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Rising oil prices and a refinery shutdown in Bahrain are triggering major disruptions across global energy markets and international financial systems. The Bahrain Petroleum Company (Bapco) has declared force majeure after a strike on its Almir facility, halting operations at one of the region’s key refineries. The shutdown comes amid escalating regional conflict affecting energy infrastructure across the Persian Gulf. With Brent crude reaching $119 per barrel and multiple Gulf energy facilities disrupted, global markets have reacted sharply with significant losses across Asia, Europe, and beyond. In this video we explain: • How Iranian unmanned aerial vehicles struck Bapco’s Almir refinery, triggering a major fire and forcing operations to stop • Why Bahrain Petroleum Company issued a force majeure declaration to contractual partners • The series of energy disruptions across the Gulf, including Qatar Energy halting LNG production and Saudi Arabia’s Ras Tanura refinery shutdown • How Brent crude oil surged to $119 per barrel and global stock markets lost trillions in value • The emergency responses from the Group of Seven, Japan’s strategic reserve release, and warnings from South Korea • The wider economic effects on global supply chains, manufacturing, aviation fuel costs, and international markets The refinery shutdown in Bahrain represents one part of a rapidly expanding crisis affecting global energy supply and economic stability. With the Strait of Hormuz closed to normal traffic and multiple Gulf production facilities offline, analysts warn that petroleum prices and supply pressures could continue escalating in the days ahead. Watch the full video to understand the sequence of events and the wider developments in this story. Stay informed with verified updates.