Global Oil Shock Deepens As Middle-East War Triggers Multiple Force Majeures #NDTV
Global Oil Shock Deepens As Middle-East War Triggers Multiple Force Majeures
On Day 10 of the war, the global energy crisis is intensifying. Bahrain’s state oil company under Bapco Energies has declared force majeure after an Iranian attack ignited its refinery-following Qatar’s halt in LPG production and Kuwait’s oil-output cuts. As oil disruptions spread across the Gulf, Iran’s Revolutionary Guards warn of an impending “energy war,” predicting crude prices could skyrocket to $200 per barrel. What does this cascading oil shock mean for the world-and for India?
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