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Iran War Sparks Oil Prices Surge Amid Infrastructure Crisis

3/11/2026

34 6 Full Breakdown

Summary

Story summary

The ongoing Iran war disrupts critical oil and gas infrastructure in the Persian Gulf.
Iranian drone strikes close the Strait of Hormuz, which carries 20% of the world's oil.
Iraq and Qatar reduce output due to storage limitations.
QatarEnergy shuts down LNG exports after a drone strike.
Brent crude rises from $72.97 to nearly $103.

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Story summary

The ongoing Iran war disrupts critical oil and gas infrastructure in the Persian Gulf.
Iranian drone strikes close the Strait of Hormuz, which carries 20% of the world's oil.
Iraq and Qatar reduce output due to storage limitations.
QatarEnergy shuts down LNG exports after a drone strike.
Brent crude rises from $72.97 to nearly $103.