March 6, 2026
Qatar Energy Minister Says Middle East War Could ‘Bring Down World Economies’
Oil could hit $150 in weeks if shipping through Hormuz collapses, forcing Gulf exporters to declare force majeure, Saad Al-Kaabi said.
TL;DR
- Qatari Energy Minister Saad Al-Kaabi believes a Middle East conflict could lead to the collapse of world economies.
- Oil prices could surge to $150 a barrel within two to three weeks if the Strait of Hormuz is blocked to shipping.
- Exporters in the Gulf region are expected to declare force majeure if the conflict continues.
- Failure to declare force majeure could result in legal liability for exporters.
Continue reading the original article