Middle East conflict disrupted global natural gas markets, cutting nearly 20 per cent of LNG supply via the Strait of Hormuz, causing supply shocks, uncertainty, and sharp price increases worldwide, according to the International Energy Agency’s (IEA) latest quarterly gas market report.
Conflict between the US, Israel and Iran has disrupted Strait of Hormuz shipping, exposing limited export alternatives. Existing pipelines offer partial relief, while proposed routes face major political, security and financial challenges.
Skyscanner, a global leader in travel, has launched the Skyscanner app in ChatGPT, enabling travellers in the Middle East to search and find the best possible options and price choices for flights in ChatGPT.
German energy giant E.ON expects electricity and gas prices to continue climbing over the long term as a result of ongoing tensions in the Middle East, according to senior company officials.
European gas prices have surged following rising tensions in the Middle East, as failed ceasefire talks between Iran and the US unsettle global energy markets.
The European Commission (EU) has urged member states to cut their use of oil and gas—especially in transportation—due to the ongoing energy crisis and the risk of supply disruptions linked to the war in the Middle East.
The International Energy Agency (IEA ) launched a policy tracker monitoring government responses to Middle East energy market impacts, detailing measures to conserve energy, protect consumers, and address supply disruptions and price volatility in oil, oil products, and LNG markets.
The Middle East’s MICE sector signals strong economic confidence, with rapid growth driven by venue investment and global partnerships. The UAE and Saudi Arabia lead, with markets projected to reach $9.26 billion and $5.33 billion by 2030, advancing diversification and regional competitiveness.
TotalEnergies says the Middle East conflict has forced production shutdowns or pending closures in Qatar, Iraq and offshore United Arab Emirates fields, affecting around 15 per cent of its total output.
SLB is monitoring the Middle East situation, prioritising employee safety, suspending travel, and demobilising operations. First-quarter revenue is expected lower, with earnings impacted. Despite disruptions, the company remains confident in its global business resilience.
