Global energy markets are facing renewed uncertainty as conflict in West Asia threatens oil supply routes through the Strait of Hormuz. In a major development, the United States has granted India a thirty-day waiver allowing continued purchases of Russian oil. The announcement was made by US Treasury Secretary Scott Bessent who said the decision is aimed at easing pressure on global markets while permitting transactions involving Russian crude already at sea. Indian officials say the country’s energy position remains stable with nearly two months of stock and diversified supply chains. At the same time, Australia and Canada have reportedly offered additional gas supplies to India as a precautionary step amid escalating tensions in the Gulf. With nearly forty percent of India’s crude imports passing through Hormuz, New Delhi is closely monitoring the situation while strengthening its energy security strategy.