$87 Now To $150 A Barrel In 2-3 Weeks: Qatar's Big Oil Warning Amid Iran War
NDTV
"If this war continues for a few weeks, GDP growth will be hit," Qatar's energy minister said. (AI image)
"If this war continues for a few weeks, GDP growth will be hit," Qatar's energy minister said. (AI image) The rise in oil prices is being driven primarily by the closure of the Strait of Hormuz, which sees nearly 20% of global oil and gas exports flowing through it.
Europe, though still heavily dependent on the US through institutions like NATO, retains leverage.
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The Iranian-designed drones were also used by Russia in its invasion of Ukraine.
The strait has been closed since the US and Israel began their joint military operation against Iran
A missile facility in Garmdarah struck.
Oil supply has been impacted due to Iran war.
The attacks come as Iran presses forward with its retaliation against its Gulf neighbours
A Pentagon video purporting to have captured the attack showed the warship being hit by a huge explosion
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Hegseth said that the strike was the first of its kind on an enemy since World War II