Oil and Gas Prices Surge After Iran Attacks Major Qatari Plant
Photographer: Atta Kenare/AFP/Getty Images
Oil and European natural gas prices surged after Iran carried out an attack on a major LNG site in Qatar, after earlier warnings from Tehran on threats to energy facilities across the Gulf.
The most-active contract for West Texas Intermediate advanced as much as 3.3% to $98.60 a barrel in early Asian hours, after Brent oil earlier climbed 3.8% to settle at $107.38. Europe’s gas benchmarkjumped 6% Wednesday, according to data from ICE Futures Europe.