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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe and Graeme Wearden

Oil and gas prices jump after Iran and Israel attack gasfields

Iran Gas Prices Oil Israel Donald Trump United Kingdom Qatar South Pars QatarEnergy Shell
Smoke rises near the Iran’s South Pars gasfield after an attack
Smoke rises near the Iran’s South Pars gasfield after an attack. Photograph: Social Media/Reuters

Gas prices jumped to four-year highs and oil prices rose again after an escalation of attacks by Israel and Iran on gasfields heightened fears of prolonged disruption to international energy supplies.

QatarEnergy told Reuters on Thursday that Iran had damaged facilities that produced 17% of the state-owned company’s liquefied natural gas (LNG) export capacity and that it would take three to five years to repair them.

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