Oil and European natural gas prices surged as Iran pledged to retaliate in response to attacks on the country’s upstream energy assets.
Brent oil climbed as much as 5% to a high of $108.60 a barrel, while Europe’s gas benchmark jumped as much as 7.9%, according to data from ICE Futures Europe.
Iran said that the US and Israel attacked the South Pars gas field and associated facilities at Asaluyeh. It issued a warning about staying away from a range of similar assets in Saudi Arabia, Qatar and the United Arab Emirates.
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