Global energy markets were jolted on Wednesday after Iran carried out an attack on a major liquefied natural gas (LNG) facility in Qatar, triggering sharp increases in both oil and European natural gas prices and intensifying fears of prolonged supply disruptions. The strike hit Ras Laffan Industrial City, Qatar’s key energy hub and home to the world’s largest LNG export facility. Qatar has also halted LNG output at Ras Laffan following the attack, compounding supply pressures in global gas markets. The widening scope of attacks underscores the vulnerability of global energy infrastructure to geopolitical shocks. With a significant portion of the world’s oil and gas supply concentrated in the Middle East, any sustained disruption risks fueling further price volatility and exacerbating inflationary pressures worldwide.

Source: Daily News Egypt March 18, 2026 22:01 UTC