Economy Minister Dr Caoimhe Archibald has reassured households and businesses in Northern Ireland that her department is tracking global oil and gas supply chains after recent attacks in the Middle East escalated.

No disruptions have reached local supply chains at this time. The department maintains close watch as shipping routes and energy markets respond to the tensions.

Dr Archibald stated her department monitors supply chains, collects intelligence, and coordinates with other government partners. Staff track developments each day and collaborate to assess and reduce potential effects on households and businesses.

The minister noted that ongoing volatility could raise energy costs. Wholesale gas prices sit below levels from the early Russia-Ukraine war, but extended instability may push prices higher.

Dr Archibald said such an outcome would require more aid for households and businesses under cost pressures. She has raised this with the British Government and plans to keep doing so.

The minister stressed the need to cut dependence on fossil fuels and international gas by boosting local renewable energy production and improving energy security.

The department will keep working with industry, other departments, and supply chain partners to build readiness and safeguard economic stability.