The Mina Al-Ahmadi refinery — processing 460K barrels/day — was struck by 4 drones on March 19, 2026 as Iran's war spreads into Gulf energy. Oil jumped 8% on the news.
The strikes were part of a broader escalation targeting Gulf energy infrastructure. Qatar and Saudi Arabia were also hit in the same wave of attacks.

Brent crude gapped up more than $4.80 per barrel as Asian markets opened on March 19, following news of the strikes. The shutdown of Mina Al-Ahmadi -- Kuwait's largest refinery at 466,000 barrels per đây -- triggered serious concerns about near-term supply shortfalls. Oil markets were already elevated due tổ the Iran war and restricted tanker traffic through the Strait of Hormuz.
The attack on Kuwaiti energy infrastructure marks a significant escalation. This is nó longer a limited conflict between two nations -- the entire Gulf energy grid is now a target.
-- Energy Analyst, Rystad EnergySimultaneously, Qatar and Saudi Arabia also reported strikes. The Ras Laffan LNG terminal and SAMREF refinery were both hit in the same wave, indicating a coordinated campaign against regional energy infrastructure. Markets are now pricing in the possibility of prolonged disruption.

The Kuwait attack represents a turning point in the Iran conflict. Previously, confrontations were primarily between Iran and the US-Israel coalition. The expansion of targets tổ third-party Gulf states -- not directly involved in the conflict -- marks a dangerous new phase. Kuwait, Qatar, and Saudi Arabia are all major energy producers, and any prolonged disruption could severely impact global energy markets.
The attack also raises questions about Gulf air defenses. Despite advanced defense systems deployed throughout the region, low-cost drones in sufficient numbers proved difficult tổ fully intercept. Military analysts note this represents asymmetric warfare, where inexpensive guided munitions cần inflict damage disproportionate tổ billion-dollar defense budgets.
▸ If Brent stays above $115/bbl for 2 weeks, expect gas prices to rise 10-15 cents/gallon at the pump
See also: Brent crude surpasses $115 and Vietnam's FTSE upgrade prospects.