Oil Prices Surge After Iran Airstrike

0:00On March 18th, here's the latest in global news. Oil prices surge to nearly $110 a barrel after Iranian media reported an airstrike on a key facility at the world's largest. Natural gas field, South Pars, Brent Crude hit $109.91 a barrel just after 2.30 pm. Greenwich mean time, marking in more than 5 percent. Jump from Tuesday. UK gas prices also spiked around 6 percent before easing Iran's oil ministry said a fire at the petrochemical complex was under control by Wednesday afternoon, though damaged details stayed unclear. Meanwhile, the country suspended gas exports to Iraq to protect its own supplies. Iran's military issued a strong warning, promising decisive retaliation against the attackers, and targeting their energy sites in response. Officials stressed they view such strikes on infrastructure as fair game for counterattacks. Qatar, which shares the field and calls it North Dome, call the incident a threat to global energy security.

1:02Prices remain elevated but below peaks from earlier this month, like $116 for oil and over 160 pence for gas. This episode is brought to you in partnership with our sponsor. No need to switch positions. The sound is already where your head is. O-S-O-L-I-SOLY-PELLO.com Made in AI