HONG KONG — The fallout from the U.S.-Israeli war with Iran and the effective closure of the Strait of Hormuz is being felt sharply in Asia, with authorities from New Delhi to Manila implementing emergency measures to shield consumers from mounting shortages and surging oil prices.
On Friday, people in Nepal lined up at gas-filling stations, carrying their empty, red cooking-gas cylinders as the country’s main oil company said it would only fill them halfway with LPG, or liquefied petroleum gas, as it tries to make stocks last longer.
Neighboring India, which is the world’s second-largest importer of LPG after China, is grappling with panic-buying among its own citizens amid wild swings in the price of international Brent crude oil, which as of early Friday was above $100 a barrel.
The unease highlights just how much a region dependent on oil from Gulf nations is affected by the Iran war, which the International
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