LNG hub strike sparks sharp global gas-price spike
TL;DR Summary
Wholesale gas prices jumped about 25% in UK and European markets after strikes hit Iran’s South Pars field and Qatar’s Ras Laffan LNG hub, fueling fears of prolonged LNG supply disruption. Brent crude briefly rose near $119 a barrel as markets priced in tighter energy supply, with European gas trading at multi‑year highs. Iran warned of retaliation, Qatar had halted production earlier, and analysts say disruption could last months, though not at the peaks seen in past energy crises.
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