Iran War: Gulf Business Tracker and Operations Resumption

The escalating Iran war has disrupted Gulf energy production, aviation, and maritime trade, with attacks on key infrastructure and shipping routes triggering volatility in global energy markets. While some Gulf countries have begun gradually restoring flights, port operations, and logistics activities, regional transport and energy supply chains remain fragile amid ongoing security risks.

The escalating Iran war, involving Israel, and the United States has triggered widespread disruption across the Gulf region, affecting energy production, aviation, shipping, and financial markets. The crisis began on February 28, 2026, when US and Israeli forces launched coordinated strikes on Iranian targets, prompting retaliatory missile and drone attacks by Iran against Gulf states and regional infrastructure.

The resulting escalation has disrupted global energy markets and trade routes. The Strait of Hormuz, a maritime chokepoint through which roughly 20 percent of global oil and significant LNG volumes normally pass, has seen tanker traffic collapse as shipping companies suspend operations due to security risks.

This tracker provides an overview of the conflict’s economic and operational impact across Gulf economies, including developments in energy production, logistics, aviation, and the gradual resumption of commercial activity in the region.

Market and energy impact

Energy markets have reacted sharply to the conflict and the disruption of Gulf shipping routes.

Brent crude surged above US$90 per barrel in early March, reaching its highest level since 2024 amid fears that oil exports from the Gulf could be disrupted.

Analysts warn that oil prices could rise significantly further if the Strait of Hormuz remains inaccessible to commercial shipping. Several Gulf producers have already been forced to reduce production or suspend exports due to storage and logistics constraints.

The crisis has also affected global natural gas markets after Qatar halted production at its LNG facilities following Iranian strikes on energy infrastructure.

Shipping and logistics disruption

Maritime transport across the Gulf has been severely disrupted.

Since March 1–2, commercial shipping companies have suspended transits through the Strait of Hormuz following Iranian threats to attack vessels attempting to pass through the waterway.

By early March, ship-tracking data showed that at least 150 oil and LNG tankers had anchored outside the Gulf, awaiting security guarantees before attempting to enter the strait.

Several vessels have been damaged during the crisis, including oil tankers struck by drones or missiles near the strait and in the Gulf of Oman.

Major container shipping companies—including Maersk, CMA CGM, and Hapag-Lloyd—have suspended operations through the route, forcing cargo to be rerouted around Africa via the Cape of Good Hope, adding up to two weeks to global shipping times.

Aviation disruptions

The aviation sector has also been significantly affected by airspace closures and missile activity across the region.

Following the initial strikes on February 28, several Gulf states temporarily closed their airspace, grounding flights and disrupting international aviation routes across the Middle East.

Airlines worldwide cancelled or rerouted flights to avoid conflict zones, while some governments organized evacuation flights for citizens stranded in the region.

Although some aviation routes have gradually resumed, airlines continue to operate reduced schedules while monitoring security conditions.

Operations resumption: Country-by-country overview

Despite ongoing hostilities, several Gulf countries have begun gradually restoring aviation, logistics, and commercial operations.

UAE

The UAE experienced some of the earliest disruptions following Iranian retaliatory strikes.

By March 3, 2026, Iran had launched 174 ballistic missiles and 689 drones toward the UAE, most of which were intercepted by air defense systems. However, debris from interceptions caused damage to civilian infrastructure in Abu Dhabi and Dubai and triggered several fires.

The attacks forced temporary aviation disruptions and heightened security measures across major transport hubs including Dubai International Airport and Abu Dhabi’s Zayed International Airport.

Limited flight operations resumed on March 2–3, when UAE authorities began authorizing special flights to evacuate stranded passengers and support cargo transport.

By March 5–6, airlines including Emirates and Etihad Airways began restoring limited commercial services, while several international carriers remained cautious about operating flights through Gulf airspace.

Logistics operations at Jebel Ali Port, the region’s largest container port, also resumed partial activity following temporary disruptions caused by falling debris and security alerts during the initial missile attacks.

Qatar

Qatar has faced some of the most significant operational disruptions during the conflict.

Following Iranian strikes on February 28, Qatari authorities temporarily closed national airspace, leading to widespread flight cancellations and disruptions at Hamad International Airport in Doha.

The situation escalated further on March 2, when Iranian drone attacks targeted energy infrastructure at Ras Laffan Industrial City and Mesaieed, prompting QatarEnergy to halt liquefied natural gas production.

QatarEnergy subsequently declared force majeure on several LNG deliveries, warning that restarting liquefaction operations could take several weeks.

Because Qatar supplies a substantial share of global LNG exports, the shutdown triggered sharp increases in global gas prices and raised concerns about energy shortages in Europe and Asia.

Saudi Arabia

Saudi Arabia has maintained relatively stable operations despite attacks on energy infrastructure.

Iranian drones targeted the Ras Tanura oil refinery, one of the world’s largest oil processing facilities, during the first week of the conflict. The attack prompted temporary shutdowns at parts of the facility while damage assessments were conducted.

Saudi Aramco has continued exporting crude oil through alternative routes, including pipelines connecting eastern oil fields to Red Sea ports, reducing reliance on the Strait of Hormuz.

The kingdom has also played a role in facilitating evacuation flights and regional logistics during the crisis.

Oman

Oman has remained one of the least directly affected Gulf states and has emerged as a key regional transit hub.

Airports in Muscat and Salalah have continued operating throughout the crisis, facilitating repatriation flights and providing alternative routing options for airlines avoiding conflict zones.

Omani ports have also remained operational with increased security monitoring maritime activity in nearby Gulf shipping lanes.

Bahrain and Kuwait

Bahrain and Kuwait implemented precautionary security measures following the escalation of the conflict.

Both countries temporarily restricted airspace during the early phase of the crisis and increased security around critical energy and port infrastructure.

Although aviation activity has gradually resumed, airlines continue to monitor missile threats and regional airspace restrictions.Business Risk Assessment

What businesses should watch

Several indicators will determine whether the situation stabilizes or deteriorates further:

• Resumption of tanker traffic through the Strait of Hormuz;
• Restart of LNG production in Qatar;
• Recovery of international airline schedules across Gulf hubs;
• Changes in global oil and gas prices; and
• Restoration of maritime insurance coverage for vessels operating in the Gulf.

If disruptions continue, analysts warn that global supply chains, energy markets, and trade flows could face prolonged volatility.

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