Oil prices surged on Thursday, March 19, 2026, after Iran intensified its attacks on its Gulf Arab neighbours’ energy infrastructure, raising further concerns over supply.
Here are the latest developments in the Middle East war:
Kuwait refinery hit
A drone attack on a refinery owned by Kuwait’s national oil company sparked a fire at one of the units.
“Kuwait Petroleum Corporation announced that one of the operational units of the Mina Al-Ahmadi refinery was the target of a drone attack, triggering a limited fire,” the Kuwait News Agency said, adding that no one was injured.
European gas prices jump
European gas prices soared up to 35 percent as fresh strikes hit energy infrastructure in the Middle East, including Qatar’s main gas facility.
The Dutch TTF natural gas contract, considered the European benchmark, jumped to 74 euros, before paring gains slightly.
China slams Israel
China condemned as “unacceptable” the killing of Iranian national security chief Ali Larijani by an Israeli air strike.
“We have always opposed the use of force in international relations. The acts of killing Iranian state leaders and attacking civilian targets are even more unacceptable,” China’s foreign ministry spokesman Lin Jian said.
Two deaths in Iraq
The former paramilitary coalition Hashed al-Shaabi in northern Iraq said two of its fighters were killed in the Nineveh region, where Mosul is located, and an airport in Salah al-Din province targeted in two strikes.
The Popular Mobilisation Forces blamed the attack on Israel and the United States.
Iran executions
Iran executed three people convicted of killing police officers and carrying out operations in favour of the United States and Israel during unrest earlier this year, the judiciary said.
Qatar contains gas hub fires
Qatari civil defence teams have contained fires that erupted at a major gas facility following an Iranian attack, the interior ministry said.
“Civil Defence has fully brought all fires under control in the Ras Laffan Industrial Area without any reported injuries. Cooling and sites-securing operations are still ongoing,” it said.
Qatar’s state-run energy firm said the strikes hit several of its Liquefied Natural Gas (LNG) facilities and caused “extensive” damage.
Oil price rises above $115/bbl after Iran’s attacks on Middle East energy facilities
Saudi not ruling out riposte
Saudi Arabia has not ruled out military action in response to repeated missile and drone attacks from Iran, Foreign Minister Prince Faisal bin Farhan said.
“The kingdom is not going to succumb to pressure, and on the contrary, this pressure will backfire and certainly, as we have stated quite clearly, we have reserved the right to take military actions if deemed necessary,” he said.
Brent oil price soars 10%
Oil prices extended gains on Thursday after strikes against energy infrastructure in the Middle East raised further concerns over supply.
Brent North Sea crude jumped more than 10 percent to $119.13 a barrel, while the main US oil contract West Texas Intermediate rose 2.6 percent to $98.81 a barrel.
Iranian missiles have struck the world’s largest liquefied natural gas hub in Qatar, while drones hit oil refineries in Saudi Arabia and Kuwait.
Cathay suspends Dubai, Riyadh flights
Hong Kong aviation giant Cathay Pacific has suspended flights to and from Dubai and Riyadh until the end of April over the Middle East war.
Trump threatens Iran gas field
US President Donald Trump threatened to destroy Iran’s key South Pars gas field if there were further attacks against Qatar’s main gas plant.
Trump confirmed on his Truth Social platform that Israel had struck the South Pars field but said the US “knew nothing” of the attack, which spurred Iran to launch an attack on Qatar’s Ras Laffan facility.
UAE closes gas facility
Abu Dhabi has shut down operations at a gas facility due to falling debris from missile interceptions, the Emirati capital’s media office said.
Projectile hits vessel near Hormuz Strait
A projectile has hit a vessel off the coast of the United Arab Emirates near the Strait of Hormuz, causing a fire, a British maritime security agency told AFP.
US central bank raises inflation outlook
The US Federal Reserve raised its outlook for inflation as it held interest rates steady, citing an “uncertain” economic outlook due to the war.
Israel vows to keep up strikes
The Israeli military vowed to continue targeting senior Iranian officials, after announcing it had killed Iranian Intelligence Minister Esmail Khatib.
“We will continue to hunt down all of the regime’s senior officials. The series of eliminations will not stop,” a military spokesman said in a televised briefing.
