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A fast-escalating Gulf crisis hits energy infrastructure: Israel struck Iran's South Pars gas field, Iran's fighters hit Qatar's Ras Laffan, oil prices jump, and the US threatens heavy retaliation. Regional tensions rise as Saudi, Kuwait, China and Western capitals react.
Rising violence in the Middle East pushes Brent toward $115-$116 a barrel, spikes gas prices and drags European markets lower. Yields and spreads tick up as investors brace for central bank signals.
Iran's moves around the Strait of Hormuz are disrupting almost 20% of world oil flows. Energy prices are spiking, and that raises the real risk of higher inflation, slower growth and even a global recession.
Matteo Salvini says Italy will protect its national interests over the Strait of Hormuz, rejects sending warships, and calls oil firms in to stop price speculation.
After the Iran conflict pushed oil prices higher, the US briefly allowed the sale of Russian oil that had been stuck on tankers. Here’s what that move means for Russia, and why the advantage may be smaller than it looks.
President Miguel Díaz-Canel says Cuban negotiators quietly met with US officials to try to ease an energy blockade that has left parts of the island without power and forced thousands of postponed surgeries.
In Vienna, Colombia’s President Gustavo Petro told U.N. drug officials that the War on Drugs has failed, warned that fentanyl threatens a generation, and argued that climate and energy policy must be central to any plan to save lives.
The IEA says the Iran conflict knocked out nearly 20 million bpd of exports and could cut global supply by 8 million bpd in March.
Middle East conflict has cut Gulf oil by ~10% of global demand; IEA orders 400M-barrel release but prices still spike above $100.
Von der Leyen warns 10 days of Middle East fighting raised EU fossil fuel bills by €3B; gas +50%, oil +27%. Time to fix grids, modernize ETS and stop relying on one supplier.
Analysts warn that Iran's strategic pressure on the Strait of Hormuz is creating a new reality for global oil and gas shipping, with ripple effects far beyond the region.
Qatar's energy minister warns that continued war with Iran could halt Gulf energy exports within weeks, triggering global economic turmoil and supply shortages.