Damascus, March. 7 (SANA) Shipping through the vital Strait of Hormuz, which carries about one-fifth of global energy supplies, has nearly come to a complete halt for the sixth consecutive day since the outbreak of the US-Israeli war against Iran, causing major disruption in global energy markets.
Iran continues launching missile and drone attacks on several countries in the region following US and Israeli strikes on Iranian territory that began last Saturday, causing casualties and infrastructure damage.
Oil prices surged after US President Donald Trump said the war would continue until Iran’s “unconditional surrender” heightening fears of supply disruptions. Brent crude exceeded $92 per barrel while West Texas Intermediate reached $90.48, an increase of more than 11 percent. Authorities in the Kurdistan Region also halted production at an oil field operated by a US company following a terrorist attack, while North Sea Brent for May delivery stood at $88.86 per barrel and West Texas Intermediate for April delivery reached $85.48.
Minister of Energy in Qatar Saad al-Kaabi warned Gulf energy exports could halt within weeks if the escalation continues, saying oil prices could reach $150 per barrel. He added that restoring the LNG supply cycle could take weeks or months even if the war ends immediately after an Iranian drone attack targeting Qatari facilities.
Prime Minister and Minister of Foreign Affairs of Qatar Mohammed bin Abdulrahman Al Thani discussed the escalation with several counterparts, stressing the need to resolve disputes peacefully and describing the Iranian attack on Qatari territory as a blatant violation of sovereignty. He reaffirmed Qatar’s commitment to distancing itself from regional conflicts while facilitating dialogue between Iran and the international community, warning that renewed attacks would heighten regional tensions.
Bahrain, the United States and the United Kingdom held exceptional consultations to coordinate a response to security challenges and reaffirmed their commitment to confronting external threats, while the King of Jordan and the Prime Minister of Canada condemned the Iranian attacks and called for an end to military escalation and renewed dialogue.
United Nations High Commissioner for Human Rights Volker Türk urged de-escalation, warning of further bombardment, destruction and loss of life and calling on the international community to pressure the warring parties to protect civilians. The United Nations High Commissioner for Refugees described the war as a major humanitarian emergency requiring an urgent regional response.
Azerbaijan suspended truck and transit traffic through its border crossings with Iran after drone attacks targeted Nakhchivan International Airport and nearby areas. Minister of Transport of France Philippe Tabarot said 60 French ships are stranded in the Arabian Gulf and the Red Sea due to the escalation, adding that Paris is taking measures to secure navigation and protect crews.
Observers warn that continued escalation between the United States and Israel on one side and Iran on the other could prolong the disruption of the Strait of Hormuz, reshape international alliances and increase military presence along vital maritime routes.
M.Q.R
