Oil and natural gas prices jump as strikes on Middle East production facilities escalate
Airfind news item
By Hanna Ziady
Published on March 19, 2026.
Iran has escalated its attacks on energy infrastructure across the Middle East, including one of the world's most important liquefied natural gas facilities in Qatar. The global oil benchmark, Brent crude, rose nearly 8% to $115 a barrel, while WTI, the US benchmark, rose around 1%. In Europe, benchmark natural gas prices surged 24% and have now more than doubled since the war began. Qatar Energy reported that its Ras Laffan LNG hub sustained extensive damage after being attacked by Iranian missiles twice in a 12-hour period. Iran has threatened further attacks, naming Saudi Arabia, Qatar, and the United Arab Emirates as likely targets.
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