Iran Closes the Strait of Hormuz, Upending Global Energy

After US-Israeli strikes on Tehran in February 2026, Iran shut the Strait of Hormuz — a chokepoint carrying a fifth of global oil and gas — and struck Gulf infrastructure, including Qatar's Ras Laffan LNG complex. Seventeen percent of Qatari LNG exports went offline. Japan eased limits on high-emission coal plants; South Korea delayed planned coal shutdowns.