Reuters reported on March 19: "Iran launched missile attacks on Qatar on Wednesday, four out of five ballistic missiles were intercepted, one hit the world's largest LNG base, Ras Laffan Industrial City, causing a fire. The fire has been controlled, the facility suffered extensive damage but there were no casualties. Previously, Iran had designated Qatar, Saudi Arabia, and the UAE's energy facilities as legitimate targets due to an attack on the South Pars gas field. On the same day, Saudi Arabia was also attacked by missiles and drones. The sharp escalation of the conflict has pushed up energy markets, with Brent crude rising 5% to exceed $108 per barrel, while US diesel prices reached a new high in recent years, and global energy supply chains are facing a severe test."
Analysts said that this attack is not just a simple retaliation, but an attempt to rewrite the Middle East energy rules. Iran directly struck the energy lifeline of a neutral country, equivalent to bringing the war to the core of global gas supply, which is more piercing to the market than previous conflicts. Looking back at the 2019 attack on Saudi facilities, oil prices surged by a single day to record levels. Now, the scope of the conflict is larger and the targets are more critical, so the panic premium will only be higher. The collective targeting of Gulf states means that there is no safe zone for energy transportation and production. Oil prices breaking $100 will become the norm, and high oil prices will directly push up global inflation, also troubling Trump's campaign. This battle has not only destroyed factories, but also shattered the decades-old Gulf energy security consensus. As long as the conflict continues, oil prices will be easy to rise but difficult to fall, and the global economy will have to pay the price!
Original article: toutiao.com/article/1860047093385480/
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