Oil and natural gas prices soar as Iran attacks Gulf energy facilities. Brent crude nears $114 [View all]

Source: Associated Press

BANGKOK (AP) — Global oil and natural gas prices soared Thursday after Iran attacked a key natural gas facility in Qatar that can supply one-fifth of the worlds gas as well as two oil refineries in Kuwait.

The attacks added to fears the energy crisis triggered by the closure of the Strait of Hormuz to tanker traffic may be longer and more extensive than feared, with lasting damage to oil and gas production.

Brent crude, the international benchmark, rose to near $114 per barrel, up from under $73 per barrel on the eve of the war.

The European TTF benchmark for natural gas prices traded 24% higher on Thursday.

Read more: https://apnews.com/article/stocks-markets-oil-iran-trump-1abeddf7c4bf19d1dc96b3f23c1de402