Oil and Gas

United States Secretary of State Marco Rubio has offered wide-ranging remarks upon his departure from the latest Group of Seven (G7) ministers’ meeting in France, denouncing Iran’s continued chokehold on the Strait of Hormuz as well as settler violence in the occupied West Bank.

Standing on an airport tarmac on Friday, Rubio fielded questions from journalists about reports that Iran plans to implement a tolling system in the strait, a vital waterway for the world’s oil supply.

Rubio used the topic to double down on pressure for countries to participate in securing the Strait of Hormuz, a demand US President Donald Trump has repeatedly made.

“One of the immediate challenges we’re going to face is in Iran, when they decide that they want to set up a tolling system in the Strait of Hormuz,” Rubio said.

“Not only is this illegal, it’s unacceptable. It’s dangerous for the world, and it’s important that the world have a plan to confront it. The United States is prepared to be a part of that plan. We don’t have to lead that plan, but we are happy to be a part of it.”

He called on the G7 members — among them, Japan, Canada, France, the United Kingdom, Italy, Germany and the European Union — as well as countries in Asia to “contribute greatly to that effort”.

Rubio calls toll plan ‘unacceptable’

The Strait of Hormuz is a key artery for the global transport of oil and natural gas, and prior to the start of the US and Israel’s war against Iran on February 28, an average of 20 million barrels of oil per day passed through the waterway.

That amounted to roughly 20 percent of the world’s liquid petroleum supply.

But since the outbreak of war, Iran has pledged to close the Strait of Hormuz, which borders its shores. The threat of attacks has ground most of the local tanker traffic to a standstill, though a few vessels, some linked to Iran or China, have been allowed to pass through.

Media reports suggest that Iran is setting up a “tollbooth system” that would require passing ships to put in a request through Iran’s armed forces, the Islamic Revolutionary Guard Corps (IRGC). There would also be a fee to secure passage.

“ They want to make it permanent. That’s unacceptable. The whole world should be outraged by it,” Rubio said on Friday.

He added that he conveyed a warning about the polling scheme to his colleagues at the G7.

“All we’ve said is, ‘You guys need to do something about it. We’ll help you, but you guys are going to need to be ready to do something about it,’” Rubio said.

“Because when this conflict and when this operation ends, if the Iranians decide, ‘Well, now we control the Strait of Hormuz and you can only go through here if you pay us and if we allow you to, that’s not only is it illegal under international law and maritime law. It’s unacceptable, and that can’t be allowed to exist.”

The Trump administration, however, has struggled to rally allies and world powers to join the US in its offensive against Iran.

Legal experts have criticised the initial strikes against Iran as an unprovoked act of aggression, though the Trump administration has cited a range of rationales for launching the attack, including the prospect that Iran may develop a nuclear weapon.

Many of the US allies in Europe have maintained that they would limit their involvement to defensive actions. Trump, meanwhile, has accused members of the NATO alliance of being “cowards”, adding in a social media post, “We will REMEMBER.”

In a statement following the G7 meeting, member countries reiterated their stance that there should be an “immediate cessation of attacks against civilians and civilian infrastructure”.

They also underscored the “absolute necessity to permanently restore safe and toll-free freedom of navigation in the Strait of Hormuz”. But the statement fell short of pledging any resources or aid to the US and Israeli war effort.

Achieving goals ‘without any ground troops’?

It is unclear when the war might end. On Saturday, it reaches its one-month anniversary, having stretched for four weeks.

Rubio on Friday echoed Trump’s assessment that the war was going as planned and that the US was achieving its objectives, including to destroy Iran’s navy, missile stockpiles and uranium enrichment programme.

“ We are ahead of schedule on most of them, and we can achieve them without any ground troops, without any,” he said, addressing an oft-raised concern about the prospect of US troops being deployed to Iran.

Rubio also briefly addressed the increasing levels of Israeli settler violence against Palestinians in the occupied West Bank.

Footage has shown settlers this month torching Palestinian homes and vehicles, as well as assaulting residents.

On March 19, the United Nations estimated that more than 1,000 Palestinians have been killed in the West Bank since Israel began its genocidal war in Gaza in October 2023. The international body underscored that a quarter of the victims were youths.

“ Well, we’re concerned about that, and we’ve expressed it. And I think there’s concern in the Israeli government about it, as well,” Rubio responded, adding that it was a “topic we follow very closely”.

He suggested that the Israeli government may take action to stop the violence, though critics argue that Israel has largely turned a blind eye to settler violence.

“Maybe they’re settlers, maybe they’re just street thugs, but they’ve attacked security forces, Israelis, as well. So, I think you’ll see the government going to do something about it,” Rubio said.

Upon taking office for a second term in January 2025, President Trump also moved to cancel sanctions against Israeli settlers accused of grave abuses in the West Bank.

It diversified energy supplies, built LNG terminals and reduced its dependence on Russia.

Europe thought it had learned its lesson after the war in Ukraine.
But today it’s facing another energy shock.

And this time it may be even worse, as the war in Iran disrupts supply through the Strait of Hormuz.

It’s happening when EU gas reserves are unusually low.

That means Europe will be competing with Asia to fill its storage tanks, which might force the price of LNG even higher.

Electricity bills are climbing.

Industry is under pressure.

Governments are stepping in to cushion the blow.

As the United States-Israeli war on Iran enters its fourth week this weekend, pressure on oil and gas markets continues to mount due to severe disruption to shipping traffic through the Strait of Hormuz as well as attacks on and around key energy facilities in the Gulf.

In peacetime, 20 percent of the world’s oil and gas is shipped from producers in the Gulf through the Strait of Hormuz – the only route to the open ocean – including 20 million barrels of oil per day.

To bridge the shortage its closure has caused, countries in the Middle East are exploring alternative routes to get energy exports out.

In this explainer, we look at three major pipelines in the Middle East that producers may be pinning their hopes on, and whether they can fill the gap.

What has happened in the Strait of Hormuz?

On March 2 – two days after the US and Israel began strikes on Iran – Ebrahim Jabari, a senior adviser to the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), announced that the strait was “closed”. If any vessels tried to pass through, he said, the IRGC and the navy would “set those ships ablaze”. Since then, traffic through the strait has plunged by more than 95 percent.

Iranian officials have most recently stated that the strait is not completely closed – except to ships belonging to the US, Israel and those who collaborate with them – but have also laid down new ground rules. Any vessel must secure Tehran’s approval to transit through the narrow waterway.

As a result, over the past fortnight, countries have been scrambling to do deals with Iran to secure safe passage and a few, mostly Indian, Pakistani and Chinese-flagged tankers have been allowed to pass.

On Thursday, Malaysian Prime Minister Anwar Ibrahim thanked Tehran for granting Malaysian vessels “early clearance” through the strait.

Meanwhile, about 2,000 ships flying the flags of other nations are stuck on either side of the strait.

Which oil pipelines could serve as alternate routes?

The only alternative to shipping oil is piping it across land or under the sea. Three oil pipelines could work as ways around the Strait of Hormuz, including:

Saudi Arabia’s East-West Pipeline

The East-West pipeline is also known as the Petroline and is operated by Saudi oil giant Aramco. Aramco is one of the world’s largest companies, with a market capitalisation exceeding $1.7 trillion and annual revenues of $480bn. The oil giant controls 12 percent of global oil production, with a capacity of more than 12 million bpd.

It is a 1,200km (745-mile) pipeline which runs from the Abqaiq oil processing centre close to the Gulf in Saudi Arabia to the Yanbu port on the Red Sea, on the other side of the country.

