Escalating Middle East tensions sent oil and gas markets into turmoil after Iran allegedly struck a key liquefied natural gas facility in Qatar, pushing Brent crude to $116 and triggering a sharp rise in European natural gas prices.
- Brent crude reached $116 per barrel
- European gas prices surged following the attack
- Iran allegedly launched missile strikes on a key LNG facility in Qatar
- The facility is a major global liquefied natural gas export hub
- CBOE Volatility Index (VIX) rose amid market uncertainty
- Markets reacted with immediate repricing of energy risk
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