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Oil Extends Gains to Rise 5.6% After Iran Attacks Gulf Energy Facilities
Iranian retaliatory strikes on Gulf energy hubs raised Brent crude prices over 5%, hitting above $115 a barrel amid regional supply disruption concerns.
- On Thursday, Brent crude climbed above $US115 a barrel in Asia, more than five per cent higher than Tuesday's prices, as Qatar Energy said Iranian missile strikes caused extensive damage at the Ras Laffan LNG hub, Qatar.
- Retaliating for the South Pars attack, Iran issued evacuation warnings and struck regional energy sites; South Pars gas field, shared with Qatar, is the world’s largest natural gas field.
- Saudi Arabia reported intercepting four ballistic missiles over Riyadh on Wednesday and thwarting a drone attack, while Kuwait Petroleum Corporation said a drone hit Mina al-Ahmadi refinery, igniting a limited fire and Saudi Aramco's SAMREF refinery in Yanbu was also targeted on Thursday.
- Priyanka Sachdeva said, 'Escalation in the Middle East, precise attacks on oil infrastructure, and the death of Iranian leadership all point to a prolonged disruption in oil supplies' as the US central bank held rates steady on Wednesday.
- Amid the attacks, US West Texas Intermediate crude traded at its widest discount to Brent in 11 years, while President Donald Trump said Israel carried out the South Pars strike and the US and Qatar were not involved.
22 Articles
22 Articles
The Independent
The Independent (US)Iran oil attacks trigger 35% gas price spike – and fears of interest rate rises
Iran’s attacks on energy facilities across the Gulf threaten to drag war into new phase
Iran Steps Up Attacks on Gulf Oil Facilities, Sending Crude Prices Soaring - The Thinking Conservative News
Iran escalated regional tensions March 19, striking Saudi, Qatari, and Kuwaiti energy facilities—an attack that sent global oil prices sharply higher. The post Iran Steps Up Attacks on Gulf Oil Facilities, Sending Crude Prices Soaring appeared first on The Thinking Conservative News.
Iran Steps Up Attacks on Gulf Oil Facilities, Sending Crude Prices Soaring
Iran intensified attacks on Gulf Arab energy infrastructure on March 19, hitting a Saudi refinery, Qatari liquefied natural gas (LNG) facilities, and two Kuwaiti oil refineries, in an escalation that sent oil prices sharply higher. Benchmark Brent crude rose to more than $119 a barrel at session highs early on March 19—close to the 3 1/2 year peak touched on March 9—while U.S. West Texas Intermediate briefly climbed above $100, as markets reacte…
Brent crude spikes above $116/bbl after attacks on Mideast energy assets multiply
Oil prices saw a sharp rise Thursday. Brent crude reached over $116 a barrel. This followed Iran's attacks on energy facilities across the Middle East. Israel had previously struck Iran's South Pars gas field. These events mark a significant escalation in the ongoing conflict. The U.S. Federal Reserve maintained steady interest rates.
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