Saudi Aramco Chief Executive Amin Nasser has canceled his appearance at the CERAWeek energy conference in Houston to remain in Saudi Arabia amid the escalating conflict with Iran, according to an industry source. Nasser, typically a headline speaker at one of the energy sector’s largest annual gatherings, will also not provide a recorded message for the event.

The conflict, now in its fourth week, has disrupted global energy markets and led to retaliatory strikes targeting Gulf energy infrastructure, including facilities linked to Saudi Aramco. The Strait of Hormuz, a critical route for roughly one fifth of the world’s oil supply, has been effectively shut, raising fears of further market instability. United States President Donald Trump has threatened to escalate military action if the waterway is not fully reopened.

Saudi Aramco is rerouting millions of barrels of crude per day from its eastern fields to the Red Sea to bypass the strait and has reduced output by about two million barrels per day. Recent missile and drone attacks have also affected loading operations and refining facilities in the region. Other senior Gulf energy executives are scaling back or moving their participation in the Houston conference online as the crisis deepens.