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The Winners and Losers of the Iran War, One Week in
Strikes disrupted passage through the Strait of Hormuz, leading Qatar to halt LNG exports and Saudi Arabia to close a refinery, causing oil prices to rise sharply.
- This past week, the United States and Israel struck Iran, disrupting global energy markets as Iran blocked access to the Strait of Hormuz, which carries more than 16 million barrels daily, while Qatar halted LNG exports and Saudi Arabia closed a key refinery.
- Attacks on commercial vessels and refineries have escalated, with the U.S. International Development Finance Corporation saying March 6 it will offer subsidized maritime reinsurance and coordinate with U.S. Treasury and CENTCOM to secure shipments.
- Operationally, shutting oil and gas wells can cause equipment failures and geological problems, meaning lost capacity may take weeks to restore and could become permanent, while storage filling can force production shutoffs, creating a chain reaction that trims output further.
- Fuel prices are surging, with U.S. average gasoline price up more than 60 cents since January, while Asian and European economies face sharper effects relying on OPEC oil and Qatari gas.
- The conflict will hasten a shift toward domestic and diversified energy as countries shift energy policy, but trade fragmentation risks cutting clean-tech investment by 30%, the International Monetary Fund warned.
13 Articles
13 Articles
When Cheap Drones Drain Expensive Defences
Four days is not long in war, but it is long enough for a bad assumption to snap. The February 28 joint United States and Israeli strikes on Iran were built on the classic hope that shock and decapitation would end the fight fast. Reporting since the opening night says Iran’s Supreme Leader Ayatollah Ali […] The post When Cheap Drones Drain Expensive Defences appeared first on Modern Diplomacy.
War in Iran Will Force a Rethink on Where Energy Comes From
It’s been less than a week since the U.S. and Israel struck Iran and turned energy markets upside down. The price of oil jumped quickly and has risen steadily as the prospect of a longer conflagration grows more likely. Qatar has stopped exports of liquified natural gas (LNG) and Saudi Arabia has turned off a key refinery. It’s unclear how this moment may come to an end. [time-brightcove not-tgx=”true”] But, no matter what happens in the coming …
Iran war oil price rise makes affordability bigger issue
U.S. President Donald Trump points his finger as he arrives to deliver remarks on the U.S. economy and affordability at the Mount Airy Casino Resort in Mount Pocono, Pennsylvania, U.S. December 9, 2025. Jonathan Ernst | Reuters November’s midterm elections were always supposed to be about affordability. Then, the bombs began falling in Iran. The expanding U.S. war in the Middle East threatens to scramble the cost-of-living narrative that has so…
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