Europe is once again confronted with the uncomfortable reality that global geopolitics can shift the economic outlook overnight. Saturday 28 February, Israeli and American conducted strikes on targets in Iran, in which Iran’s supreme leader, Ayatollah Khamenei, was also killed. In response, Iran carried out drone and missile attacks not only on Israel and American (military) bases, but also on energy infrastructure in several Gulf states. These included attacks on the Ras Tanura refinery of Saudi Aramco and on energy installations in Qatar, after which QatarEnergy suspended liquefied‑gas production. What began as a ... (full story)