However, the pipeline does not have the capacity to fully make up for the Hormuz closure.

In 2024, about 20 million barrels per day (bpd) passed through the Strait of Hormuz, according to data from the United Nations. Crude oil and condensate made up 14 million bpd of this, while petroleum was the remaining 6 million bpd.

The East-West pipeline has the capacity of transporting up to 7 million bpd. On March 10, Aramco said about 5 million bpd could be made available for exports, while the rest could supply local refineries.

Since the US-Israeli war on Iran began at the end of February, Saudi Arabia has ramped up its oil flow through this pipeline. In January and February, an average of 770,000 bpd flowed through the pipeline, according to data from Kpler, a data and analytics company. By Tuesday this week, this had increased to an average of 2.9 million bpd.

However, using the Saudi pipeline still carries a risk.

The Houthis, an Iran-backed Yemeni armed group whose attacks on ships in the Red Sea caused global shipping chaos during Israel’s genocidal war in Gaza from 2023 to 2025, could target the Bab al-Mandeb Strait, which connects the Red Sea to the Gulf of Aden, and the Indian Ocean beyond.

An unnamed Houthi leader told the Reuters news agency that the Houthis remain ready to attack the Red Sea again in solidarity with Tehran, the agency reported on Thursday.

“We stand fully militarily ready with all options. As for other details having to do with determining zero hour they are left to leadership and we are monitoring and following up with the developments and will know when is the suitable time to move,” the Houthi leader said.

The Bab al-Mandeb is the southern outlet of the Red Sea, situated between Yemen on the Arabian Peninsula and Djibouti and Eritrea on the African coast.

It is one of the world’s most important routes for global seaborne commodity shipments, particularly crude oil and fuel from the Gulf bound for the Mediterranean via the Suez Canal or the SUMED pipeline on Egypt’s Red Sea coast, as well as commodities bound for Asia, including Russian oil.

The Bab al-Mandeb is 29km (18 miles) wide at its narrowest point, limiting traffic to two channels for inbound and outbound shipments.

Iran could open a new front in the Bab al-Mandeb Strait if attacks are carried out on Iranian territory or its islands, Iran’s semiofficial Tasnim cited an unnamed Iranian military source as saying on Wednesday.

UAE’s Abu Dhabi Crude Oil Pipeline

The Abu Dhabi Crude Oil Pipeline is also called the ADCOP or the Habshan-Fujairah pipeline.

The 380km pipeline runs from Habshan, an oil and gasfield in the southwestern area of Abu Dhabi, United Arab Emirates, to the port of Fujairah on the Gulf of Oman.

The pipeline, which became operational in 2012, has a capacity of about 1.5 million barrels per day (bpd). It is unclear how much is now being transported through the pipeline.

However, oil exports from Fujairah do appear to have risen in the past month despite the closure of the strait, averaging 1.62 million bpd in March compared with 1.17 million bpd in February, according to Kpler analyst Johannes Rauball, who spoke to Reuters.

Iraq-Turkiye Crude Oil Pipeline

The Iraq-Turkiye Crude Oil Pipeline, also called the Kirkuk-Ceyhan Pipeline, links Iraq to the Mediterranean coast of Turkiye.

The pipeline, which has the capacity of 1.6 million bpd, currently carries about 200,000bpd.

Iraq is among the top five global producers of oil and is the second largest within the Organization of the Petroleum Exporting Countries (OPEC), exceeding 4 million bpd.

Can these pipelines replace the Strait of Hormuz?

No. While these pipelines can take on some of the capacity of Hormuz, their combined capacity is only about 9 million bpd, compared with about 20 million bpd for the strait.

Additionally, these pipelines are land-based and within the range of Iranian missiles and drones, which makes them just as vulnerable to attacks and damage in the ongoing conflict as ships travelling through the strait. Throughout the war, energy infrastructure all over the Gulf has suffered strikes.

Are there other options?

Theoretically, oil can be transported on trucks, but this is costly, slow and inefficient.

A standard truck can carry anywhere between 100 to 700 barrels per day, depending on the number of trips. Hundreds of thousands of barrels would be needed to meet needs, requiring thousands of trucks, which could also be targeted in strikes.

Rescue teams from the Iranian Red Crescent Society have been searching the rubble of residential buildings hit in US-Israeli attacks in Iran, where officials say around 2,000 people have been killed.

Malaysian leader says oil tankers granted clearance by Iran as government introduces measures to conserve fuel.

Iran has allowed Malaysian ships to pass through the Strait of Hormuz, Malaysia’s leader said, amid the global energy crunch driven by the United States and Israel’s war with Tehran.

In a televised address on Thursday, Malaysian Prime Minister Anwar Ibrahim expressed thanks to Iran’s President Masoud Pezeshkian for granting Malaysian vessels “early clearance” through the waterway, which has been effectively closed by Tehran.

“We are in the process of securing the release of the Malaysian oil tankers and the workers involved so they can continue their journey home,” Anwar said.

Anwar did not elaborate on how many vessels had cleared the strait, which normally facilitates the transport of about one-fifth of global oil and liquefied natural gas (LNG) supplies, or under what conditions the vessels were cleared for safe passage.

The Malaysian government, which has traditionally pursued a policy of non-alignment in international affairs, did not immediately respond to requests for comment.

Anwar said that while Malaysia had been affected by the disruption to energy supplies, the Southeast Asian country was in a “much better position” than other nations due to the capacity of the state-run oil and gas company Petronas.

As one of the world’s top suppliers of LNG, Malaysia is a net energy exporter, but the country imports nearly 70 percent of its crude oil from the Gulf region.

Anwar said his government would take a series of measures to conserve fuel, including reducing the individual monthly quota for subsidised petrol and “gradually and selectively” moving civil servants onto work-from-home arrangements.

“Food supplies are affected; prices will certainly rise. Fertiliser as well, and of course, oil and gas,” Anwar said.

“So there are steps we need to take. There are countries whose impacts are far worse than ours, but that does not mean we are spared entirely,” he said.

While Iran has stated that the strait is open to ships that are not aligned with the US or Israel, Tehran has claimed the right to exercise control over the waterway and admitted responsibility for at least two of 20 documented attacks on commercial vessels in the region.

Iran’s parliament is also pushing legislation that would establish a toll system in the strait amid reports that Iranian authorities have been demanding vessels fork over as much as $2m to guarantee their safe passage.

Five ships were tracked transiting the strait via their automatic identification systems on Wednesday, up from four the previous day, according to maritime intelligence company Windward.

Before the war, an average of 120 vessels transited the waterway each day, according to Windward.

EXPLAINER

The US and Israel’s war on Iran is intensifying, as Trump again claims Iranian leaders want to ‘make a deal’.

The United States and Israel’s war on Iran continues, with an Al Jazeera correspondent in Tehran reporting strikes are “increasing in number and in intensity” amid conflicting claims about whether negotiations are taking place.

US President Donald Trump says talks are happening, but Iran rejects the talks, saying it will continue to “resist” US aggression.

On Thursday, Iran carried out retaliatory strikes against Israel and several Gulf countries, as the Middle East conflict sees no signs of ending, and global energy and food prices continue to rise.

