India, March 20 -- Iran has widened the scope of its offensive to target oil and natural gas infrastructure across the Gulf, sharply escalating a conflict that is already rippling through global energy markets.

The impact is already visible in Qatar, a cornerstone of global LNG supply. Missile strikes caused extensive damage to its Ras Laffan LNG facility, cutting exports by around 17% and resulting in estimated annual losses of about $20 billion, with repairs expected to take up to five years, highlighting the potential for long-term disruption to global energy flows.

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US Treasury Secretary Scott Bessent said Washington is considering lifting long-standing sanctions on Iranian oil in an e...