India has emerged as a key beneficiary of redirected crude oil shipments from Venezuela and Russia following a sharp disruption to global energy markets caused by the ongoing U.S.-Israel war on Iran. Tehran's near-total closure of the Strait of Hormuz (a critical chokepoint through which roughly a fifth of the world's oil passes) has sent oil prices surging and squeezed supplies worldwide. Shipping association BIMCO reports that global crude shipments dropped 16% after the conflict began compared with the first nine weeks of the year, underscoring the scale of the crisis and the strategic importance of alternative supply routes now flowing toward India.