Soaring oil prices and supply disruptions: The ripple effect of the U.S.-Israel attack on Iran

2026-03-05 - 12:43

With Iran targeting U.S. bases in other countries in the West Asian region, the U.S.-Israel attack has created a massive ripple effect extending well beyond the region, threatening global energy security. Following a drone attack from Iran on Monday, Qatar halted the production of liquefied natural gas at the world’s largest export facility. The suspension of operations across refineries in other Gulf nations such as Saudi Arabia and Iraq have also been announced. Oil and gas prices have surged following the closure of the Strait of Hormuz, a gateway to 20% of the world’s oil exports from the Gulf. A prolonged conflict would severely threaten energy security of several nations dependent on the region. Whether a country is involved in the fighting or miles away, the fallout is inescapable. In this video, we look at data to understand how the conflict threatens global energy security.