Energy prices spike as Brent crude, the global oil benchmark, hit $115 a barrel on Thursday morning after Israeli strikes sparked Iranian retaliation on energy infrastructure across the Middle East, including on Qatar’s critical liquefied natural gas hub Ras Laffan.
However, US President Donald Trump threatened to “blow up” the world’s largest gas field, a key Iranian asset, if Tehran keeps up its attacks on Qatar.
He also said the US “knew nothing” about Israel’s plan to strike the South Pars field, but sources have told CNN that the US was aware of it.
Also speaking, Defence Secretary Pete Hegseth said the US is on track for its objectives in the war but did not give a definitive timeline to its end.
Hegseth also addressed reports of a $200 billion funding request, saying “it takes money to kill bad guys.”
Saudi Arabia it “reserved the right to take military action” against Tehran, while Qatar expelled Iran’s military and security attachés.
