Critical energy infrastructure in Israel and Iran has not escaped unscathed from the first few days of the countries' escalated conflict. Worst-case scenarios have yet to be realized, but the war is already having a notable impact on energy production and exports in both countries.

It is worth noting that a $10-per-barrel increase in crude oil prices could raise India’s oil import bill by $12–13 billion annually and widen the current account deficit (CAD) by approximately 0.3% of GDP, leading to depreciation of the rupee, which has already fallen to ₹86 per US dollar.