US President Donald Trump has extended the deadline for Iran to reopen the Strait of Hormuz to April 6, saying he would hold off on strikes targeting Iran’s energy infrastructure, easing immediate concerns of disruption to global oil supplies.
The announcement led to a pullback in crude prices after a recent spike driven by fears of a prolonged blockade of the Strait, a critical route for global energy trade.
For India, which imports a large share of its crude oil through the Strait of Hormuz, the development offers short-term relief by keeping supplies uninterrupted and moderating import costs.
However, uncertainty persists as Iran continues to exercise control over access to the waterway. Any escalation in the conflict could still disrupt shipping, increase freight and insurance costs, and push up India’s overall import bill.
The extension comes even as tensions remain high, with continued military build-up in the region, Israeli operations in southern Lebanon, and reports of missile exchanges and strikes across multiple locations.
