Qatar has shot down two Iranian Sukhoi SU24 bombers and halted liquefied natural gas (LNG) production after drone strikes hit key energy sites, sending global energy prices soaring. The country’s air force downed the Iranian jets, and QatarEnergy suspended production at its Ras Laffan Industrial City, a major LNG export facility, due to the attacks. This move has triggered a significant surge in European gas prices, with some reports indicating a 50-54% increase.
The situation is part of a broader escalation in the Gulf region, with Iran targeting energy infrastructure in Saudi Arabia, the UAE, and other countries in retaliation for US and Israeli strikes. The attacks have raised concerns about global energy security, with oil prices jumping nearly 9% and Brent crude reaching its highest level since January 2025.
The Strait of Hormuz, a critical shipping route for global oil and gas supplies, is also under threat, with Iran reportedly closing the waterway to maritime vessels. This has led to increased insurance premiums and freight rates, with some vessels avoiding the area altogether.
