Grey Havoc
ACCESS: USAP
- Joined
- 9 October 2009
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https://www.telegraph.co.uk/world-news/2026/03/06/iran-war-latest-news-trump-israel-hezbollah/
https://www.telegraph.co.uk/business/2026/03/06/oil-gas-uk-us-iran-ftse-100-markets-latest/
https://www.telegraph.co.uk/business/2026/03/06/oil-gas-uk-us-iran-ftse-100-markets-latest/
Qatar’s energy minister has warned that an energy crisis triggered by the Iran conflict could “bring down the economies of the world”.
Saad al-Kaabi predicted that all exporters in the Middle East would shut down production within weeks as a result of the war.
Oil prices jumped by more than 4pc after he forecast the crisis would push up the price of a barrel of crude to more than $150, dragging down growth in global economies. Brent, the international benchmark, surpassed $89 on Friday for the first time in two years.
Mr Kaabi said it would take Qatar “weeks to months” to ramp up delivers to normal levels even if the war ended immediately, he told The Financial Times.
Qatar, the world’s second-largest producer of liquefied natural gas plant (LNG), was forced to halt output at its Ras Laffan plant following Iranian drone strikes.
It declared force majeure this week, excusing it from fulfilling its contractual obligations after the suspension of production.
Qatar supplies around 1pc of UK gas but is a major supplier to Asia.
European natural gas prices have this week risen at their fastest pace since Russia’s invasion of Ukraine in 2022, which triggered a global energy shock.
“This will bring down the economies of the world,” Mr Kaabi said.
“If this war continues for a few weeks, GDP growth around the world will be impacted. Everybody’s energy price is going to go higher.
“There will be shortages of some products and there will be a chain reaction of factories that cannot supply.”