In Iran

• Intensifying attacks: US-Israeli attacks on Iran are “increasing in number and in intensity”, according to Al Jazeera correspondent, with Israel announcing extensive strikes on central Isfahan. Alongside US forces, Israel has launched a “wave of extensive strikes” across Iran.
• Civilian casualties reported: Iranian media reported that two teenage boys were killed in a recent US-Israeli strike on a residential area in a village in the county of Shiraz.
• Iran talks: US President Donald Trump insisted that Iran was taking part in peace talks.
• Iran chooses ‘resistance’: Foreign Minister Abbas Araghchi said Tehran will continue its “resistance” and does not intend to negotiate.
• US targets missile capacities: The US has hit two-thirds of Iran’s production facilities for missiles and drones, a top officer said.
• Threat to Iranian island: Tehran warned enemies may try to occupy one of its islands with support from an unnamed regional country.
• Iran’s leverage: Jane Foley, an analyst from Rabobank, noted that Tehran’s position on negotiations leaves the ball firmly in their court. Because the critical Strait of Hormuz remains effectively closed, she suggests Iran could have the power to dictate the terms of any resolution.
• New toll legislation: The Iranian parliament is preparing a draft law that would mandate the collection of tolls and duties from ships and tankers transiting the Strait of Hormuz, treating the waterway like a standard transit corridor.

In the Gulf

• Hezbollah plot uncovered in Kuwait: Authorities arrested six people allegedly linked to Hezbollah, accused of planning assassinations in the Gulf state, the Interior Ministry said.
• Saudi Arabia: Saudi Arabia’s Defence Ministry on Thursday morning announced the interception and destruction of a drone in the Eastern Province. Its air defence systems intercepted and destroyed at least two dozen drones targeting the Eastern Province, home to the majority of the kingdom’s oil facilities, on Wednesday.
• Bahrain: A fire broke out at a facility in the Muharraq Governorate due to what the Interior Ministry described as “Iranian aggression”.
• United Arab Emirates: The UAE’s Defence Ministry said on Thursday that its air defence systems have been actively responding to and intercepting incoming missiles and drones from Iran.

In the US

• Trump says Iran wants a deal: Trump again claims Iranian leaders want to “make a deal so badly” but are afraid to say so “because they figure they’ll be killed by their own people”.
• Trump threatens ‘hell’ if no deal: Trump is ready to “unleash hell” on Iran if Tehran does not accept a deal to end the war, the White House warned on Wednesday.
• Strategic posturing: Jason Campbell, a former Pentagon official, said US threats to “hit Iran harder” are more about signalling than intensifying attacks.
• Intentional vagueness: Campbell told Al Jazeera that Trump is deliberately omitting specific details because he wants the Iranian regime to believe the US is fully capable and willing to execute these harsher attacks.

In Israel

• Missile salvoes: Israel’s army on Thursday morning said it had detected a wave of missiles from Iran heading towards the country, the second salvo in less than 30 minutes.
• Rockets and missiles targeting Israel: Iranian missiles continue to target central and northern Israel. Additionally, Hezbollah has fired volleys of rockets into the Western Galilee region.

In Iraq, Lebanon

• Gulf issues Iraq demand: Gulf states and Jordan have urged Iraq to stop attacks by pro-Iran armed groups from its territory.
• Ground clashes with Hezbollah: Israeli troops have crossed the border into Lebanese territory and are actively engaging in ground combat. Hezbollah says its fighters are continuing to clash with invading Israeli troops in south Lebanon.
• Defending Lebanese soil: Hezbollah’s Secretary-General Naim Qassem stated that the group is now in a war against both the US and Israel and will do everything it can to defend Lebanese territory.

Oil markets and food

• Oil prices climb: Oil prices have climbed higher amid fading hopes of de-escalation in the Iran war following Tehran’s rejection that talks with the US are under way.
• Food supply shocks: Antony Currie, a columnist for Breakingviews, warned that the Iran war will likely have a more severe impact on global food security than Russia’s 2022 invasion of Ukraine.

Brent crude tops $104 a barrel as hopes fade for deescalation in US-Israel war on Iran.

Oil prices have climbed higher amid fading hopes of deescalation in the Iran war following Tehran’s denial that talks with the United States are under way.

Futures for Brent crude, the international benchmark, rose nearly 2 percent on Thursday to top $104 per barrel after Tehran dismissed reports of direct negotiations with US President Donald Trump’s administration.

The rise comes after oil prices eased on Wednesday following reports that Trump had shared a 15-point plan for ending the war with Iran.

Asian stock markets opened lower on Thursday, with Japan’s Nikkei 225, South Korea’s KOSPI and Hong Kong’s Hang Seng Index all seeing losses.

Iranian Foreign Minister Abbas Araghchi said in an interview with state media aired on Wednesday that Tehran was not engaged in direct talks with Washington and has “no intention of negotiating for now”.

White House Press Secretary Karoline Leavitt warned on Wednesday that Iran would be “hit harder” than ever before if Tehran did not accept military defeat.

Iran’s effective closure of the Strait of Hormuz, a conduit for one-fifth of global oil supplies, and its attacks on energy facilities across the Middle East have prompted a surge in energy prices worldwide.

Oil prices are up more than 40 percent compared with before the US and Israel launched strikes on Iran on February 28, prompting numerous countries to implement fuel rationing and other energy conservation measures.

Market-watchers say prices are likely to rise further until shipping is free to traverse the strait, despite efforts by countries to bolster supply by tapping emergency stockpiles in coordination with the International Energy Agency.

While Tehran has repeatedly claimed that the strait is open to ships that are not aligned with its enemies, daily transits have all but collapsed since the start of the conflict.

Four vessels were tracked transiting the waterway via their automatic identification systems on Tuesday, down from an average of 120 daily transits before the conflict, according to maritime intelligence firm Windward.

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In a sharp escalation in the Middle East conflict, energy production itself is now in the firing line.

Iran targeted facilities across the Gulf – including the world’s largest liquefied natural gas hub in Qatar.

It was retaliation for an Israeli strike on an Iranian gasfield hours earlier.

Energy prices are soaring, and countries from Asia to Europe are scrambling for alternative supplies.

But, for Asia – the world’s largest LNG buyer – this is a severe energy shock.

The region depends on Gulf supplies to keep its lights on, its factories running, and its people fed.

Videos show flames and a plume of thick smoke following an explosion at a Valero oil refinery in Port Arthur, Texas. Police have told local media they believe an industrial heater caused the blaze and there are no reports of injuries.

Iran’s paralysis of the Strait of Hormuz has led to major disruption in global oil and gas supply and many countries have begun tapping into their strategic oil reserves to evade an economic crisis.

Since the US-Israeli war on Iran began on February 28, Tehran, whose territorial waters extend into the Strait, has blocked the passage of vessels carrying 20 percent of the world’s oil and liquified natural gas (LNG) from the Gulf to the rest of the world. The strait is the only waterway to open ocean available for Gulf oil and gas producers.

Last week, the price of Brent crude topped $100 a barrel compared to the pre-war price of around $65.

The United States Trump administration has tried and failed to re-open the strait. First, it called on Western nations to send warships to help escort shipping through the strait – an option all have declined or failed to respond to. Then, on Sunday, Trump gave Iran 48 hours to reopen the strait or face US attacks on its power plants.

However, on Sunday, Iran said it would hit back at power plants in Israel and those in the region supplying electricity to US military assets. And, on Monday, Iran said it would completely shut the Strait of Hormuz if US attacks on its energy infrastructure continue.

Following Iranian attacks on energy infrastructure across the Gulf over the past three weeks, countries including Saudi Arabia, UAE, Iraq and Kuwait have also cut their oil output, raising further concerns about global oil and gas supply.

On Monday, Trump appeared to backtrack on his Hormuz ultimatum when he ordered all US strikes on power plants in Iran to be paused for five days and claimed the US was holding talks with Iran. Iran has denied this.

