US EditionIran Targets Gulf Energy Sites as Oil Nears $110
Gulf countries cut at least 10 million barrels per day amid halted shipping and attacks on energy infrastructure, causing a historic global oil supply shock, the International Energy Agency said.
- On Thursday, March 19, 2026, the International Energy Agency said the Iran war caused the largest supply disruption, removing roughly 20% of global oil flows.
- After U.S.-Israeli strikes on February 28, Iranian attacks and tanker strikes slowed Strait of Hormuz traffic to a near-standstill, erasing about 20 million barrels a day.
- The IEA predicted global oil supply will plunge by 8 million barrels a day this month, and IEA's 32 member countries agreed to unlock 400 million barrels from reserves, the largest release ever.
- Rising global prices mean U.S. consumers pay $3.63 a gallon, and European gas prices surged by 50%, the IEA said.
- The IEA cautioned that shut-ins risk corrosion requiring repairs before full resumption, while Qatar's energy minister warned exports could take weeks to months to return.
185 Articles
185 Articles
The surge in global crude oil prices continued on Thursday after Qatar reported “extensive damage” from an Iranian attack on its energy infrastructure.
Brent crude oil prices surged above $115 a barrel as Tehran threatened to attack regional facilities after Israel attacked an area serving the giant South Pars gas field, which Iran shares with Qatar. Iranian missiles hit Ras Laffan in Qatar, the world's largest liquefied natural gas hub, causing widespread damage and fueling concerns about...
Oil and natural gas prices jump following strikes on Middle East energy hubs
Oil and natural gas prices spiked Thursday, as Iran ramped up strikes on energy infrastructure across the Middle East and attacked one of the world’s most important liquefied natural gas (LNG) facilities in Qatar.
Daily Journal
Iran hits back at multiple Gulf refineries after Israeli strike on its offshore gas field
Iran is intensifying its attacks on its Gulf Arab neighbors’ energy infrastructure as it hits back following an Israeli attack on its main natural gas field. Thursday strikes set Qatari liquefied natural gas facilities and two Kuwaiti oil refineries ablaze…
Oil and natural gas prices soar as Iran attacks Gulf energy facilities. Brent crude nears $114
Global oil and natural gas prices have soared after Iran attacked a key natural gas facility in Qatar that can supply one-fifth of the world's gas, and two oil refineries in Kuwait. The attacks raised fears the energy crisis triggered…
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