Energy — Middle East War Triggers Global Energy Crisis as Hormuz Closes and Iraq Shuts Production

Energy · 2026-03-04

A perfect storm is unfolding in global energy markets as the U.S.-Israel conflict with Iran triggers cascading disruptions across oil, gas, and power sectors. The effective closure of the Strait of Hormuz has forced Iraq to shut in up to 1.6 million bpd of production due to storage constraints, while Qatar's LNG facilities suspension removes 20% of global capacity. This supply shock has sent…