In the face of chaos, on March 11, the 32 member countries of the International Energy Agency (IEA) agreed to release 400 million barrels of oil from their strategic emergency reserves – the largest stock draw in the agency’s history. It is far higher than the 2022 release of 182 million barrels of oil by the group’s members after Russia invaded Ukraine.

What are strategic oil reserves and which countries hold them?

What is a strategic oil reserve?

A strategic oil reserve or strategic petroleum reserve (SPR) is an emergency stockpile of crude oil which is held by the government of a country in government facilities.

This oil reserve can be drawn on in cases of emergencies like wars and economic crises. Governments generally buy the oil through agreements with private companies in order to keep their reserves filled.

According to the IEA, its members currently hold more than 1.2 billion barrels of these public emergency oil stocks with a further 600 million barrels of industry stocks held by private organisations but under government mandate to be available to supplement public needs.

Other reserves are also held by non IEA members like China.

Which countries have strategic oil reserves? Can they withstand the war in Iran?

China

Beijing is not an IEA member, but holds the world’s largest strategic oil reserve.

According to China’s Ministry of Ecology and Environment, Beijing “started a state strategic oil reserve base programme in 2004 as a way to offset oil supply risks and reduce the impact of fluctuating energy prices worldwide on China’s domestic market for refined oil”.

“The bases are designed to maintain strategic oil reserves of an equivalent to 30 days of imports, or about 10 million tonnes,” according to a 2007 report from Chinese state news agency Xinhua.

These strategic oil reserves are primarily located along China’s eastern and southern coastal regions such as Shandong, Zhejiang and Hainan.

China does not officially publish information about its crude inventories so it is not clear how much oil the country has in reserve. However, according to energy analytics firm Vortexa, in 2025, “China’s onshore crude inventories (excluding underground storage) continued to rise… reaching a record 1.13 billion barrels by year-end”.

According to data from Kpler, China bought more than 80 percent of Iran’s shipped oil in 2025. As the war in Iran escalates, therefore, Chinese companies such as refiner Sinopec have begun pushing for permission to use oil from the country’s reserves according to a Reuters report on Monday.

“We basically won’t buy Iranian oil, this is pretty clear,” Sinopec President Zhao Dong told a company results briefing in March, according to Reuters.

“We believe the government is closely monitoring crude oil and refined fuel inventories and market situations, and will advance policies at the appropriate ⁠time to support refinery productions,” he added.

US

Of the IEA members, the US holds one of the largest strategic oil reserves with 415 million barrels of oil. The stores are maintained by the US Department of Energy. It has confirmed that it will release 172 million barrels of oil from its SPR over this year as its contribution to coordinated efforts with the IEA.

On Friday, the Trump’s administration announced that it has already lent 45.2 million barrels of crude from the SPR to oil companies.

The US created its SPR in 1975 after an Arab oil embargo triggered a spike in gasoline prices which badly affected the US economy.

The reserves are located near big US refining or petrochemical centres, and as much as 4.4 million barrels of oil can be shipped globally per day.

The SPR currently covers roughly 200 days of net crude imports, according to a Reuters news agency calculation.

US presidents have tapped into the stockpile to calm oil markets during war or when hurricanes have hit oil infrastructure along the US Gulf of Mexico.

In March 2024, US President Joe Biden announced oil would be released from the reserve to ease pressure from oil price spikes following Russia’s invasion of Ukraine in February 2022 and amid subsequent sanctions imposed on Russian oil by the US and its allies.

Japan

An IEA member, Japan also has one of the world’s largest strategic oil reserves.

According to Japanese media Nikkei Asia, at the end of 2025, the country held about 470 million barrels of in emergency reserves which is enough to meet 254 days of domestic consumption. Out of this amount, 146 days worth of oil are government-owned, 101 days are owned by the private sector, and the remainder is jointly stored by oil-producing countries.

Japan set up its national oil reserve system in 1978 to prevent future economic disruptions following the global oil crisis in 1973. That oil crisis heightened Japan’s vulnerability and dependence on oil from abroad. The country remains one of the world’s largest oil importers, relying on fossil fuels from overseas for about 80 percent of its energy needs.

Japan’s reserves are primarily located in 10 coastal national stockholding bases with major storage sites in the Shibushi base in Kagoshima in southern Japan.

On March 16, Japan announced that it had begun releasing oil from its emergency reserves amid the global energy crisis sparked by the effective closure of the Strait of Hormuz.

Japanese Prime Minister Sanae Takaichi told journalists the country would unilaterally release 80 million barrels of oil from stockpiles amid supply concerns.

UK

As of February 26, according to the UK Department of Energy Security and Net Zero, the UK holds about 38 million ⁠barrels of crude oil and 30 million barrels of refined products, as strategic reserves. The reserves are thought to be able to last around 90 days.

The country established its reserves in 1974 following the oil crisis of the 1970s and also to meet its IEA obligations. Members of the organisation are required to maintain at least 90 days of net imports in reserve.

The UK’s strategic reserves are largely held by private oil companies, but are regulated by the government. Milford Haven in South Wales and Humber in northeast England are key locations of reserves.

The country is among the 32 IEA nations releasing oil from its reserve to address the oil crisis amid the war in Iran. The UK government will be contributing 13.5 million barrels as a part of the release.

EU

EU member nations including Germany, France, Spain and Italy, all IEA members, also hold strategic oil reserves.

Germany has 110 million barrels of crude oil and 67 million barrels of finished petroleum products which are held by the government and can be released in a matter of days, according to Germany’s economy ministry.

France reported about 120 million barrels’ worth of crude and finished products in reserve at the end of 2024, the most recent data publicly available. About 97 million barrels of that is held by SAGESS, a government-mandated entity, with ‌a breakdown ⁠of about 30 percent crude oil, 50 percent gasoil, 9 percent gasoline, 7.8 percent jet fuel and some heating oil. Another 39 million barrels are held by the country’s oil operators.

On March 16, Spain approved the release of around 11.5 million barrels of oil reserves over 90 days to counter ⁠supply shortages caused by the effective closure of the Strait of Hormuz, Energy Minister Sara Aagesen told reporters. This is the country’s contribution to the IEA release. The country has around 150 million barrels of crude oil reserves in total.

Italy, by law, was holding about 76 million barrels of reserves, representing 90 days of Italy’s average net oil imports, in 2024.

Key indexes in Japan, South Korea and Hong Kong tumble as Iran threatens attacks on energy infrastructure across region.

Stock markets in the Asia Pacific have fallen sharply amid US President Donald Trump’s ultimatum warning Iran to reopen the Strait of Hormuz or face the annihilation of its energy infrastructure.

Japan’s benchmark Nikkei 225 and South Korea’s KOSPI plunged 4 percent and 4.5 percent, respectively, in early trading on Monday.

In Hong Kong, the Hang Seng Index tumbled about 2 percent.

Australia’s ASX 200 dropped about 1.6 percent, while the NZX 50 in New Zealand dipped about 1.3 percent.

Futures on Wall Street, which are traded outside of regular market hours, saw moderate losses, with those tied to the S&P500 and the Nasdaq Composite down about 0.5 percent.

Oil prices remained volatile amid fears of further disruption to global energy supplies.

Futures for Brent crude, the international benchmark, rose more than 1.5 percent to top $114 a barrel, before easing to about $112 as of 02:00 GMT.

Trump on Saturday threatened to “obliterate” Iran’s power plants within 48 hours if Tehran does not end its effective blockade of the strait, through which about one-fifth of global oil and natural gas exports usually transit.

Tehran has pledged to completely close the waterway, which is still being transited by a small number of Chinese, Indian and Pakistani-flagged vessels, and launch retaliatory attacks on energy and water infrastructure across the region if Trump follows through on his threat.

