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Pakistan's attempts to facilitate peace talks between Iran and the US are encountering substantial obstacles. The intensification of Israeli bombing campaigns on civilian targets in Iran and an expanding US military presence in the Gulf region are casting a shadow over these efforts.Pakistan, maintaining relative neutrality with good relations with both Iran and the US, had hoped to provide a venue for negotiations. However, the conflict is widening, trust is scarce, and the stated positions of Tehran and Washington are far apart. Pakistani officials believe Israel's actions pose a significant risk to any potential talks, particularly given recent attacks on civilian nuclear sites and steel plants.Iran's core concerns include ensuring an end to the war and preventing future attacks by the US and Israel. Former Pakistani ambassador to the US, Maleeha Lodhi, expressed skepticism about US President Donald Trump's reliability, citing his unpredictable nature.Despite these challenges, Pakistan continues its diplomatic efforts. The country's prime minister, Shehbaz Sharif, has been in communication with Iranian President Masoud Pezeshkian, and foreign ministers from Turkey, Egypt, Saudi Arabia, and Pakistan are set to hold talks in Islamabad to discuss ending the conflict.The situation remains complex, with US troop buildup suggesting that peace talks may not align with US plans. Iran has expressed distrust towards previous US interlocutors, but there is consideration for US Vice-President JD Vance to represent the US in talks, an idea supported by Iran.

Qatar's Prime Minister and Foreign Minister, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, held crucial talks with senior US officials in Washington, DC, as tensions escalate in the Gulf region due to the ongoing US-Israeli war on Iran.The meetings, which included US Vice President JD Vance and US Secretary Scott Bessent, focused on strengthening the "close strategic cooperation" between Doha and Washington, particularly in defense partnerships given the current regional challenges.Both sides emphasized the importance of ensuring the sustainability of energy supplies and maintaining the flow of liquefied natural gas from Qatar to global markets, supporting global energy security.Vance praised Qatar's active role in promoting regional stability and enhancing global energy security, highlighting the robust strategic partnership between the two nations.The Gulf region has been under heightened tension since February 28, when the US-Israeli war on Iran began, resulting in over 3,000 deaths across the region, mostly in Iran and Lebanon.Iran has since launched drone and missile attacks on Israel, Jordan, Iraq, and Gulf states, prompting regional leaders to urge Iran to cease these attacks to protect civilians.Earlier this month, Qatar reported that Iranian missile attacks on the Ras Laffan Industrial City, the country's main gas facility, caused "significant damage."The conflict has led to an unprecedented global energy crisis as Iran has effectively closed off the Strait of Hormuz, through which one-fifth of the world's oil passes.On Thursday, Sheikh Mohammed also met with US Secretary of Defense Pete Hegseth in Washington, focusing on developing defense and security collaboration amid regional challenges.The Qatari Cabinet has condemned Iranian attacks on Qatar and its neighbors, calling for an immediate halt to these actions.

Malaysian Prime Minister Anwar Ibrahim revealed in a televised address that Iran's President Masoud Pezeshkian has allowed Malaysian vessels to pass through the Strait of Hormuz with 'early clearance'. This development comes as the global energy market faces significant disruptions due to the ongoing conflict between Iran, the United States, and Israel.Anwar expressed gratitude to Pezeshkian for the clearance, which will enable Malaysian oil tankers and their crews to continue their journey home. While he did not specify the number of vessels cleared or the conditions for safe passage, he emphasized that Malaysia is working to secure the release of its ships and personnel.The Strait of Hormuz is a vital waterway, facilitating about one-fifth of global oil and liquefied natural gas (LNG) supplies. Iran has claimed the right to control the strait and has been responsible for several attacks on commercial vessels in the region. Despite Iran's assertion that the strait is open to non-aligned ships, there have been reports of Iranian authorities demanding tolls of up to $2 million for safe passage.Malaysia, a net energy exporter and one of the world's top LNG suppliers, imports nearly 70% of its crude oil from the Gulf region. Anwar noted that while Malaysia is better positioned than other nations due to its state-run oil and gas company Petronas, the country will still face impacts from the energy supply disruptions. To mitigate these effects, the government plans to implement fuel conservation measures, including reducing subsidized petrol quotas and encouraging civil servants to work from home.Anwar warned that food, fertilizer, and oil prices are likely to rise due to the disruptions. He emphasized that Malaysia is taking steps to address these challenges, adding that some countries are experiencing far worse impacts than Malaysia.

