Qatar warns the energy shock from the Iran war has yet to peak

“We haven't reached the peak with respect to energy,” said Sheikh Saoud bin Abdulrahman Al Thani, Qatar's deputy prime minister, warning of more fallout in the coming months.

— Sheikh Saoud bin Abdulrahman Al Thani

The Strait of Hormuz, a vital route for oil and liquefied natural gas, has stayed unstable since the US-Israeli attacks on Iran on Feb 28.

Background

Iranian strikes in March damaged Qatar's Ras Laffan industrial complex, and repairs are expected to take several years.

Al Thani said transit fees should not be charged to ships in the strait, warning that uncertainty there would hit consumers worldwide.

What's next

He said Qatar hopes mediation with Pakistan and Oman can lead to an agreement between the US, Iran and other parties, including Israel.