Middle East tensions reached new heights this week as Israel and Iran exchanged missile strikes, with Tehran's Revolutionary Guard launching its 66th wave of retaliatory operations codenamed True Promise 4. The attacks targeted central/southern Israel and U.S. military bases across the region, using advanced missiles like the precision-guided Qadr systems 🚀.
Energy Markets in Chaos
The conflict's economic fallout went nuclear yesterday when attacks crippled Qatar's Ras Laffan LNG facility – responsible for 20% of global supplies 💸. QatarEnergy estimates $20B in annual losses, with repairs taking 3-5 years. This comes as oil prices hit $150/barrel for the first time since 2022.
Global Domino Effect
With the crisis entering its 21st day:
- 🇶🇦 Qatari LNG exports down 16%
- 🇺🇸 U.S. urging restraint on energy infrastructure attacks
- 🌍 Asian and European markets bracing for winter shortages
Former U.S. President Trump called the situation "a global economic timebomb" during yesterday's press briefing 📉.
Reference(s):
Israel and Iran launch new wave of attacks as crisis deepens
cgtn.com
