Middle East Energy Infrastructure Attacks

A geopolitical conflict in the Middle East has escalated into its third week, primarily involving Iran, the United States, and Israel. The conflict began with a joint United States-Israeli bombing of Iran on February 28, targeting the South Pars gas field. In retaliation, Iran launched drone and missile attacks on energy assets across the region, including Saudi Arabia's Saudi Aramco Mobil Refinery refinery, Qatar's Ras Laffan Industrial City, and Kuwaiti oil refineries. The United Arab Emirates also shut a gas facility due to falling debris. The United States President Donald Trump has called for restraint but also threatened severe retaliation if Iran continues attacks on Qatari assets. The Strait of Hormuz remains effectively shut, impacting global oil and LNG flows. This escalation has led to significant increases in Brent Crude and Natural gas prices, global equity losses, and concerns about inflation and economic growth. The conflict has resulted in thousands of casualties across the region.