Iranian strikes hit Gulf oil infrastructure, disrupting Qatari production and hitting Omani and UAE sites, escalating regional tensions and market fears.
MUSCAT: Oil infrastructure across the Gulf came under renewed Iranian attack. Qatar’s state energy firm halted key production after strikes on two gas plants.
The attacks prompted an immediate 2% rise in aluminium prices on the London Metal Exchange. QatarEnergy suspended downstream production of urea, polymers, methanol and aluminium.
In Oman, several drones targeted the port of Duqm on its eastern coast. A security source quoted by the official Oman News Agency said the resulting damage was contained without casualties.
This was the second attack on Duqm in three days. On Sunday, a worker was injured when two drones struck the same port.
Oman also shot down two further drones on Tuesday. Another crashed near its Salalah port, state media said.
In the UAE, falling debris from an intercepted drone caused a fire at an oil storage zone in Fujairah. Authorities reported no injuries and said the fire was brought under control.
The UAE says it has been targeted with over 800 drones and nearly 200 missiles since the war erupted. QatarEnergy had already suspended LNG production on Monday due to earlier drone strikes.
Analysts for ING bank said the suspension of aluminium production would place pressure on the market. They highlighted that around 8% of global aluminium production is concentrated in the Gulf.
A general in Iran’s Revolutionary Guards threatened on Monday to “burn any ship” seeking to navigate the Strait of Hormuz. This vital route is crucial for global oil and gas shipments.
Qatari foreign ministry spokesman Majed al-Ansari said Iranian missiles had targeted Doha airport but were downed by the military. Iran broadened its targets on Monday to include infrastructure in Saudi Arabia, the UAE and Qatar.
