US EditionIranian Strikes on Qatar Sent Oil Surging 8% and USO Along With It
QatarEnergy declared force majeure after an Iranian drone attack halted Ras Laffan LNG production, which supplies 20% of global LNG, pushing European gas prices up 54%, analysts said.
- On March 3, QatarEnergy declared force majeure after the Ras Laffan LNG facility was targeted by Iranian drones, causing a shutdown that sent European gas benchmarks surging as much as 54%.
- Tankers largely stopped transiting the Strait of Hormuz since the weekend, choking regional shipments, while Golden Pass is due to start exports in the coming weeks but may not reach full capacity until 2027.
- Major importers such as Egypt are seeking additional LNG cargoes as Pakistan plans to restore domestic output to 350mn cubic feet per day and may buy 250mn from SOCAR, but contracts could limit availability.
- European gas inventories are unusually low and the region will need to import large volumes of LNG this summer to refill tanks, heightening exposure amid supply disruptions.
- The United Arab Emirates and Qatar are privately lobbying allies to persuade the United States to keep any military operations short, while Golden Pass may not reach full capacity until 2027, limiting near-term supply offsets.
32 Articles
32 Articles
The President of Kosovo, Vjosa Osmani, has announced that she held a conversation with the Emir of Qatar, Tamim bin Hamad Al Thani, following Iran's targeted attacks on this country. Through a public reaction, Osmani has strongly condemned the actions of the Iranian regime, describing them as a clear threat to regional peace, security and stability. "The actions of the Iranian regime constitute a clear threat to peace, security and stability in …
Iranian Strikes on Qatar Sent Oil Surging 8% and USO Along With It
Understandably, United States Oil Fund (NYSEARCA:USO) is going to be something the world keeps a close eye on this week, as the stock has surged 6.87% in the past week and is up 23% year-to-date. Today, the geopolitical pressure that has been building since January has become an active supply crisis, and now that Iranian ... Iranian Strikes on Qatar Sent Oil Surging 8% and USO Along With It
Iranian drone strikes shut down Qatar LNG production facilities, as energy prices surge | Fox Wilmington WSFX-TV
close Video JUST IN: Qatar Defense Ministry says it shot down two Iranian jets Qatar Defense Ministry says it shot down two Iranian jets that entered its airspace. NEWYou can now listen to Fox News articles! Iranian drone strikes forced Qatar to halt liquefied natural gas (LNG) production Monday, jolting global energy markets and raising fears about supply disruptions as Tehran increased its attacks on regional infrastructure. QatarEnergy, t…
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