Daily brief
A series of attacks in the Persian Gulf, including drone strikes attributed to Iran, has caused major disruptions to energy and shipping. Saudi Aramco has shut its Ras Tanura refinery, Qatar has halted LNG production, and major insurers have stopped war-risk coverage for ships in the area. Pricing agencies have also suspended assessments for Gulf oil and product loadings.
Oil shipping costs from the Middle East to China have doubled amid the conflict.
Flights to and from the Gulf region are heavily disrupted, with Dubai airport reportedly blocked and hotels full, while Canadian flights to the area remain cancelled.