Oil prices rise after Iran strikes Middle East energy facilities, supply fears grow

Oil prices rise after Iran strikes Middle East energy facilities, raising fresh concerns about global oil supply. The market reacted quickly as tensions in the Gulf region increased.

Brent crude jumped by more than $5 per barrel during early trading. It later settled around $112 per barrel. US West Texas Intermediate (WTI) also moved higher, reaching near $97 per barrel.

The sharp rise came after Iran launched attacks on key energy sites. These strikes followed a reported attack on the South Pars gas field, which is one of the largest in the world.

Experts say oil prices rise after Iran strikes because traders fear supply disruption. Attacks on oil infrastructure often reduce production and increase uncertainty in the market.

QatarEnergy confirmed that missile strikes hit Ras Laffan, a major LNG hub in Qatar. The company reported serious damage to the facility. This added more pressure on global energy supply.

Saudi Arabia also reported intercepting missiles and a drone aimed at its gas facilities. These incidents show how the conflict is spreading across the region.

Iran warned people to evacuate before targeting oil sites in Saudi Arabia, the UAE, and Qatar. The move was described as retaliation for earlier attacks on Iranian energy infrastructure.

US President Donald Trump said Israel carried out the South Pars strike. He added that the United States and Qatar were not involved in that attack.

The US Federal Reserve kept interest rates unchanged but warned of rising inflation risks. Analysts say the ongoing conflict may affect global economic stability.

Market experts believe oil prices rise after Iran strikes will continue if tensions remain high. There is also concern about the Strait of Hormuz, a key route for global oil shipments.

Reports suggest the US is considering sending more troops to the Middle East. The aim could be to secure safe passage for oil tankers and protect supply routes.

For now, the situation remains uncertain. Any further escalation may push oil prices even higher in the coming days.