Brent oil hit $114 a barrel in early trading Thursday, and European gas prices surged to their highest level since the war began following the attacks on key energy infrastructure in both Qatar and Iran.
US President Donald Trump earlier on Thursday warned that the US would “blow up” Iran’s South Pars gasfield if Iran carried out further attacks on energy assets in Qatar, as the president sought to prevent a further escalation in strikes.
Qatar said Iran had inflicted “extensive further damage” after missile attacks around the Ras Laffan terminal, the world’s largest liquefied natural gas facility in the early hours of Thursday. This followed an attack on Wednesday as Iran retaliated against an Israeli attack on its South Pars gasfield, the world’s largest.
A fire broke out on a vessel east of the Strait of Hormuz after being hit by an “unknown projectile”, the UK’s maritime agency said.
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