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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

Oil and gas prices rise again after Iran attacks production facilities

Plumes of smoke rise from an oil facility
Plumes of smoke rise from an oil facility in Fujairah, United Arab Emirates, on Saturday. Photograph: Altaf Qadri/AP

Oil and gas prices rose again on Tuesday after Iran carried out attacks on production facilities for the first time since the start of the war with the US and Israel.

Brent crude, the international benchmark oil price, climbed 2.3% to almost $103 (£77) a barrel and was up nearly 50% from levels before the war began on 28 February. Wholesale gas prices rose nearly 3% to €52 (£45) a megawatt hour, compared with about €30 before the war.

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