- Oil prices have surged, with Brent crude rising by 7% to $114 a barrel, due to escalating attacks on energy facilities in the Middle East.
- Qatar reported significant damage and fires at its Ras Laffan liquefied natural gas field following Iranian missile strikes.
- These attacks occurred after earlier reports indicated Israel had launched an assault against Iran’s South Pars gas field.
- Donald Trump claimed he was unaware of Israel's strike but threatened to 'massively blow up' Iran's South Pars gas field if Qatar's facilities were attacked again.
- Analysts warn that the conflict's escalation is 'spooking the market,' transforming the energy crisis from a shipping issue to a supply crisis with potential for long-term price shocks.
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