London/New York —
Oil and natural gas prices spiked Wednesday following reports of the first attacks on Iranian production facilities in the war, including the world’s biggest natural gas field. The incidents mark a major escalation in the conflict, which has so far largely spared Iran’s energy infrastructure.
Brent crude, the global oil benchmark, jumped 5% to near $109 a barrel. WTI, the US benchmark, rose 2.5% to $98 a barrel. Benchmark European natural gas prices, for deliveries in April, surged more than 7% at one point.
Iran’s semi-official Fars and Tasnim news agencies