India is expected to face oil price volatility and broader macroeconomic effects from the escalating Iran crisis, analysts said, adding the country's oil supply chain does not yet face structural insecurity. Rising tensions around the Strait of Hormuz - through which a significant share of India's crude and LNG imports transit - have already pushed Brent crude prices toward a seven-month high of USD 73 per barrel, adding a geopolitical risk premium to global energy markets and heightening inflation and current account pressures, even as physical supply disruption remains unlikely in the near term.