US EditionSaudi Aramco Letter Reveals Oil Market Chaos Amid Iran Conflict
Iran’s actions have halted about 20% of global oil and LNG flows, causing refinery shutdowns and large price spikes across the Gulf and beyond.
- On March 12, Iran fired drones and missiles at ships in the Strait of Hormuz, effectively shutting down around 20% of global oil and LNG supplies to refiners and energy-intensive industries worldwide.
- Ongoing conflict between Iran, the United States, and Israel drives this energy blockade; industry observers warn that while the war could end at any time, Tehran holds the final say on the disruption's duration.
- Middle East output cuts now stand at 7-10 million barrels per day, causing oil and gas prices to surge by as much as 60%, while Qatar fully suspended LNG production, cutting 20% of global supplies.
- The International Energy Agency agreed to a 400-million-barrel emergency oil release to counter the shock, while Saudi Aramco informed buyers it could not confirm April export ports, revealing market uncertainty.
- President Donald Trump proposed sending naval escorts to secure the Strait of Hormuz, but Gulf industry officials argue these measures will fail unless Iran guarantees safe passage and halts its ongoing attacks.
16 Articles
16 Articles
Assessment within and outside the Middle East is that Iran will have the final word on interruption in supplying oil
Iran's de facto blockade of the Strait of Hormus causes oil shortages worldwide. Many countries are now activating oil reserves. But what's the point?
Times of India
The Economic TimesIran holds the key: Aramco signals uncertainty in Gulf oil exports amid Strait shutdown
The international energy landscape is in turmoil as Iran's maneuvers in the Strait of Hormuz complicate oil and gas supply lines. With Saudi Aramco and other key players scaling back production, the flow of shipping remains fraught with risk. The future stability of the market hinges on Iran's decisions, going beyond mere promises for peace.
Global Situational Awareness: Gulf conflict escalation and economic impact - Security On Screen by The Security Industry Group
Geopolitical intelligence risk advisory firm Global Situational Awareness has released a daily update for March 16, detail the regional conflict between Israel, the United States and Iran, which has entered its third week, with attacks spreading across the Gulf and the Levant. Qatar’s Foreign Ministry says Iranian strikes have targeted residential areas and Hamad International Airport, contradicting […]
Gulf states Conflict Pushes Oil and Global Commodities to the Brink
The ongoing Iran war is sending shockwaves far beyond crude oil markets, disrupting key global supply chains and straining industries dependent on Gulf exports. Since the US-Israeli strikes began three weeks ago, the Strait of Hormuz remains largely closed, trapping 10–15% of the world’s oil supply. Brent crude briefly touched $106 a barrel on March 16, 2026, its highest since mid-2022. But oil is only part of the story. The Gulf states supply a…
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