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Gulf Leaders Convene in Jeddah to Counter Iranian Oil Strikes

Gulf leaders are holding an extraordinary GCC summit in Jeddah to coordinate responses to Iranian missile and drone strikes damaging energy infrastructure across all six states. The conflict ignited on February 28 after U.S. and Israeli strikes on Iran, prompting thousands of attacks until a ceasefire on April 8 reduced their pace. Despite the lull, Gulf capitals fear resumption, heightening oil supply risks; the meeting's outcomes could trigger volatility or spikes in crude prices if tensions escalate.

Category

UK Brent Oil

Sentiment

Mixed

Event

Policy impact

Reading time

1 min