Gasfield

Month-ahead UK wholesale gas price hits highest level since August 2022 as Donald Trump threatens retaliationMiddle East crisis – live updatesBusiness live – latest updatesGas prices jumped and oil prices rose again after an escalation of attacks by Israel and Iran on gasfields heightened fears of prolonged disruption to international energy supplies.Brent crude, the global oil benchmark, rose by 8% to $116 a barrel. Crude prices have soared by nearly 60% since US and Israeli attacks on Iran started the war on 28 February. Continue reading...

US president claims Israel will not attack South Pars again – but threatens to destroy ‘extremely important and valuable’ site if Iran continues to attack gas facilities in QatarMiddle East crisis – live updatesDonald Trump threatened to “massively blow up” the world’s largest gasfield after Israeli strikes on the Iranian site prompted Tehran to step up attacks on energy facilities across the Middle East.Israel’s decision to target the South Pars gasfield on Wednesday marked a major escalation of the war, heightening fears of significant disruption to international energy supplies. Continue reading...

US president says Israel will not launch another attack on the giant gasfield shared by Iran and Qatar, but promises to destroy it if Tehran retaliatesIsrael strikes Iran’s South Pars gasfield hours after forces kill intelligence minister Fighting intensifies between Israel and Hezbollah in southern LebanonWelcome to our continuing live coverage of the US-Israel war on Iran and the broader crisis in the region, and global economy.Donald Trump has threatened to “massively blow up” the entire South Pars gas field if Iran carries out any more retaliatory attacks on Qatar’s LNG gas facilities.The Pentagon “has asked the White House to approve a more than $200bn request to Congress to fund the war in Iran, according to a senior administration official”, the Washington Post reports.The oil price climbed towards $110 a barrel on Wednesday as the mounting threat to the Gulf’s oil and gas infrastructure fuelled concerns of more disruption to global supplies, amid the continuing blockade of the strait of Hormuz.QatarEnergy said “sizeable fires” caused extensive damage at its LNG facilities after Iranian missile attacks in the early hours of Thursday.An attack set a ship ablaze early on Thursday off the UAE coast, authorities said. The United Kingdom Maritime Trade Operations centre said “a vessel has been hit by an unknown projectile, which has resulted in a fire onboard”.French president Emmanuel Macron called for an immediate moratorium on striking civilian infrastructure, and said civilian populations and their needs must be “protected from military escalation”.Three Palestinian women were killed in an Iranian missile attack in the occupied West Bank late on Wednesday, the Palestinian Red Crescent said, in the first deadly Iranian strike there.A man was killed in central Israel in the latest round of Iranian missile fire, medics say. It brings the death roll in Israel from the war to 15.Republicans in the US Senate blocked a measure that aimed to reign in Donald Trump’s power to wage war against Iran without congressional authorisation, winning a 53-47 vote. Continue reading...

Revolutionary Guards say they will strike infrastructure in Saudi Arabia, UAE and Qatar after South Pars field hitMiddle East crisis – live updatesBusiness live – latest updatesIran has threatened to attack energy infrastructure across the Gulf region in retaliation for Israeli strikes on its largest gasfield, the first targeted attacks on its fossil fuel production since the war began.Iran’s Revolutionary Guards have threatened counterstrikes on several energy facilities across Saudi Arabia, the UAE and Qatar “in the coming hours” after state media reports that missiles had targeted its gas facilities at the giant South Pars field, the largest gas reserves in the world. Continue reading...