A view of the Lanaz Oil Refinery in Erbil, Iraq, on March 14, 2026, following a kamikaze unmanned aerial vehicle (UAV) attack. [Stringer - Anadolu Agency]
Twenty days into the escalating confrontation involving Iran, the United States and Israel, it has become increasingly clear that this is not merely a conventional military conflict. Beyond the battlefield, a parallel struggle is unfolding in global energy markets, where oil and gas are no longer just economic commodities, but strategic instruments of power, pressure and deterrence.In this evolving landscape, energy diplomacy has moved from negotiation tables into operational reality. Decisions surrounding production, transit routes and infrastructure security are now directly shaping the trajectory of the conflict and its wider geopolitical implications. The Strait of Hormuz: A strategic lever in a time of crisis Recent developments have once again underscored the centrality of the Strait of Hormuz—one of the world’s […]

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