Gulf countries declare force majeure on gas exports after US-Israel war on Iran disrupts Strait of Hormuz shipping

Exam-focused facts from the 18 March 2026 current affairs briefing.

Key facts

QatarEnergy halted gas liquefaction on 2 March, triggering global LNG market disruption.
Kuwait Petroleum Corporation and Bahrain’s Bapco Energies declared force majeure days later.
India invoked force majeure on 11 March to redirect gas supplies from non-priority to priority sectors.
Iran’s Islamic Revolutionary Guard Corps (IRGC) and supreme leader Mojtaba Khamenei warned the Strait of Hormuz is closed to shipping.
Qatar accounts for nearly 20% of global LNG supply, intensifying market shortages and price spikes.
US LNG exporters could gain $4bn windfall profits in the first month, rising to $108bn over eight months if disruption persists.
Omani trading house OQ declared force majeure to a Bangladeshi customer after Qatari supply halt.