Global oil prices skyrocketed above $100 per barrel this week after fresh strikes hit energy facilities in Iran and Bahrain, intensifying fears of prolonged supply disruptions. Tehran’s skies darkened with heavy smoke Monday as explosions rocked a major refinery, while Bahrain’s state-owned Bapco declared force majeure following an attack on its Al Ma'ameer oil complex. 🚨
The crisis deepened as Qatar and Kuwait also activated force majeure clauses – legal shields against export shortfalls – marking the most severe energy market shock since the 2022 Russia-Ukraine conflict. Asian stock markets plunged as investors scrambled, with analysts warning of "ripple effects on inflation and global growth" if tensions persist. 📉
⚡ Why it matters: The Gulf supplies 30% of the world’s oil. With US-Israel operations against Iran escalating since last weekend, energy traders are bracing for volatility. "This isn’t just about barrels – it’s about regional stability," said one Singapore-based analyst.
