DOHA: Qatar has warned that continued hostilities involving Iran could lead Gulf nations to halt petroleum exports within a matter of weeks, posing serious risks to the global energy market.
Speaking to the Financial Times, Qatar’s Minister of State for Energy Affairs, Saad al‑Kaabi, said that prolonged conflict could force Gulf oil producers to stop shipments, particularly because of disruptions to key shipping lanes such as the Strait of Hormuz.
Al‑Kaabi highlighted that such a stoppage could push crude oil prices as high as $150 per barrel. He noted that even if hostilities were to cease immediately, it would take several months for Qatar’s largest liquefied natural gas (LNG) facility to return to full operational capacity.
The minister also cautioned that a sustained Middle East conflict could weaken global economies, causing higher energy costs and supply shortages that would ripple through industries and households worldwide.
Financial markets have already shown volatility amid the tensions, and analysts warn that an extended disruption of Gulf energy supplies could have far‑reaching consequences, affecting inflation, industrial output, and consumer energy prices globally.
