Following a projectile strike on the Qatari LNG tanker Al Rekayyat near the Strait of Hormuz on July 7, 2026, Qatar Energy paused its production expansion plans at the Ras Laffan complex. The attack, which caused an engine room fire but left the cargo intact, prompted the U.S. to strike Iranian targets and revoke Iran's oil sale license. While the vessel's crew was safely evacuated, the incident raised regional transit threat levels to severe and triggered a 5% jump in global oil prices.
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