Tom Kloza, senior energy adviser at Gulf Oil, reportedly warned that markets could enter an “all bets are off” scenario if the conflict spread beyond the Gulf to energy infrastructure in Europe or the U.S.

Energy Minister Stavros Papastavrou warns the Middle East war is already pushing up fuel prices in Greece, says intervention could come if oil hits $100 a barrel and notes the country holds more than 90 days of reserves.

Qatar's energy minister told the Financial Times in an exclusive interview that a continued Middle East war could send oil to $150 a barrel and force every Gulf energy exporter to halt shipments within days.

Drone strikes and escalating military exchanges have forced precautionary shutdowns of major oil and gas facilities in Qatar, Saudi Arabia, Iraq and Israel, disrupting exports and jolting global markets.

The oil pipeline, which stopped operation in 2013, has a total length of approximately 213 kilometers, of which 70 kilometers run through Greek territory before continuing north to Skopje