Iran-Israel Conflict Hits Oil, LNG Supply and Global Markets

Middle East Crisis, Iran vs Israel US War Top Updates: Ongoing tension in the Middle East Now a dangerous turn has been reached, where the war is not limited to just military confrontation, but seems to be turning into a global energy and security crisis. In Kuwait, there were drone attacks on operational units of Kuwait National Petroleum Company, although the fire was limited and there were no casualties. In the last 24 hours, Kuwait has claimed to have shot down 13 out of 18 enemy drones.

On the other hand, Qatar’s LNG capacity has suffered a major blow due to Iran’s attacks. According to the CEO of QatarEnergy, about 17% of LNG production capacity has been affected. Its repair may take 3 to 5 years. This could have a major impact on global gas supply. meanwhile Donald Trump Has advised Israeli Prime Minister Benjamin Netanyahu not to carry out further attacks on Iran’s gas fields, so that the tension does not increase further.

Top updates of Iran Vs Israel US War

  1. Iran’s Islamic Revolutionary Guard Corps claimed that it targeted an American F-35 fighter jet. However, America said that the plane has landed safely. Investigation is ongoing.
  2. A chemical tanker was attacked near Khor Fakkan near UAE, which caught fire and 15 crew members were rescued, while the captain is missing.
  3. There have also been reports of fire and damage to the electricity grid near Israel’s Haifa Refinery.
  4. Meanwhile, the crisis in the Strait of Hormuz is deepening. Thousands of ships and about 20,000 sailors are stranded due to Iran’s blockade, due to which the oil and gas supply is being badly affected.
  5. The stir has intensified at the international level also. Six countries—Britain, France, Germany, Japan, Italy and the Netherlands—have announced to unite for the security of this important sea route.
  6. America is considering additional funding of $200 billion for the war. He is planning to send more troops to the Middle East.
  7. India is also keeping an eye on the situation. Prime Minister Narendra Modi, while talking to the leaders of Oman and France, has emphasized on reducing tension and diplomatic solution.
  8. The US aircraft carrier Gerald R Ford, deployed for operations against Iran, was seen moving southwest in the Red Sea in satellite images on Tuesday. After the fire incident on the ship, it is expected to stay at some port for some time.
  9. Iran can impose tolls and taxes on ships passing through the Strait of Hormuz. This proposal has come from Iranian MPs. This may increase the prices of oil and gas.
  10. According to Iran’s state media ‘Press TV’, Iran launched the 64th wave of its ‘Operation True Promise 4’ against Israel. IRGC and Iranian army carried out several attacks under this operation. This operation was launched in response to the attack by America-Israel on 28 February.

It is clear from the entire incident that this conflict is no longer just regional, but is becoming a major threat to global energy, economy and security.

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