Based on the timing of Trump’s warning on Truth Social, the deadline for his ultimatum is set to expire at 23:44 GMT on Monday.

Trump’s threat has added to fears of a cascading global energy crisis as the US and Israel’s war on Iran approaches the one-month mark with no clear end in sight.

Oil prices have surged more than 50 percent since the start of the war, which began with US-Israeli strikes on February 28.

Analysts have warned that energy prices are likely to rise significantly further if the strait remains effectively closed, with some observers predicting oil to hit $150 or even $200 a barrel.

Trump on Sunday held a phone call with UK Prime Minister Keir Starmer to discuss the situation in the Middle East, including the effective closure of the strait.

The two leaders agreed that unblocking the strait is “essential to ensure stability in the global energy market”, Starmer’s office said in a statement.

Trump has provided conflicting messages about the goals of the war and how long it might last.

Hours before issuing his ultimatum on Saturday, Trump said that his administration was “very close to meeting our objectives as we consider winding down” military operations against Iran.

Israeli military spokesperson Lieutenant Colonel Nadav Shoshani last week told reporters that officials had detailed plans for at least three more weeks of war.

US President Trump, who cut off oil supplies to Cuba after abducting Venezuela’s President Maduro, has threatened to take over the island-nation.

The Cuban government has said it is prepared for any potential United States attacks as the island-nation begins to recover from yet another blackout under a punishing oil blockade imposed by Washington that has pushed its economy to the brink.

Deputy Foreign Minister Carlos Fernandez de Cossio responded on Sunday to US President Donald Trump’s threats this week to take over Cuba, insisting that it had “historically been ready to mobilise as a nation for military aggression”.

“We don’t believe it is something that is probable, but we would be naive if we do not prepare,” de Cossio told NBC’s Meet the Press.

His comments were aired a day after the latest collapse of the country’s ageing nationwide grid that had left millions of people in the dark. Saturday’s outage was the second in the past week and the third in March.

The state-run Electric Union and the Ministry of Energy and Mines said some 72,000 customers in the capital, Havana, including five hospitals, had electricity again early on Sunday. But the number represented only a fraction of Havana’s total population of approximately two million.

The Cuban Electric Union, which reports to the Ministry of Energy and Mines, said the total disconnection of the national system was caused by an unexpected shutdown of a generation unit at the Nuevitas thermoelectric plant in Camaguey province, without providing details on the specific cause of the failure.

Trump, who started blocking oil from reaching the island after abducting Cuba’s ally, Venezuelan President Nicolas Maduro, early this year, has warned potential oil exporters that they could face high tariffs.

According to President Miguel Diaz-Canel, Cuba has not received oil from foreign suppliers for three months. The country produces barely 40 percent of the fuel it needs to power its economy.

On March 16, Trump escalated his rhetoric against Cuba, arguing the leadership was on the verge of collapse and saying he expected to have the “honour” of taking the country.

De Cossio denied that the nature, structure, or makeup of the Cuban government was up for negotiation in what Havana has called a “serious and responsible” dialogue with Washington launched earlier this month. He added that a change of the ruling system was “absolutely” off the table in discussions.

This week, General Francis Donovan, head of the US Southern Command overseeing armed forces in Latin America, told lawmakers at a US Senate hearing on Trump’s military action in the region that troops were not rehearsing for an invasion of Cuba or actively preparing to take over the Communist-run island.

But, he added, the US stood ready to address any threats to the US embassy, to defend its base at Guantanamo Bay, and aid US government efforts to address any mass migration from the island, if needed.

The Cuban government reportedly refused a request by the embassy in Havana to allow it to import diesel for its generators in response to the oil blockade, The Associated Press reported on Saturday, citing two US officials.

The head of US Central Command says forces have struck Iranian coastal missile sites and infrastructure, degrading Tehran’s ability to threaten shipping in the Strait of Hormuz, as Washington vows to continue targeting its regional military capabilities.

War, which saw Iran attack Qatar facility, has caused ‘high, volatile’ gas prices that could hit EU storage projections.

The European Union has urged member states to start early on meeting next winter’s gas storage targets after Iranian attacks on Gulf energy facilities caused prices to surge on global markets.

Energy Commissioner Dan Jorgensen sent a letter Saturday urging the bloc’s members to get to work “as early as possible” in the coming months to “mitigate pressure on prices and avoid [an] end-of-summer rush”, asking them to consider cutting their so-called filling target by 10 percentage points to 80 percent.

The move came days after Iran attacked Qatar’s Ras Laffan Industrial City complex, which provides about 20 percent of global supplies of liquefied natural gas (LNG). The attack, which came amid the US-Israeli war on Iran, was in retaliation for an Israeli attack on the Iranian South Pars gasfield.

State-owned QatarEnergy said that Iran’s attack on Qatar, which has been targeted throughout the duration of the war, knocked out 17 percent of Doha’s export capacity and would affect exports for up to five years.

The slowdown will mainly harm Asian buyers, including China, Japan, and India, which buy some 80 percent of QatarEnergy’s LNG.

But Europe, which only sources around 9 percent of its LNG from Qatar, will nevertheless be exposed to increased competition, with tanker traffic leaving the Gulf via the Strait of Hormuz throttled by the war.

Natural gas prices in the EU have risen by more than 30 percent since the start of the war on February 28, spiking after Israel’s attack on Iran’s critical South Pars gasfield and subsequent Iranian attack on Qatar’s Ras Laffan.

Jorgensen said that the EU’s gas supply, which has mainly been furnished by the United States since the bloc weaned itself off Russian energy over the Ukraine war, remained “relatively protected at this stage”.

“But, as a net energy importer on global markets, the resulting high and volatile global prices may also impact the EU gas storage projections,” he cautioned.

Jorgensen warned that developments “threaten regional and global security”, urging member states to refill stores early over a longer period.

The EU requirement for member countries to maintain gas reserves at 90 percent of capacity to meet winter heating and power demand underpins the region’s energy security.

Having cut that target by 10 percent, the energy commissioner noted that, in case of “difficult conditions” and a commission assessment, the countries could deviate by up to 20 percent.

Oil prices have also soared since the start of the war by more than 50 percent.

Workers in India’s textile hub Surat are returning home after days without cooking gas, as an LPG crisis linked to Iran war disruptions halts supplies. Industries face shutdowns, while authorities invoke emergency measures to prioritise households.

The war in the Middle East took a serious turn when Israel bombed Iran’s energy facilities, pushing Iran to step up attacks on its Gulf neighbours.

The damage has been significant and will take years to repair. It also has long-term consequences, with Qatar already warning of a reduction in exports.

The escalation is dangerous, experts say, as energy exports from the Gulf region account for a fifth of global output.

So, what are the risks of turning energy facilities into battlefields?

Presenter: Imran Khan

Guests:

Mohsen Baharvand – Former Iranian ambassador to the United Kingdom

Jim Walsh – Research associate in MIT’s security studies programme

John Sfakianakis – Chief economist at the Gulf Research Center

First came the energy shock. Now, the Iran war is hitting something even more basic: Food.

With the Strait of Hormuz blocked, vessels are being rerouted and supply chains are under strain.

The disruption is pushing up the costs of almost everything from factories to supermarket shelves thousands of miles away.

The longer the Iran conflict continues, the greater the pressure on businesses and consumers worldwide.

The United Nations warns that rising food, oil and shipping costs could push an additional 45 million people into acute hunger – taking the global total above its record of 319 million.

Russian oil is emerging as a key beneficiary of the US-Israeli war on Iran, as countries scramble to charter tankers following United States President Donald Trump’s decision to temporarily ease sanctions, analysts say.

