Iran War: Another Blow To Global Energy Security

 According to information released by American media on March 4, the conflict in Iran, which has now spread to most regions of the Middle East, is disrupting the global energy market.

 Iran has effectively closed the Strait of Hormuz, and oil and gas production in the region has come to a standstill. Qatar is the world's second-largest exporter of liquefied natural gas (LNG), and after Iranian drone attacks caused a significant disruption in global supply, Qatar has suspended LNG production.

 About 70% of Qatar's liquefied natural gas is exported to Asia, and 25% is exported to Europe. This conflict and its impact on global energy supply have led to a surge in natural gas prices in Asia and Europe. The European liquefied natural gas benchmark price has increased by more than 70%, and the Northeast Asian benchmark price has also risen to a new high in a year.