&imwidth=800&imheight=600&format=webp&quality=medium "Iran war impact: Brent crude prices surge over USD 100 per barrel")
Iran war has partially pushed the world into an economic crisis. Rising crude oil prices have led to the cost of essential commodities skyrocketing. On Thursday, Brent crude prices surged more than 4 per cent to USD 112.17 per barrel. This comes after Israel struck an Iranian gas field and Iran retaliated by targeting a key fuel hub in Qatar.
On Wednesday night Iran launched retaliatory strikes on Qatar's Ras Laffan Industrial City, one of the world's largest liquefied natural gas (LNG) facilities, after Israeli hit the South Pars gas field.
Extensive damage was caused to Ras Laffan Industrial City in the attack, said Qatar's defence ministry. This was the second attack in the last 12 hours at the facility, raising security concerns around key global energy assets.
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"QatarEnergy confirms that Ras Laffan Industrial City this evening has been the subject of missile attacks. Emergency response teams were deployed immediately to contain the resulting fires, as extensive damage has been caused. All personnel have been accounted for and no casualties have been reported at this time," the company said in a post on X.
No casualties was reported in the incident, though significant damage was done to the facility.
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The incident has raised speculation of further disruption to energy infrastructure in the region, which plays a critical role in global oil and gas supply.
There are also reports of Israeli jets hitting a gas facility in Bushehr in Iran.
