The United States launched a second consecutive day of major military strikes against Iran on Tuesday, targeting about 90 military sites along its coastline, as Tehran retaliated by firing missiles and drones at US military facilities in Bahrain and Kuwait, sharply escalating tensions across the Gulf.
The International Energy Agency (IEA) forecasts global natural gas demand will fall 0.5 per cent in 2026 as Middle East conflict-driven supply disruptions, higher prices and reduced LNG flows through the Strait of Hormuz weigh on consumption.
Oil prices climbed nearly 2% on Wednesday as renewed US airstrikes on Iran and fresh sanctions on Tehran's oil exports reignited concerns over supplies from the Middle East after attacks on commercial vessels in the Strait of Hormuz.
The United States launched a fresh wave of military strikes across Iran overnight, targeting more than 80 sites after Tehran resumed attacks on commercial shipping in the Strait of Hormuz, further destabilising a fragile ceasefire agreed less than three weeks ago.
Attacks on commercial shipping resumed in the Strait of Hormuz, with two vessels struck in separate incidents that have heightened fears over the security of the shipping lane and threatened to derail recent diplomatic efforts to reduce tensions.
Shipping between Iran’s Dayyer port and Qatar’s Al Ruwais port has resumed following coordination between the Iranian embassy in Doha and Qatari authorities, a Reuters report said quoting Iran’s commercial attaché in Doha.
Iran and the US concluded a round of indirect talks on Wednesday with no sign they had made headway toward a lasting peace, focusing instead on issues that they said had been resolved when an interim deal was announced two weeks ago. Sources said negotiators spent two days in Doha discussing maritime traffic in the Strait of Hormuz.
Iran launched renewed attacks on US Gulf allies on Saturday after the United States completed a seventh consecutive night of strikes targeting Iranian military infrastructure, marking a sharp escalation one week after a fragile ceasefire collapsed, said media reports.
The General Command of the Bahrain Defence Force (BDF) said that its air defence systems successfully intercepted and destroyed several treacherous Iranian aerial attacks on Friday.
The United States intensified its military campaign against Iran on Tuesday, reimposing a naval blockade of Iranian ports, launching another wave of strikes on military targets and warning of attacks on key infrastructure unless Tehran returns to negotiations.
