Could the Qatar crisis spike oil prices?
The market wants to shrug off the Riyadh-Doha spat. It’s a risky position
An oil market that loses 4% on a day when Islamic State (IS) attacks Iran's parliament, Tehran blames Riyadh, and Donald Trump tweets his support as Saudi Arabia tries to humiliate another Gulf state is entering unusual territory. Bears still believe tight oil growth, modest US consumption and the frailty of the Opec deal can overwhelm the rising geopolitical risks in the Middle East. It raises the chance of a price shock. The Saudi vs Qatar scrap may end quickly, with the countries' rulers dancing to a more peaceful drumbeat again. But the signs are not good. Riyadh and the other Gulf Cooperation Council (GCC) states on its side are demanding Doha's capitulation. Qatar's willingness to de
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
