Global Energy Markets in Crisis as War Chokes Supply Chains

Oil on War Footing The disruption to Qatar’s LNG system is now spreading through the global trading network. Shell and TotalEnergies have begun notifying customers that deliveries may be disrupted after QatarEnergy halted LNG production following drone strikes on Ras Laffan and Mesaieed. These companies buy cargoes from Qatar and resell them under their own contracts to utilities and industrial buyers across Europe and Asia. When upstream supply stops, those downstream commitments cannot be guaranteed. Traders therefore begin declaring force…