Oil price at two-year high after Qatar warns all Gulf production could stop within days
Saad al-Kaabi told the Financial Times the conflict in the Middle East - a region which plays a key role in global energy supplies and shipping routes - could "bring down the economies of the world". Kenya breaking news | Kenya news today |..
✨ Key Highlights
Oil prices have surged to a two-year high following warnings from Qatar's energy minister that all Gulf oil and gas production could cease within days due to escalating regional conflict.
- Brent crude oil topped $93 a barrel, an increase of over 9%.
- Qatar's Energy Minister, Saad al-Kaabi, stated that continuous conflict could "bring down the economies of the world" and potentially push oil prices to $150 a barrel.
- QatarEnergy has already halted LNG production citing "military attacks," and other Gulf exporters are expected to follow suit if the conflict persists, impacting global shipping routes like the Strait of Hormuz.
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Oil price at two-year high after Qatar warns all Gulf production could stop within days - March 2026
Oil prices have surged to a two-year high following warnings from Qatar's energy minister that all Gulf oil and gas production could cease within days due to escalating regional conflict. This oil price surge has driven a significant increase in jet fuel prices, which analysts warn could push up air travel costs and potentially lead to flight cancellations. In response to these fuel supply disruptions, Kenya Airways has temporarily suspended its Nairobi–Dubai repatriation flight effective yesterday due to new security guidance from Dubai International Airport authorities.
