Energy infrastructure attacks cause oil and gas price surge

A series of attacks on energy facilities in the Middle East has disrupted supplies and caused prices to rise sharply. The UAE suspended operations at its Shah gas field after an Iranian drone attack, and a key oil loading port in Ras Tanura was also hit before resuming operations.

These disruptions contributed to a significant jump in European gas prices, with one report suggesting a 20% weekly increase linked to an outage at a major Qatari LNG facility. Separately, the Norwegian energy company Equinor announced a new oil discovery near a large field in the Arctic.