Gulf energy attacks surge
Fires at Qatari facilities and aerial threats in Saudi Arabia sent oil and gas prices sharply higher this week — and former President Trump threatened Iran’s South Pars gas field, raising the risk of a wider regional conflagration. The U.S. has publicly urged Israel to stop striking Iranian energy sites while China offered to mediate and Iran-backed Houthis warned of attacks on Red Sea shipping — a real choke point for global trade. (cnn.com; nbcnews.com; reuters.com)
QatarEnergy said Iranian missile strikes on Ras Laffan Industrial City on March 18 caused “extensive damage” to core LNG processing units and deployed emergency teams to contain fires. (aljazeera.com)) Israel’s attack on facilities linked to Iran’s South Pars gas field was reported on March 18; independent estimates put recoverable reserves in South Pars at roughly 14–51 trillion cubic metres. (abc.net.au)) Benchmark Brent futures briefly hit about $119.13 per barrel on March 19 as traders reacted to Gulf strikes, while European TTF gas futures surged as much as 35% and were trading around €62.52/MWh on March 19. (bloomberg.com)) President Donald Trump on March 19 warned he would “massively blow up the entirety of the South Pars Gas Field” if Iran struck Qatari LNG again and said the U.S. had no prior knowledge of the Israeli strike, according to Politico and Forbes reporting. (politico.com)) U.S. officials had privately asked Israel on March 10 to halt strikes on Iranian energy infrastructure, Axios reported, a request framed as an effort to prevent escalation targeting Gulf energy hubs. (axios.com)) China’s foreign minister said Beijing would continue mediating the crisis and is dispatching a special Middle East envoy to press for a ceasefire, a diplomatic push Beijing announced on March 18. (usnews.com)) Yemen’s Iran‑aligned Houthi movement warned in mid‑March it could resume missile and drone strikes on commercial shipping and threaten the Bab el‑Mandeb Strait, prompting major carriers to reroute vessels around the Cape of Good Hope. (businesstoday.in))
