Missiles strike energy facilities in the Middle East Recent conflicts in the Middle East have either spared energy infrastructure or caused limited damage. That isn't the case in the U.S.-Israeli war with Iran. Members of the Israeli security forces checked the remains of an Iranian ballistic missile near Qatzrin, Golan Heights, Israel. The Middle East conflict has escalated, with energy facilities now under attack. Unlike past conflicts, this war has seen strikes on major oil refineries and liquefied natural gas (LNG) facilities across multiple countries. New drone strikes hit a major oil refinery in Bahrain on Thursday, according to the Bahrain News Agency. Iran is accused of launching the attacks, though the country has blamed Israel for hitting a Saudi Arabian refinery. In less than a week, energy infrastructure in at least six countries has been targeted. Refineries in Bahrain, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates have reported damage. Qatar’s Ras Laffan LNG facility, the world’s largest, was also struck. State-owned QatarEnergy halted production after the attack and declared force majeure, a legal term excusing the company from contractual obligations. This disruption could delay LNG shipments to Asia and Europe for weeks. Israel has also paused some offshore natural gas production. Global LNG supply chains are facing unprecedented strain. About a fifth of the world’s LNG comes from Qatar, a key supplier to Asian and European markets. While oil markets are oversupplied, natural gas and LNG remain tight, especially as winter ends in the Northern Hemisphere and storage levels in Europe remain low. Experts warn the impact of these strikes could rival the effects of Russia’s 2022 invasion of Ukraine.#iran #israel #qatar #bahrain #qatarenergy
Five Ways the Iran Conflict Could Affect You - In Charts The escalating conflict involving Iran has triggered a cascade of consequences that extend far beyond the Middle East, impacting global energy markets, shipping routes, and everyday consumer costs. As tensions rise, concerns are mounting about how everyday life could be affected, from fuel prices to grocery bills. Here are five key ways the conflict might shape daily life. Petrol and diesel prices have already begun to climb as disruptions in oil and gas production and transportation across the region have slowed or halted operations. In the UK, the average cost of petrol reached 132.14p per litre, while diesel averaged 142.15p per litre, according to recent data. The RAC reported a 3p increase in petrol prices and a 5p rise in diesel prices between Saturday and Thursday. In the US, petrol prices rose by about 23 cents per gallon, and diesel prices increased by 41 cents over the same period. These increases, while notable, remain below the sharp spikes seen during the 2022 Russia-Ukraine war, when UK petrol prices surged by over 43p per litre and US prices peaked at more than $5 per gallon. The crisis has also led to a dramatic rise in UK gas prices, which have nearly doubled in less than a week. The benchmark gas price surpassed 165p per therm on Tuesday, a level not seen since the start of the Ukraine war. While this is significantly lower than the 600p per therm peak in 2022, the UK government’s energy price cap remains at its current level until July. If gas prices continue to rise, the cap could increase, leading to higher energy bills for households. Shipping costs are also on the rise, with the Strait of Hormuz—critical for global oil and fertiliser transport—experiencing near-complete blockages.#strait_of_hormuz #iran_conflict #uk_petrol_prices #us_petrol_prices #qatarenergy
