US-Israel Strikes Iran, Gulf Oil Disrupted

Joint military strikes by the United States and Israel on Iran, followed by Iran's retaliatory missile attacks across the Gulf, have plunged the Middle East into a widening conflict. This has severely disrupted global oil exports from the region, which accounts for 20% of global supplies. While no confirmed damage to oil and gas infrastructure has occurred, the threat and uncertainty are enough to impact flows, particularly through the Strait of Hormuz. Brent Crude prices have already risen, and further increases are expected. Major oil exporters like the United Arab Emirates, Kuwait, and Qatar have reported explosions or intercepted missiles. Saudi Arabia and OPEC are preparing to increase production to mitigate supply risks, but prolonged conflict could negate these efforts. The scale of the strikes and Donald Trump's rhetoric suggest a sustained military campaign, raising concerns about further escalation targeting energy facilities.