Business & Economics

Hormuz Bottleneck: Iranian Strikes Freeze Gulf Shipping, Send Oil & Gas Prices Vertical

After weekend U.S.–Israel–Iran clashes, Tehran-linked drone hits forced QatarEnergy to shut LNG output and tanker traffic through the Strait of Hormuz stalled on 2 Mar 2026, triggering the steepest one-day jump in European gas (+52%) and Brent oil (+13%) since Russia’s 2022 Ukraine invasion.