‘Difficult to speculate...': What Hardeep Singh Puri said on oil prices, supply amid Hormuz Strait closure tensions
Published 23 Jun 2025, 07:51 AM IST Union Minister Puri assures oil supply stability amid Israel-Iran tensions. (Bloomberg)
Union Minister Hardeep Singh Puri told ANI, "...It's very difficult to speculate on the price factor. The oil price for a long time was between 65 and 70. Then it was between 70 and 75...When the markets open on Monday, the consequences of the closure of the Strait of Hormuz will be factored in. But as I've been saying for a long time, enough oil is available in the global markets. More and more oil is coming on the global markets, particularly from the Western Hemisphere. Even traditional suppliers would be interested in keeping the supplies because they also need revenue. So hopefully the market will factor that in. The Modi government has, over the past several years, not only ensured the stability of supplies but also affordability. We will take all necessary measures to ensure that."
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