Photo : YONHAP News / AFP
Global oil prices sharply rose after Israel attacked Iran’s major gas field facilities and Iran retaliated by striking energy infrastructures belonging to neighboring countries in the Middle East.
Brent crude, the international standard, for May delivery, ended Wednesday at 107 U.S. dollars and 38 cents per barrel, up three-point-eight percent from the previous session’s closing.
Brent crude topped 111 dollars a barrel at around 4:48 p.m. Eastern Time following news that Iranian strikes caused “extensive damage” to Qatar’s industrial site, and it was the first time in nine days that the price soared above 110 dollars.
West Texas Intermediate for April delivery also gained zero-point-one percent to close at 96 dollars and 32 cents, after reaching 100 dollars and five cents in intraday trading.
Earlier, Israel attacked Iran’s South Pars gas field, part of the world’s largest it shares with Qatar, and its related facilities, the first of such attack on Tehran’s energy production infrastructure.
In a retaliatory move, Iran launched missile attacks on an industrial area housing Qatar’s gas facilities that handles 20 percent of the world’s liquefied natural gas(LNG) supplies.