Following a phone call with Russian President Vladimir Putin on March 10, Trump said the US would waive Russian oil-related sanctions on “some countries” to ease the shortage caused by Iran’s closure of the Strait of Hormuz, which in peacetime carries 20 percent of the world’s oil and gas from producers in the Gulf.

This week, it was reported that a number of tankers carrying Russian oil bound for China had changed course and were heading for India instead.

According to figures from the Centre for Research on Energy and Clean Air (CREA), Russia earned an additional 672 million euros ($777m) in oil sales in the first two weeks of the war on Iran, which began on February 28 when Israel and the US launched strikes on Tehran, killing Ayatollah Ali Khamenei and other senior Iranian officials.

Iran has since struck back, launching thousands of missiles and drones towards Israel as well as US military assets and infrastructure in neighbouring Gulf countries. The war stepped up a level this week, when Israel bombed Iran’s critical South Pars gasfield, and Iran hit back with strikes on Gulf energy assets, including Qatar’s Ras Laffan Liquefied Natural Gas (LNG) facility – the world’s largest.

This week, the average price of Urals oil – the Russian benchmark – was significantly higher than the pre-war price of less than $60, at around $90 per barrel.

Here’s more about who is buying Russian oil and which other nations might benefit from the oil crisis.

Why is Russian oil benefitting from the Iran war?

Iran’s effective closure of the Hormuz Strait, which is the only sea route from the Gulf to the open ocean, has “walled in” 20 million barrels of Gulf oil per day, George Voloshin, an independent energy analyst based in Paris, told Al Jazeera.

This has prompted the US to, at least temporarily, ease sanctions on shipped Russian oil to slow the ensuing energy crisis and potential global price collapse. The price of Brent crude, the international benchmark, has risen to above $100 a barrel since the closure of the strait, compared with about $65 before the war began.

Many analysts say a price of $200 is no longer “far-fetched”.

“Russia has emerged as a primary beneficiary of the Middle East conflict due to the massive supply vacuum created by the closure of the Strait of Hormuz,” Voloshin said. “Global refiners are desperate for alternative medium-sour crudes, a need that Russia’s Urals grade specifically meets.”

He added that the US decision to grant a temporary reprieve for shipped Russian oil “has provided Moscow with a critical window to maximise export volumes and oil revenues, essentially allowing Russian crude to act as the world’s primary swing supply during the Iranian blockade”.

How has the price of Russian oil been affected so far?

The price of Russian Urals has surged significantly, experts say. As a result of US sanctions, the oil had been trading at below $60 a barrel for some time. However, while “Urals historically traded at a significant discount to Brent due to Western sanctions”, Voloshin said, “that gap has narrowed as demand outstrips supply”.

“Since the beginning of the year, the price of Russian oil is estimated to have risen by nearly 80 percent – most recently close to $90 per barrel – and consistently trading well above the G7 price cap of $60 as buyers prioritise energy security over regulatory compliance in a high-volatility environment,” he added.

Are ships changing course to deliver Russian oil to new buyers?

Earlier this week, Bloomberg reported that at least seven tankers carrying Russian oil had changed course mid-voyage from China to India, citing data from Vortexa, the data analytics group.

Then, Indian media quoted Rakesh Kumar Sinha, special secretary in the Ministry of Ports, Shipping and Waterways, confirming that the Aqua Titan, a Russian oil-laden tanker originally destined for China, is now expected to arrive at New Mangalore port on March 21 having been chartered by Mangalore Refinery and Petrochemicals Limited (MPCL).

India was the first country to receive a time-limited exemption from the US Treasury to import Russian oil that is already at sea, Voloshin said.

“There is clear evidence of a massive logistical redirection of Russian oil cargoes mid-voyage. Several tankers originally bound for Chinese ports have, indeed, switched trajectory to India. This shift is driven by India’s aggressive pursuit of discounted distressed cargoes to fill its strategic reserves and meet domestic demand, as well as the increased risk and insurance costs associated with long-haul shipments to East Asia via contested waters.”

Until recently, Trump had been strongly pressuring India to stop buying Russian oil, even slapping additional 25 percent trade tariffs on India last year in punishment for doing so. This was lifted earlier this year when Trump claimed he had received assurances from India’s Prime Minister Narendra Modi that India would start buying US oil, or even Venezuelan oil seized by the US, instead.

Which countries are buying Russian oil now?

Indian media has reported that India’s purchases of Russian crude have surged in the past three weeks, since the war on Iran began and the Strait of Hormuz was closed.

“The primary buyers of Russian oil continue to be India and China, who together now account for the vast majority of Russia’s seaborne exports,” Voloshin said.

Turkiye is also a significant buyer, he added, now using Russian crude to stabilise its domestic market amid the gas shortages caused by the Israeli strikes on Iran’s South Pars field.

“Additionally, a shadow fleet of ageing tankers continues to move Russian oil to smaller, less-regulated refineries across Southeast Asia and the Middle East, often through complex ship-to-ship transfers designed to obscure the origin of the crude,” he added.

He said this shadow fleet is becoming the primary delivery mechanism for oil in several contested regions, meaning more buyers could appear. “Additionally, the degree of cooperation between the US and its European allies remains a wild card. If the EU continues to refuse participation in military operations near Iran, the diplomatic and economic pressure on the US to maintain the Russian oil reprieve will likely increase.”

Will Russian oil remain in demand if the US re-imposes sanctions?

If there is nowhere else to readily source oil, countries may continue to seek Russian crude even if the US reimposes sanctions, Voloshin said. The International Energy Agency (IEA) says the closure of the Hormuz Strait has caused a shortage of 8 million barrels of oil per day.

If that persists, “major importers like India may feel they have no choice but to continue buying Russian oil to prevent domestic economic collapse”, Voloshin said.

If secondary sanctions on Russian oil are reintroduced, he added, buyers may demand much lower prices to compensate for the increased legal and financial risks of dealing with Moscow. “At the same time, in the presence of a continued severe market disruption, the US is very likely to roll over [extend] current exemptions,” Voloshin said.

Which other energy-producing nations could benefit?

Two other major non-OPEC energy producers that could benefit are Norway and Canada, experts say. However, this will largely depend on their capacity to increase production.

“Norway has already signalled its intent to maintain maximum gas and oil production to support European energy security, primarily selling to EU nations seeking to replace lost Iranian and Russian volumes,” Voloshin said. “Canada is exploring ways to increase its export capacity to the US Gulf Coast. However, like Russia, its ability to significantly ramp up production in the short term is constrained by pipeline throughput and infrastructure bottlenecks.”

Gulf countries are coming increasingly under attack from Iranian strikes as the United States-Israeli war on Iran continues to escalate.

On Friday, Saudi Arabia intercepted multiple waves of Iranian drones and Kuwait Petroleum Corporation said its Mina al-Ahmadi refinery had been targeted by several early-morning drone attacks, leading to some units being shut down.

Gulf countries have repeatedly insisted that their defences are sufficient to repel these Iranian strikes. However, they also have military partnerships and agreements in place with other countries which could potentially provide more assistance as tensions escalate.

In this explainer, we look at what these partnerships are, how they are helping the Gulf and whether they could do more.

What military partnerships do the Gulf countries have?

The Gulf countries have a handful of military partnerships of different kinds.

Qatar

Qatar is home to the largest military base hosting US assets and troops in the region – Al Udeid.

The 24-hectare (60-acre) base, located in the desert outside the capital Doha, was established in 1996 and is the forward headquarters for US Central Command, which directs US military operations in a huge swath of regional territory stretching from Egypt in the west to Kazakhstan in the east.

