The Iran war has put at risk some of the world's most critical oil and gas infrastructure — the pipelines, refineries, and shipping terminals that keep energy flowing from the countries around the Persian Gulf to the global economy.
Strikes by Iranian drones have disrupted operations, while the effective closure of the Strait of Hormuz choke point for shipping due to risk of Iranian strikes has left some 20% of the world's oil and liquefied natural gas with nowhere to go. Oil fields in countries including Iraq have cut back output as storage fills up. Qatar, a major supplier of liquefied natural gas, has shut down its exports as well.
