Iran-Israel conflict disrupts global trade, impacting India's exports. Increased freight rates and uncertainties threaten Red Sea and Strait of Hormuz routes.

Despite not relying on Iran for its oil supplies, petrol and other prices in Australia will rise due to the global impact of the Israel–Iranian war.

The cost of crude oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.

The ongoing Israel Iran war has unleashed not only a massive aerial assault with missiles and drones causing heavy destruction in both the countries but could potentially impact global economy including India with whom the two have trade relations.

U.S. Energy Secretary Chris Wright said on Friday he and his team are working with the White House's National Security Council to monitor the situation in the Middle East and any potential impacts to global energy supply.

Israel unleashed airstrikes across Iran for a third day and threatened even greater force as some Iranian missiles evaded Israeli air defenses to strike buildings in the heart of the country