Overview
- Drone attacks set off a fire at Kuwait’s Mina Al-Ahmadi refinery as blasts over Dubai and shrapnel in Bahrain followed air defenses intercepting projectiles, while Saudi Arabia reported downing multiple drones over its Eastern Province.
- Israeli strikes hit targets in Iran overnight without directly targeting energy sites, after President Donald Trump said he told Prime Minister Benjamin Netanyahu not to repeat attacks on energy infrastructure and Netanyahu said Israel would hold off.
- Qatar’s energy minister reported a 17% loss of LNG export capacity from Ras Laffan, warned repairs will take three to five years, cited an expected $20 billion annual revenue hit, and said force majeure may apply to some long-term contracts.
- European leaders called for a moratorium on strikes against energy and water facilities and signaled readiness to reinforce naval missions, as the UK, European states, and Japan offered to help secure safe passage through the Strait of Hormuz.
- Oil and gas prices eased from midweek peaks but remain elevated after Brent briefly neared $119, with market volatility persisting even as reports detailed recent U.S. strikes on Iranian missile sites near the Strait of Hormuz.