QatarEnergy has invoked force majeure on certain long-term liquefied natural gas (LNG) supply contracts, impacting customers in Italy, Belgium, South Korea, and China. This decision comes as the company faces production and supply disruptions due to the ongoing conflict between the US, Israel, and Iran.The force majeure clause, commonly included in contracts, allows a party to be excused from its obligations under unforeseen circumstances. This is not an isolated incident, as petroleum companies in Kuwait and Bahrain have also recently invoked force majeure.The global energy market has been significantly affected since the US and Israel began their attacks on Iran on February 28. Iranian missile and drone strikes across the Middle East, particularly in the Gulf region, have targeted crucial oil and gas facilities. These actions have led to international condemnation and have essentially closed the Strait of Hormuz, a vital waterway through which approximately one-fifth of the world's oil and LNG supplies pass.QatarEnergy's CEO, Saad al-Kaabi, recently reported that an Iranian attack on Qatar's Ras Laffan gas facility resulted in the loss of about 17 percent of the country's LNG export capacity. This damage is expected to cause an estimated $20 billion in lost annual revenue and threatens supplies to Europe and Asia. The repairs are anticipated to sideline 12.8 million tonnes of LNG production per year for three to five years.The conflict escalated after the Israeli military targeted Iran's offshore South Pars gasfield, prompting Qatar and other Gulf countries to condemn the attacks on energy infrastructure. These actions are viewed as threats to global energy security and violate international law and the United Nations Charter.

The conflict between the United States, Israel, and Iran has taken a significant turn with strikes on a gas field and energy production facilities. These actions are likely to have a ripple effect on the global economy, raising power, food, and other prices worldwide. As gas supplies dwindle and costs escalate, the impact will be felt across the globe.The effects of this conflict will not be limited to the Gulf region; they will echo far beyond, affecting economies and consumers worldwide. The key question is: who will feel the impact the most, and how far could this shock spread?Expert insights from Justin Dargin, an energy expert at the Middle East Council on Global Affairs, provide valuable context to understanding the potential consequences of this escalation.

The global energy crisis caused by the war in Iran and the fallout from the Ukraine conflict is equivalent to the combined force of the twin oil shocks of the 1970s, according to the head of the International Energy Agency (IEA).Fatih Birol, the IEA's executive director, warned that the growing fallout could be seriously compounded by interruptions to the 'vital arteries of the global economy', including petrochemicals, fertilisers, sulphur, and helium.The crisis, which started with bombings against the regime in Tehran on 28 February, already represents the loss of 11m barrels of oil per day and about 140 bcm of gas. This is comparable to the losses seen in the 1973 and 1979 oil crises, which saw a loss of about 5m barrels of oil per day each, and Russia's 2022 invasion of Ukraine, which removed about 75bn cubic metres (bcm) of natural gas from international markets.Birol said that at least 40 energy assets in the Gulf region had been severely or very severely damaged, so even an end to the conflict would not immediately restore energy supply. He also noted that the Asia Pacific region had been badly affected by the closure of the Strait of Hormuz, through which about 20% of the world's oil supply is transported.The IEA has taken emergency measures, including the release of 400m barrels of oil from strategic reserves, the largest emergency measure in its history. Birol said he is consulting world leaders about another possible release of emergency oil supply, noting that the initial move was only 20% of overall stocks.