Business · 9 March 2026
Brent Crude Rises to $103, Shutting Energy Sites
Unsplash / Juho Luomala
Higher energy costs are affecting daily expenses for travel, factories, and food production. The conflict involving Iran has led to drone attacks and the Strait of Hormuz is mostly closed, reducing output and stopping key energy facilities. Qatar's main LNG terminal at Ras Laffan, responsible for 20% of global supply, was shut down. Iraq also cut 1.5 million barrels daily.
Reported by The Economic Times · How we write briefs