Oil and gas markets respond to the conflict in the Persian Gulf

The conflict in the Persian Gulf is already disrupting shipping in one of the most significant oil and gas-producing regions in the world. Tanker traffic in the Strait of Hormuz has all but ground to a halt, and major oil and LNG facilities in Qatar, Saudi Arabia, and the United Arab Emirates have been disrupted. Meanwhile, oil and gas prices are spiking as concerns grow over how long the conflict could last.