Iran strikes Qatari LNG complex, pushing oil above $110

Israel struck Iran’s South Pars gas field, an offshore facility shared with Qatar, and Iran retaliated by attacking the Ras Laffan industrial complex in Qatar, escalating fears of energy supply disruptions.

Markets reacted sharply: Brent climbed past $110 a barrel, West Texas Intermediate rose as much as 3.3% to $98.60 a barrel in early Asian trading, and Europe’s benchmark gas prices jumped about 6% on ICE Futures Europe.

Qatar’s Interior Ministry said Civil Defense crews were tackling a fire at Ras Laffan “following an Iranian targeting,” and the country’s Foreign Ministry called the strike “a dangerous escalation, a flagrant violation of state sovereignty, and a direct threat to its national security and regional stability.”

Tehran had previously warned it might target Gulf energy infrastructure, a prospect that has rattled markets already sensitive to geopolitical risk. The White House did not immediately respond to a request for comment.

Qatar, Ras Laffan

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