LIVE UPDATES: Oil Tops $100 As Iran Attacks Offset IEA Stockpile Release

(MENAFN- The Peninsula) The Peninsula Online

Doha, Qatar: Oil soared above $100 and stocks sank Thursday as Iran’s fresh attempts to hit supplies in the Middle East and threats to bring down the global economy overshadowed a record release of strategic crude by the International Energy Agency, reported AFP.

It stated that the IEA said Wednesday that its members had agreed to unlock 400 million barrels of oil from their reserves – their largest release ever.

As Iran steps up attempts to disrupt supplies across the region, two tankers in Iraqi waters were reported struck Thursday. Baghdad had already said it was cutting output because of the crisis, with Kuwait and Saudi Arabia following suit.

Also Thursday, Bahrain reported Iran had carried out an attack on fuel tanks in the country, while Saudi Arabia said it had intercepted drones headed to Shaybah oil field and drones struck fuel tanks at Oman’s Salalah port, where operations were subsequently suspended.

And the UK maritime agency said in an alert Thursday that a container ship near the United Arab Emirates was hit by an “unknown projectile”.

** Stay tuned for more updates**

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** 11:10am Doha Time
‘Govt and people of Sweden stand firmly behind Qatar, other Gulf states’**

Sweden has reaffirmed its strong support for and solidarity with Qatar amid the evolving geopolitical situation in the region, with senior Swedish leaders holding high-level discussions with their Qatari counterparts, and the Swedish Embassy in Doha working around the clock to assist its community and travellers.

In an exclusive interview with The Peninsula on Wednesday, Ambassador of Sweden to Qatar H E Gautam Bhattacharyya said the moment underscores the depth of the bilateral partnership.“Moments like these show the strength of true friendship. Sweden deeply values its close relationship with Qatar, and we stand together in support of the stability, safety and well-being of our communities,” he said. Read more

** 10:59am Doha Time
Explosions heard in downtown Dubai: AFP correspondent**

Explosions were heard in downtown Dubai, one very loud, an AFP correspondent reported on Thursday, as Iran continued its campaign against the Gulf in response to US-Israeli attacks.

The correspondent saw small clouds of smoke rise above a residential neighbourhood.

** 10:30am Doha Time
GCO explains dangers of filming incident sites**

Qatar’s Government Communications Office, GCO, has renewed warnings against filming or approaching sites of security incidents, stressing that such actions is a risk to public safety.

GCO said in a post on X that filming videos during incidents can compromise public safety by revealing security details such as military coordinates, the timing of movements and gatherings, as well as roads, entrances and exits. Read more

** 10:15am Doha Time
Saudi Arabia intercepts drones heading towards Shaybah oilfield**

Saudi Arabia’s Defence Ministry says three drones heading towards its Shaybah oil field have been“intercepted and destroyed”.

This is just the latest drone attack targeting Shaybah that Riyadh claims to have foiled today.

The oilfield has the capacity to produce 1 million barrels of crude a day, according to Saudi Aramco.

** 10:13am Doha Time
Kuwait power lines hit by drone debris after interceptions**

Six electricity transmission lines in Kuwait went out of service after debris from intercepted drones fell on the infrastructure, the country’s Electricity Ministry said.

Despite the incident, authorities said the overall supply of electricity and water across the country remains stable, Al Jazeera reports.

** 10am Doha Time
QSL resumes as title race and top-four battle heat up**

The Qatar Stars League (QSL) resumes today with Round 18 matches after a brief suspension caused by regional tensions, as teams return to action for the decisive phase of the season.

The pause resulted in the postponement of two Round 17 fixtures - Qatar SC vs Al Shamal and Al Arabi vs Al Sailiya - which have now been rescheduled for April 7.

Three matches will be played today with simultaneous kick-offs at 9:30pm, with Ramadan timings remaining unchanged. Read more

** 9:30am Doha Time**
** IN PHOTOS: Massive blaze at fuel tank in Bahrain after Iranian attack**

Sharing photos from fire that broke out in the fuel tanks of one of the facilities in Muharraq Governorate, Bahrain’s Ministry of Interior said that the Civil Defence teams are continuing their efforts to control the fire.

The Ministry in another post told the residents in three parts of Muharraq to “remain in their homes, close windows and ventilation openings as precaution against potential effects of smokes from the fire currently being fought.”

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