Oil jumps above $119 a barrel after Iran attacked energy facilities across Middle East

Core Viewpoint - Benchmark Brent oil prices surged above $119 a barrel following Iran's attacks on energy facilities in the Middle East, marking a significant escalation in the ongoing conflict [1]. Oil Prices - Brent futures increased by $7.39, or 6.9%, reaching $114.77 a barrel, with an earlier peak of $119.13, close to a three-and-a-half-year high [1]. - U.S. West Texas Intermediate crude rose by 27 cents, or 0.3%, to $96.59 a barrel, after previously trading at $100.02, marking the widest discount to Brent in 11 years [2]. Geopolitical Tensions - Israel's attack on Iran's South Pars gas field, part of the world's largest natural gas deposit, has escalated tensions, with the U.S. and Qatar not involved in the conflict [7]. - Iranian missile attacks on Qatar's Ras Laffan, home to the world's largest LNG plants, caused extensive damage, according to QatarEnergy [9]. Regional Security Developments - Saudi Arabia intercepted four ballistic missiles aimed at Riyadh and thwarted a drone attack on a gas facility [12]. - An aerial attack targeted Saudi Aramco's SAMREF refinery, disrupting oil loadings at the Red Sea port of Yanbu, although operations have since resumed [13]. - Kuwait Petroleum Corporation reported a drone attack on its Mina al-Ahmadi refinery, resulting in a limited fire [15].