Qatar's state oil and gas company said the Ras Laffan Industrial City, an energy-industry hub, had suffered "extensive damage" after it was hit by Iranian missiles. "The attacks on Iran's South Pars field were boosting oil and gas prices, and any further escalations of attacks to energy infrastructure would continue to raise prices," SEB analyst Ole Hvalbye said. Traders and analysts said the measures could help slow the surge in fuel prices in the US, but are unlikely to have much of an effect on global energy prices. Separately, Iraq's state oil company SOMO signed contracts with international carriers and buyers to export crude oil via Turkey, Jordan and Syria, the Iraqi state news agency said on Wednesday. Crude inventories rose by 6.2 million barrels to 449.3 million barrels in the week ended March 13, compared with market expectations for a rise of 383,000 barrels.

Source: The Star March 19, 2026 01:09 UTC