Qatar stated Wednesday that Iranian missiles induced “in depth injury” at Ras Laffan Industrial Metropolis, residence to the most important liquefied pure fuel, or LNG, export facility on this planet.
Qatar’s International Ministry denounced the assault as a “harmful escalation, flagrant violation of state sovereignty, and a direct menace to its nationwide safety and regional stability.”
Qatar reserves the fitting to reply in accordance with the fitting to self-defense assured beneath worldwide legislation, the International Ministry stated in a assertion.
Brent crude costs, the worldwide benchmark, surged greater than 7% to $111.23 by 4:52 p.m. ET.
U.S. West Texas Intermediate crude was up about 4% at $100.04.
QatarEnergy’s liquefied pure fuel manufacturing services, amid the U.S.-Israeli battle with Iran, in Ras Laffan Industrial Metropolis, Qatar, March 2, 2026.
Stringer | Reuters
Iran’s Revolutionary Guard had threatened to assault power services in Qatar, Saudi Arabia and the United Arab Emirates after Israel bombed a pure fuel processing facility in Iran.
Emergency groups have been deployed to comprise fires at Ras Laffan, in keeping with a social media submit from state-owned QatarEnergy. No casualties have been reported. Qatar’s Inside Ministry later stated the fireplace on the facility had initially been introduced beneath management.
Qatar halted LNG manufacturing on March 2 attributable to Iranian drone strikes at Ras Laffan and Mesaieed Industrial Metropolis. The Gulf state is the second-largest LNG exporter on this planet, after the U.S. Qatar accounts for practically 20% of world LNG exports, in keeping with information from power consulting agency Kpler.
The escalating assaults on Center East oil and fuel infrastructure threaten to accentuate the large power provide disruption triggered by the Iran conflict.
Oil tanker site visitors by way of the Strait of Hormuz has plunged attributable to Iranian assaults on industrial ships. The Strait is crucial commerce choke level for oil, with about 20% of world provides passing by way of it earlier than the conflict.
Brent costs may common $130 within the second and third quarter if there are broad assaults on power infrastructure and the Strait stays closed for a protracted interval, Citigroup analysts informed shoppers in a report on Wednesday.
