In less than 24 hours, Iran struck Ras Laffan twice — the world’s largest liquefied natural gas export complex before the conflict — and hit refineries in Kuwait and Saudi Arabia. The benchmark crude price is trading at levels not seen since 2022. For Argentina, the equation has two sides, and neither is neutral.
Goldman Sachs projects Brent crude at $85 for April, assuming a short disruption in the Strait of Hormuz. But even with an immediate ceasefire, the energy infrastructure hit in Qatar, Saudi Arabia and the United Arab Emirates will take months to recover. In Friday’s Shale24 Morning Call, the analysis identified the gap between what prices are discounting and what the actual damage implies as the central risk the market has not yet fully priced in.
The Islamic Revolutionary Guard Corps (IRGC) did not need a war fleet to paralyze 20% of the global oil supply. Targeted attacks on commercial vessels — and the collapse of the maritime insurance market that followed — were enough. Now there are mines in the water that struck the cargo ship Mayuree Naree today in the Strait of Hormuz.
The analyst, Rystad Energy’s vice president for Latin America, discusses the oil and gas outlook shaking the Middle East and its repercussions for Argentina.
Analysts say Iran is using the threat to the Strait of Hormuz to pressure the United States, putting the promise of cheap energy at risk. The conflict is adding political strain just months ahead of the midterm elections.
Leading Middle East, national security and intelligence expert Danny Citrinowicz argues that the Trump administration faces a strategic dilemma: U.S. and Israeli military superiority does not guarantee a political victory against a regime that will not yield on its nuclear program.
A focal point of international tensions, Iran holds the world’s third-largest proven oil reserves, estimated at about 208 billion to 209 billion barrels at the end of 2024, accounting for roughly 12% of global reserves and 24% of those in the Middle East