It houses the Qatar Emiri Air Force, the US Air Force, the United Kingdom’s Royal Air Force, as well as other foreign forces.

Qatar is the second largest Foreign Military Sales (FMS) partner to the US after Saudi Arabia. FMS is the official, government‑run channel the US uses to sell weapons, equipment and services to other governments.

In January, the US State Department said that “recent and significant” sales to Qatar included the Patriot long-range missile system, the National Advanced Surface to Air Missile System, early warning systems, radars and attack helicopters.

On September 9, 2025, Israel struck a residential area of Qatar’s capital, Doha, targeting senior leaders of Hamas including negotiators for a ceasefire in Israel’s genocidal war in Gaza.

On September 29, US President Donald Trump signed an executive order reaffirming support for Qatar, saying: “The United States shall regard any armed attack on the territory, sovereignty, or critical infrastructure of the State of Qatar as a threat to the peace and security of the United States.”

On Wednesday, Israel struck Iran’s critical South Pars gasfield. Soon after, Iran retaliated, hitting a major gas facility at Qatar’s Ras Laffan plant.

In response, Trump wrote in a Truth Social post guaranteeing that Israel would not attack the South Pars field again unless Iran again “unwisely” attacked Qatar.

Trump added that, if it did, the US “with or without the help or consent of Israel, will massively blow up the entirety of the South Pars Gas Field at an amount of strength and power that Iran has never seen or witnessed before”.

There is also a Turkish military base in Qatar as the two countries collaborate via defence cooperation agreements and joint training.

In recent years, Qatar has also strengthened ties with the United Kingdom through joint training and exercises and with France from which it buys weapons.

Earlier this month, UK Prime Minister Keir Starmer said he would send four additional Typhoon fighter jets to Qatar to help with defence.

Despite initially stating that the UK would not permit the US to use UK bases for strikes on Iran, Starmer partially relented on March 1 when he granted a US request to use UK bases for “defensive” strikes on Iranian capabilities.

Nevertheless, Starmer has stated that the UK will not send its own assets or troops or otherwise become involved in the ongoing war.

Saudi Arabia

Saudi Arabia hosts US military assets and personnel at the Prince Sultan Air Base (PSAB), located near Al Kharj, southeast of Riyadh.

Saudi Arabia is also the largest Foreign Military Sales (FMS) partner of the US.

There is no formal mutual‑defence treaty between the US and Saudi Arabia, similar to NATO’s Article 5. Instead, there are defence cooperation agreements between Riyadh and Washington.

Pakistan and Saudi Arabia have had a decades-long security partnership. This was strengthened in September 2025, when the two countries signed a formal mutual defence pact.

The extent to which Pakistan, which shares a 900km (559-mile) border with Iran in its southwest, can and will intervene is unclear, however.

On March 3, Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar told a news conference he had personally reminded Iranian Foreign Minister Abbas Araghchi of Pakistan’s defence obligations to Saudi Arabia.

“We have a defence pact with Saudi Arabia, and the whole world knows about it,” Dar said. “I told the Iranian leadership to take care of our pact with Saudi Arabia.”

An estimated 1,500 to 2,000 Pakistani troops are stationed in Saudi Arabia.

United Arab Emirates

The UAE also hosts US assets and personnel at its Al-Dhafra airbase, including advanced aircraft such as F-22 Raptor stealth fighters and various surveillance planes, drones and airborne warning and control systems (AWACS).

On Thursday, the US announced an $8.4bn arms deal with the UAE, for the Gulf nation to buy drones, missiles, radar systems and F-16 aircraft.

Recently, the UAE has bolstered its military partnership with India. In January this year, the president of the UAE, Sheikh Mohamed bin Zayed Al Nahyan, visited India.

During this meeting, India and the UAE reaffirmed the India-UAE Comprehensive Strategic Partnership. Established in 2017, this is a bilateral agreement focused on defence cooperation, energy security and technology exchange.

The UAE and India do not have a mutual defence-style agreement in place, however.

Oman

The US has long-term access agreements for key air and naval facilities in Oman, notably the Port of Duqm and Port of Salalah, both of which have been subject to Iranian strikes over the past three weeks.

The UK and Oman also have a defence cooperation agreement and conduct regular joint exercises.

Pakistan and Oman also have military ties where they hold regular joint naval exercises.

However, there are no mutual defence commitments in place.

Bahrain

The US operates the Naval Support Activity (NSA) in Bahrain. Home to the US Navy’s Fifth Fleet, the base provides security to ships, aircraft, detachments and remote sites in the region.

Bahrain and the UK also have a comprehensive security pact. Earlier this month, Starmer held talks with King Hamad bin Isa Al Khalifa of Bahrain and confirmed that the UK would send aircraft to bolster Bahrain’s security.

Kuwait

Kuwait hosts Camp Arifjan, a major US Army installation that functions as the main logistics, supply and command hub for US military operations across the Middle East, especially within the US Central Command (CENTCOM) area of responsibility.

On Thursday, the US announced an $8bn arms deal with Kuwait – for air and missile defence radar systems.

In 2023, Kuwait signed an agreement on military cooperation with Pakistan, focusing on joint training and military exercises.

These are not mutual defence agreements, however.

What could these partners be doing to better assist Gulf countries?

Experts say military allies of Gulf nations could provide naval escorts to ships transiting the Strait of Hormuz. One-fifth of the world’s oil and gas supplies are shipped through this route in peacetime from Gulf producers.

On March 2, Ebrahim Jabari, a senior adviser to the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), announced that the Strait of Hormuz – through which 20 percent of the world’s oil and gas is transported – was “closed”. This has contributed to the recent surge in oil prices, which have surpassed $100 a barrel, compared with the pre-war Brent crude price of about $65.

In recent days, countries have been individually scrambling to negotiate safe passage for ships with Iran. A handful of mainly Indian, Pakistani and Chinese-flagged ships have been able to get through as a result.

“Pakistan and India are working with Iran to ensure of safe passage of tankers for their markets,” David Roberts, a senior academic in international security and Middle East studies at Kings College London, told Al Jazeera.

Roberts said that theoretically, the countries could also offer a naval escort for their tankers and other tankers.

“As neutrals, this might be a plausible gambit, but would need the acquiescence of Iran. Support establishing a shipping channel from the monarchies to China, Pakistan, India is plausible with concerted pressure from the three states, but Iran will be reluctant to give up that pressure point.”

Roberts said that European countries on the other hand, are “stretched thinly” when it comes to offering any such military support in the Strait of Hormuz.

He suggested the UK could send “another plane or two” to Qatar to join their joint Typhoon squadron. However, he added that it is difficult to make predictions about what support is likely to be forthcoming.

“Gulf states clearly need support. But it’s not clear what can be offered by anyone,” Roberts said.

He added they likely need more munitions for missile defence but stocks are tight everywhere.

EXPLAINER

Tehran has warned of zero restraint if energy facilities are attacked again, while Netanyahu signals that there could be a ‘ground component’ to the war.

Iran has warned it will show “zero restraint” if its energy facilities are attacked again, a day after Israel struck the South Pars gasfield and Tehran attacked energy sites across the Gulf.

In the United States, President Donald Trump raised controversy during a meeting with Japan’s Prime Minister Sanae Takaichi by invoking the 1941 bombing of Pearl Harbour while defending the element of surprise in the Iran attack.

Meanwhile, as the conflict intensifies, concerns over supply disruptions have pushed global oil and gas prices higher, with sharp increases reported across the United Kingdom and Europe.

