International energy markets remain sensitive to developments in the Middle East as US President Donald Trump has maintained that military action against Iran remains an option despite ongoing diplomatic and economic pressure. Oil prices were relatively steady on Friday but remained on course for a second consecutive weekly decline, as expectations of an immediate escalation eased following discussions surrounding the US blockade of Iran.
However, attacks on shipping and energy infrastructure continue to raise concerns over the security of important oil transportation routes, particularly the Strait of Hormuz. Any prolonged disruption could affect global energy supplies, shipping costs and international trade. The developments remain important for major oil-importing countries, including India, where changes in crude oil prices can influence inflation, the import bill and currency movements.
Source: Reuters / The Times of India | 13 November 2026
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