London —
Oil and natural gas prices spiked Thursday, as Iran ramped up strikes on energy infrastructure across the Middle East and attacked one of the world’s most important liquefied natural gas (LNG) facilities in Qatar.
Brent crude, the global oil benchmark, extended the previous day’s gains, rising nearly 7% to $114.7 a barrel, having traded even higher earlier in the day. On Wednesday, Brent settled at $107.38 a barrel, its highest closing level since July 2022. WTI, the US benchmark, was 0.3% up Thursday at $95.8 a barrel.
In Europe, benchmark natural gas