Energy infrastructure emerges as war target, lifting pricesQatar's state-run energy firm said it had halted liquefied natural gas production following Iranian attacks on facilities at two of its main gas processing basesWASHINGTON (UNITED STATES) - Energy prices surged Monday as the war in the Middle East led to outages of key energy production operations and a critical waterway was essentially emptied of traffic. European natural gas prices finished the day up more than 39 percent after surging more than 50 percent earlier in the day. Qatar's state-run energy firm said it had halted liquefied natural gas production following Iranian attacks on facilities at two of its main gas processing bases. The last time oil prices topped $100 a barrel was at the start of the Ukraine war, when natural gas prices also spiked well above Monday's level. Oxford expects oil prices to rise to almost $80 a barrel in the second quarter before eventually dropping back to $60.

Source: Bangkok Post March 03, 2026 04:02 UTC