Impact of Iran conflict on oil and LNG

With senior US officials estimating that a war with Iran is now expected to last weeks, not days, and Iran’s declaration of war on Israel and the US, the chances of the Strait of Hormuz being closed for an extended period are rapidly increasing, with all that this would entail with regards to oil and LNG supplies and prices.

Iran has already hit Ras Laffan in Qatar, the biggest LNG plant in the world, the Ras Tanura refinery in Saudi Arabia – one of the biggest in the world – and oil export facilities in Fujairah.