Just hours after a coalition of nations demanded a ceasefire, an Iranian drone attack has struck a major Kuwaiti oil refinery, sending shockwaves through the global economy.
On Friday morning, the Mina Al-Ahmadi oil refinery—a vital facility capable of processing 730,000 barrels of oil daily—was targeted for the second time in 48 hours.
As fire crews struggled to contain the resulting blaze, Brent crude oil prices remained volatile, having surged over 47 percent since the Israel-Tehran escalation began on February 28.
🇰🇼🇺🇸 Kuwait Petroleum Corporation reports that the Al Ahmadi refinery at the port was targeted by drone attacks, triggering a fire and forcing the shutdown of a significant portion of the facility. pic.twitter.com/kozjyGcFBL
— The Daily News (@DailyNewsJustIn) March 20, 2026
The conflict has expanded into a dangerous game of financial sabotage and infrastructure targeting.
While Kuwait confirms two waves of drone strikes, sirens were heard across Jerusalem and Tehran as Israeli strikes continued during the Persian New Year.
The Strait of Hormuz, a crucial waterway responsible for a fifth of the world’s oil, remains under a shadow of uncertainty.
With Iran's electricity supply threatened by attacks on the South Pars gas field, and the Revolutionary Guard claiming continued ballistic missile production despite Netanyahu’s claims, the risk of a global energy crisis has never been higher.
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