Iraq has shut down some oil wells. As have Kuwait, Qatar, Bahrain, the Emirates and Saudi Arabia. Qatar has also shut down is gas wells and the process ‘trains’ needed to liquefy natural gas. All this because of the virtual closure of the Strait of Hormuz and because of potential missile and drone attacks on the fragile production installations. While oil and LPG prices have increased the global markets have not yet recognized the length and severity of the supply crunch these shut...























