The Financial Times, quoting the Qatari energy minister, reported that oil prices could rise to $150 a barrel within two to three weeks if the fallout from the current war continues.
The minister warned that war could force Gulf states to halt energy exports within weeks, potentially leading to major disruptions in global energy markets.
He also predicted that natural gas prices would rise to around $40 per million British thermal units amid the current tensions.
He noted that even if the war were to end immediately, Qatar's return to a normal supply cycle could take weeks to months.