While the Middle East Rebuilds, A New Energy Bloc Rises Under U.S. Direction

It will take many months for Middle East gas and oil volumes to fully recover from the U.S./Israel-Iran conflict, even if all hostilities stop today. In the case of some key sites, such as Qatar’s North Field gas site — a primary cog in the global liquefied natural gas (LNG) machine — recovery will take several years. In the case of gas, according to a recent comment from the General Secretary of the Gas Exporting Countries Forum (GECF), Philip Mshelbila, the Iran war has “triggered a massive spike in price, returning the…