US-Iran stalemate drives airstrikes, oil price rise; India calls for diplomacy

The United States and Iran remain locked in a “neither war nor peace” stalemate. Iran has repeatedly targeted commercial vessels in the Strait of Hormuz, a chokepoint for about 20% of global oil shipments, prompting the United States to launch a wave of airstrikes on Iranian air‑defence systems, missile depots and IRGC boats.

The exchanges have lifted global oil prices, intensifying domestic political pressure in Washington ahead of the midterm elections. Strategic commentator Brahma Chellaney notes that while the United States can strike at will, Iran’s geographic leverage lets it disrupt energy markets and increase political costs for the U.S.

Former Indian Union Minister Salman Khurshid said he expects a diplomatic settlement eventually, urging India to adopt a more proactive role rather than remain a passive observer. He highlighted the economic impact of the conflict on fuel availability and prices in India and the wider Asian region.