister directing officials to ensure there is no lapse in …