Escalating Tensions Hit Key Energy Facilities
Just read about how attacks on Iran's South Pars gas field and Qatar's Ras Laffan LNG plant are escalating regional tensions and threatening global energy markets. South Pars supplies 80% of Iran's domestic gas, while Ras Laffan produces 20% of the world's LNG. These strikes have already spiked European gas prices to a 3-year high and pushed oil above $115/barrel. With Qatar expelling Iranian personnel and Gulf states warning their patience is limited, this conflict risks deepening the crisis, especially for vulnerable economies reliant on LNG. The damage to Ras Laffan may take months to repair, prolonging supply disruptions.
https://www.aljazeera.com/econ