London: Gas prices climbed across Europe after an attack on energy infrastructure in Qatar, according to reports.
The development comes amid a wider conflict in the Middle East that has been triggering economic ripple effects globally. The report said Iran has been carrying out strikes on US bases in the region in what it described as retaliation.
On Thursday, Iran allegedly carried out a drone attack on what was described as the world’s largest LPG plant in Qatar. The report also said Iran used drones to target Saudi Arabia’s Aramco, and later struck a refinery in Qatar, drawing strong condemnation from Gulf countries.
Following the incident, UK gas prices were reported to have surged 23% to 171 pounds, with prices rising across the broader European market as well. The report said prices are now about double the level seen before the conflict began.
Separately, Iran warned that if its oil resources are attacked, it would retaliate by targeting oil infrastructure in countries allied with the United States.
