Oil Prices Surge Past $110 as War Destroys Gulf Energy Infrastructure
Key Points: Brent crude briefly crossed $119 per barrel after new attacks on Middle Eastern energy infrastructure. Israel struck Iran's massive South Pars gas field, sparking immediate retaliation. Iran attacked critical refineries and export terminals in Saudi Arabia, Kuwait, and the UAE. US Treasury Secretary Scott Bessent suggested removing sanctions on 191 million barrels of Iranian crude. Global oil markets are completely panicking. Prices for...