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Kuwait oil refinery hit as Iran says it’s still building missiles

Firefighters battled a blaze at a giant oil refinery in Kuwait on Friday after a fresh drone attack as Iran kept up a wave of strikes on its neighbours and vowed there was “no concern” about its missile production. Despite calls for an end to targeting Gulf energy infrastructure by European leaders on Thursday, Kuwait reported a fire at its Mina Al-Ahmadi refinery, a day after a direct hit on Qatar’s vital Ras Laffan facility. Iranian authorities had vowed to retaliate after an Israeli strike on...

Mar 20, 2026 &03582020202631; 08:58 UTC www.scmp.com Trending 5/5

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Negative for markets

Sentiment score: -45/100

Moderate impact Short-term (days)

WHAT THIS MEANS

Rule-based L2: BEARISH signal from SCMP Business

AI CONFIDENCE

60% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

↓

Oil (WTI Crude)

CL=FCommodity

Expected to decline

Kuwait oil refinery hit as Iran says it’s still building missiles

PRICE HISTORY

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⚡ SUGGESTED ACTION

Automated signal: BEARISH on primary asset

Analysis generated on Mar 21, 2026 at 15:37 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by SCMP Business. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Kuwait oil refinery hit as Iran says it’s still building missiles

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