Oil Prices Surge

U.S. and Israeli Attack on the World’s Largest Gas Field Heightens Middle East Instability

The United States and Israel’s strike on Iran’s South Pars field – which holds the world’s largest natural‑gas reserves and borders a Qatar‑operated extraction zone – has pushed Brent crude to $109 a barrel, a 5.5 % rise, and lifted the TTF gas price by 7.6 % to €55.5 per megawatt hour.

“The attack will entail a total economic war,” Tehran declared.

Qatar, which halted oil exports after the February 27 attack, also condemned the strike.

The escalation, driven by Israel and the United States, deepens global economic uncertainty and brings the world ever closer to a conflict of unimaginable scale.