Energy Security Sentinel
The latest edition of the Platts Energy Security Sentinel is dominated by the Middle East war that broke out in February 2026. Other factors, including Russia’s invasion of Ukraine, cyberattacks and sanctions policy continue to threaten global energy security.
Global overview
Conflicts in the Middle East and Europe have increased energy security risks and had a radical impact on commodities markets in 2026, the latest update of the Energy Security Sentinel from S&P Global Energy shows.
US and Israeli attacks on Iran in February have resulted in major production and supply disruptions across the Middle East. Severe restrictions in shipping via the Strait of Hormuz have added to supply concerns and caused price volatility.
Platts assessed Dated Brent at a wartime high of $144.42/b on April 7, with attacks, threats and negotiations driving major price swings since the war began.
Russia’s invasion of Ukraine also continued to rattle markets in the first half of 2026. Ukraine has repeatedly targeted Russian oil infrastructure and Moscow has responded with waves of attacks on gas and power facilities in Ukraine.
Elsewhere, the US removal of Venezuelan President Nicolás Maduro in January has led to an increase in crude output, but the effects of years of sanctions, underinvestment and technical problems continue to restrain the recovery.
Oil Supply Shocks
Geopolitics, war and weather have caused several major oil supply shocks since 2000. The 2026 Middle East conflict has had the biggest impact, with attacks on production and supply infrastructure as well as severe restrictions on shipping via the Strait of Hormuz taking over 15 million b/d of production offline.
Supply shocks linked to conflict have had the biggest impact on oil prices, with the 2026 Middle East conflict and Russia’s invasion of Ukraine in 2022 both driving Platts’ Dated Brent assessments above $140/b.
Cybersecurity Attacks
Growing cyberthreat
Cyberthreats to the commodity industry have intensified over the past decade, with hackers seeking to steal sensitive data and disrupt the flow of critical resources.
Platts, part of S&P Global Energy, has tracked at least 128 incidents since the start of 2017, with 20 attacks in 2025 and 23 in 2024.
In the first eight months of 2026, nine cyberattacks targeted the commodity sector, with the bulk of them affecting the oil industry. State-run oil and gas firms have become increasingly vulnerable in recent years, as sophisticated threat actors exploit weaknesses in legacy infrastructure.
The power industry has borne the brunt of cyberattacks in recent years, with utilities and energy companies squarely in the crosshairs. A notable incident occurred in December 2025, when coordinated attacks struck several wind and solar facilities, as well as two combined heat and power plants in Poland, disrupting the country's energy grid.
Cyberattacks have emerged as a critical threat to commodity supply chains, prompting companies and countries to elevate cybersecurity as a strategic priority.
In April 2026, the European Commission adopted guidance blocking EU funding for solar and battery storage projects using inverters or power conversion systems from high-risk countries over cybersecurity and grid resilience concerns.
60%
More than 60% of the attacks have been on industries connected to oil and power, with gas, shipping and petrochemicals also impacted.
One of the most significant energy sector incidents came in 2022, when hackers targeted loading facilities in Germany, with the attack affecting the loadings of ships and barges across the Amsterdam-Rotterdam-Antwerp region. A total of 17 terminals—11 in Germany and six in ARA—were compromised, temporarily halting operations at Europe's busiest oil trading corridor.
The 2021 ransomware attack on Colonial Pipeline sent shockwaves through US energy markets, forcing the shutdown of infrastructure supplying roughly 45% of fuel to the East Coast. Petroleum product prices spiked as the disruption highlighted the fragility of critical energy infrastructure.
Electronic Interference
Global Navigation Satellite System interference has emerged as a critical challenge for maritime security, particularly affecting energy shipping through strategic waterways. Recent incidents show jamming and spoofing concentrated in conflict zones, including the Red Sea, Persian Gulf and Black Sea.
The interference affects ship operations in multiple ways: navigation systems become unreliable, automated collision avoidance systems fail, and dynamic positioning capabilities for offshore operations degrade. Crews often must revert to visual navigation and paper charts, significantly increasing workload and error potential.
Published on: September 04, 2026
Contributors: Rosemary Griffin, Eklavya Gupte, Max Lin, Charlie Mitchell
Editor: Gary Gentile
Design: Energy Content Design