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Brent crude prices surged more than 4 per cent on Thursday to USD 112.17 per barrel following escalating tensions in West Asia after Israel struck an Iranian gas field and Iran retaliated by targeting a key fuel hub in Qatar.
Crude oil prices in the international market were trading at USD 112.17 per barrel amid rising concerns over disruptions to global energy supplies. The surge in prices came after a series of attacks targeting critical energy infrastructure in the region. On Wednesday night (local time), Iran launched retaliatory strikes after an Israeli attack targeted the South Pars gas field. In response, Iran struck Qatar's Ras Laffan Industrial City, one of the world's largest liquefied natural gas (LNG) facilities. According to Qatar's Ministry of Defence, Ras Laffan Industrial City was hit by ballistic missiles from Iran, resulting in extensive damage. The attack marks the second such incident in the last 12 hours at the facility, raising concerns over the safety of key global energy assets. In an official statement, QatarEnergy confirmed the attack and said emergency response teams were deployed immediately to manage the situation. "QatarEnergy confirms that Ras Laffan Industrial City this evening has been the subject of missile attacks. Emergency response teams were deployed immediately to contain the resulting fires, as extensive damage has been caused. All personnel have been accounted for and no casualties have been reported at this time," the company said in a post on X. The company added that the strikes caused significant damage to the facility, although all personnel were reported safe with no casualties. The escalation has heightened fears of further disruption to energy infrastructure in the region, which plays a critical role in global oil and gas supply. Israeli fighter jets on Wednesday have struck a gas facility in Bushehr, Iran, according to reports cited by Al Jazeera. (ANI)
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