The U.S.-Israel war on Iran has disrupted oil and natural gas exports from the Middle East and forced production stoppages from Qatar to Iraq.
Below are the main energy disruptions so far.
OPEC's second-largest producer, Iraq, slashes output: Iraq has cut nearly 1.5 million barrels per day - about half of its output - due to storage limits and the lack of an export route, officials told Reuters. They said the country may have to shut 3 million bpd, nearly all of its output, within days if exports do not resume.
QatarEnergy LNG halted: Qatar stopped operations at its LNG facilities on Monday, affecting some of the world's largest plants and a source that supplies about 20% of global LNG. QatarEnergy also suspended parts of downstream output on Tuesday. It declared force majeure on LNG shipments on March 4.
Saudi disruptions: Saudi Arabia, the world's top oil exporter, suspended output at its 550,000 bpd Ras Tanura refinery and has begun rerouting crude loadings from eastern ports to Yanbu on the Red Sea. The refinery was struck again on March 4, without sustaining damage, the Saudi defence ministry said.
Other outages: Israel and Iraq's Kurdistan region also curtailed parts of their oil and gas production.
There was also a fire caused by debris at the UAE's Fujairah port, a key global oil storage and bunkering hub.
Strait of Hormuz: traffic through the Strait was largelyclosed after Iran attacked at least five ships, with a limited number of tankers transiting, choking off a key artery accounting for about 20% of global oil and LNG supply.
Iran declares the Strait closed: A senior Iranian Revolutionary Guards official said on March 2 that the Strait of Hormuz was closed and warned that Iran would fire on any ship attempting to pass.
War risk insurance cancelled: Major marine insurers are cancelling war-risk coverage for vessels operating in Iranian, Gulf and adjacent waters.
US offers assurances: Trump said the U.S. Navy could escort tankers through the Strait and directed the U.S. International Development Finance Corporation to provide political-risk insurance and financial guarantees for Gulf shipping, though shipowners and analysts doubt this will be enough.
China cuts refinery runs: Chinese refiners are shutting crude units or advancing planned maintenance due to disrupted crude flows.
India seeks alternatives: India is looking for substitute sources of crude, LPG and LNG to prepare itself if the crisis extends beyond 10–15 days, a government official said.
Indonesia shifts sourcing: Indonesia plans to increase U.S. crude imports to offset reduced Middle East supply.
Alternative supplies: Cargoes from Brazil, West Africa and the U.S. are possible but take over a month to reach Asia and are costlier amid soaring freight rates, traders said.
