Energy markets explode: Crude hits $114, gas jumps 35% after Iran targets Gulf fuel sites

2026-03-19 - 10:20

Iran's strikes on Gulf energy infrastructure, including Qatar's LNG facility, have sent global oil and gas prices soaring. The attacks have disrupted supply routes, particularly the Strait of Hormuz, leading to significant price spikes and raising inflation concerns. Financial markets worldwide reacted negatively, with equities declining sharply amid growing uncertainty.