Global fuel prices soar as Iran hits Gulf refineries in multiple countries
Posted on: Jan 09, 2026 22:30 IST | Posted by: Cbc
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Good morning. Iran's strikes on energy infrastructure across Saudi Arabia, Qatar and Kuwait mark a significant escalation in a conflict that is now disrupting the global oil supply.
The attacks come a day after Israel targeted an Iranian natural gas field, and as the Strait of Hormuz — one of the world's most critical chokepoints — becomes nearly impassable.
Brent crude has already jumped more than 50 per cent since the U.S. And Israel started the war on Iran on Feb. 28, underscoring mounting fears of a prolonged supply shock.
U.S. Defence Secretary Peter Hegseth and Joint Chiefs of Staff chairman Gen. Dan Caine are due to speak later this morning.
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