ras laffan

Middle East Conflict Drives Oil Prices Higher, Rattles Global Markets

DUBAI, United Arab Emirates – Escalating conflict in the Middle East sent oil prices surging Thursday, sparking concerns about global energy supplies and triggering a downturn in Chinese stock markets. Brent crude reached US$117 a barrel, a 60% increase since the start of U.S. and Israeli attacks on Iran on February 28.

The price jump followed an Israeli strike Wednesday on Iran’s South Pars gas field, a facility shared with Qatar. Iran’s response to the attack remains undisclosed as of Thursday afternoon.

The surge in oil prices is already impacting financial markets. Hong Kong’s Hang Seng Index and the mainland CSI 300 both experienced declines of approximately 2%. The volatility underscores the region’s critical role in global energy markets and the potential for wider economic repercussions.

Analysts are closely monitoring the situation, with many anticipating further price increases if the conflict expands. The United States-Israeli war on Iran is creating significant instability, according to reports.

The situation is being watched by governments worldwide, as disruptions to energy supplies could have far-reaching consequences for consumers and businesses globally.

Iranian Missile Strike Damages Major Qatari Energy Hub, Raising Global LNG Concerns

Doha, Qatar – A missile strike by Iran has caused “extensive damage” to Ras Laffan Industrial City in Qatar, home to the world’s largest liquefied natural gas (LNG) export facility, Qatari officials confirmed Wednesday. The attack sparked fires at the facility, though all staff have been accounted for and no casualties have been reported.

QatarEnergy announced the strike via social media, stating that emergency response teams were immediately deployed to contain the resulting fires. The incident comes after Iranian state media previously identified Ras Laffan as a potential target, urging evacuation.

The Ras Laffan facility is a critical component of global energy markets. Its disruption raises concerns about potential impacts on LNG supplies, particularly as demand remains high in Europe and Asia. Qatar suspended LNG production following a previous attack on the facility and a water tank at a power plant on March 2, according to Al Jazeera.

The attack underscores escalating tensions in the region following recent exchanges between Iran and its adversaries. While the full extent of the damage is still being assessed, the incident highlights the vulnerability of critical infrastructure in the Middle East.

This is a developing story and will be updated as more information becomes available.

Pétrole : Hausse des prix et baisse des actions chinoises

Middle East Conflict Drives Oil Prices Higher, Rattles Global Markets

Qatar : Attaque de la raffinerie de Ras Laffan

Iranian Missile Strike Damages Major Qatari Energy Hub, Raising Global LNG Concerns