Top oil chief executives have raised the alarm over Israel and Iran’s escalating conflict, warning about the consequences of further attacks on key energy infrastructure.
Israel’s surprise attack on Iran’s military and nuclear infrastructure on Friday has been followed by four days of spiraling warfare between the regional foes.
Some oil and gas facilities have been hit in both countries in recent days, although major energy infrastructure and crude flows have so far been spared.
The potential for major supply disruption remains a key concern, however, particularly worst-case scenarios such as Iran blocking the highly strategic Strait of Hormuz.
“The last 96 hours have been very concerning … both for the region but more broadly in terms of where the global energy system is going given the uncertainty and the backdrop that we see right now and the geopolitical volatility,” Shell