In Iran

• Escalation: After Israel struck Iran’s South Pars gasfield, Tehran hit targets in Haifa, Israel, and Ras Laffan, Qatar, warning of “zero restraint” if its energy facilities are attacked again and claiming Iran has only used a “fraction” of its firepower so far.
• Widespread regional missile strikes: Iran’s Islamic Revolutionary Guard Corps (IRGC) announced a new wave of missile and drone attacks on US bases and central and southern Israel, including Tel Aviv, Haifa, and Jerusalem.
• Humanitarian toll:  The Iranian Red Crescent Society reported that more than 18,000 civilians have been injured and 204 children have been killed in Iran since the war began on February 28. In all, more than 1,400 people have been killed in Iran.
• US airbase in Germany: Iran said it had asked Germany to clarify the role of the Ramstein Air Base in the war. “The role of Ramstein is not officially clear for us,” Tehran’s ambassador to Germany, Majid Nili, said. The Ramstein Air Base matters because it is one of the US military’s most important hubs and a key link in operations in the Middle East.
• Macron eyes UN action on Hormuz: French President Emmanuel Macron said he will consult United Nations Security Council members on a framework to secure navigation in the Strait of Hormuz, a vital global chokepoint through which about 20 percent of the world’s oil and gas flows – once fighting subsides.

In the Gulf

• Gulf attacks: UAE and Kuwaiti air defences were responding to missile attacks on Friday, authorities in the Gulf states said. Saudi Arabia’s Ministry of Defense said it had intercepted and destroyed 10 drones in the country’s east and another in the north.
• UAE arrests: Authorities detained at least five members of a “terrorist network” linked to Iran and Hezbollah that allegedly used business fronts to infiltrate the economy as part of a coordinated external plan, the official WAM news agency reported.
• Qatar – Ras Laffan attack: Iran hit Qatar’s key LNG facility, cutting about 17 percent of output for as long as five years, the CEO of QatarEnergy has said. With Qatar supplying 20 percent of global LNG, disruptions are expected, with force majeure likely on some contracts to Belgium, Italy, South Korea, and China. Diplomatically, Qatar’s prime minister and Turkiye’s foreign minister held a joint news conference condemning the act of sabotage as a “dangerous escalation” by Iran. On Thursday, Qatar’s defence forces again reported ballistic missile attacks.
• Missile and drone interceptions in Bahrain: Bahrain’s Defence Force reported shooting down five incoming missiles recently, bringing its total interceptions to 139 missiles and 238 drones since the start of the conflict more than two weeks ago.

In the US

• ‘Pearl Harbour’ remarks: Trump defended not informing allies about the US strikes on Iran, saying “we wanted surprise.” He then turned to Japanese Prime Minister Sanae Takaichi, who was visiting the White House and was seated next to him, and invoked the 1941 bombing of Pearl Harbour, saying, “Who knows better about surprise than Japan? Why didn’t you tell me about Pearl Harbour, OK? Right?”
• Diplomatic shockwaves: Analyst Mireya Solis called Trump’s Pearl Harbour remark to Japan’s PM “unusual – a shock” that brings up a bitter rivalry rather than emphasising shared allied bonds.
• US war objectives unchanged: Defense Secretary Pete Hegseth said US goals remain the same since February 28 – targeting Iran’s missile systems, military industry and navy, and preventing a nuclear weapon, with no set end date.
• No US ground troops: Trump said he was not sending US ground troops to Iran, telling reporters: “If I were, I certainly wouldn’t tell you. But I’m not putting troops.” However, Trump has frequently changed his position on whether he is open to deploying boots on the ground in Iran.
• F-35 incident: A US F-35 fighter jet made an emergency landing at a Middle East airbase after a combat mission over Iran. The aircraft landed safely and the pilot is stable, while US officials investigate reports it may have been struck by Iranian fire. If that is the case, it would be the first US jet struck by Iran during the current war.

In Israel

• Explosions over Jerusalem: Israel’s military said it had identified three rounds of missile fire in the hour and a half preceding midnight, and another a few hours later.
• Netanyahu says Iran ‘decimated’: Israeli Prime Minister Benjamin Netanyahu said at a news conference he saw “this war ending a lot faster than people think … We are winning and Iran is being decimated.”
• Trump and Netanyahu: Netanyahu also denied that Israel “dragged” the US into the war, asking, “Does anyone really think that someone can tell President Trump what to do?”
• Israel ‘acted alone’: The PM also said Israel acted on its own when it struck an Iranian gasfield. “President Trump asked us to hold off on future attacks and we’re holding out.”
• Netanyahu signals possible ground phase: “It is often said that you can’t win, you can’t do revolutions from the air. That is true. You can’t do it only from the air. You can do a lot of things from the air, and we’re doing, but there has to be a ground component as well,” the Israeli prime minister said in his remarks.
• Next stage questions: Al Jazeera’s Rob McBride described Netanyahu’s comments about a possible ground component as “intriguing”, suggesting a potential next stage while raising questions about how it would unfold. Netanyahu’s remarks were also seen as an attempt to reassure Israelis that the nearly three-week war has been worthwhile.
• Core objectives: Netanyahu also reiterated goals of dismantling Iran’s nuclear programme, degrading its ballistic missile capabilities, and shaping conditions for a future without the “current regime”.
• Regional framing: “In a wider sense, he was also claiming that with their American allies, they were reshaping the Middle East altogether, and that the balance of power and the dynamics within that – that Israel, he said, had never been stronger, while Iran, he claimed, had never been weaker,” McBride said.

In Lebanon

• Severe humanitarian crisis and displacements:  Since Israeli attacks on Lebanon escalated on March 2, the death toll in the country has surpassed 1,000 people, with at least 2,584 wounded. Furthermore, residents in towns such as Machghara and Sahmar in the Bekaa Valley reported receiving threatening phone calls from foreign numbers urging them to evacuate.
• Ongoing clashes and military actions: Fierce fighting continues in southern Lebanon, where the Israeli army has expanded its ground troop presence. Hezbollah has claimed responsibility for multiple attacks, including firing missiles at Israeli soldiers and vehicles in the southern Lebanese towns of al-Aadaissah, Meiss el-Jabal, and Maroun al-Ras.
• Diplomatic efforts for a truce: Amidst the heavy fighting, Lebanese President Joseph Aoun has renewed calls for a truce and the opening of negotiations with Israel to end the war.

Oil and gas

• Global economic effect: The Ras Laffan strike cut about 17 percent of LNG capacity, with losses near $20bn a year and an estimated 9 percent annual hit to Qatar’s gross domestic product, according to Al Jazeera’s Dmitry Medvedenko, who was reporting from Doha.
• Soaring global prices: Concerns over these supply disruptions have triggered a surge in global oil and gas prices. Gas prices have risen sharply across the UK and Europe. The ripple effects are being felt in developing nations as well; for instance, fuel prices in Zimbabwe recently topped $2 per litre for the first time as a direct result of the conflict’s effect on oil and gas exports.
• International pushback and warnings: Due to the escalating energy crisis, the European Council has urgently called for a moratorium on strikes against energy and water facilities.
• US may ‘unsanction’ Iranian crude: US Treasury Secretary Scott Bessent said Washington might “unsanction” Iranian oil that is already being shipped to ease oil prices. In comments to Fox Business, Bessent also said the US government could release more oil from its strategic reserves.

An Iranian missile struck an oil refinery in the Israel city of Haifa. The plant produces half of Israel’s domestic fuel supplies. Power was briefly disrupted before being restored, with no casualties reported. Iran’s Revolutionary Guard said it targeted refineries and military sites in the attack.