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Oil prices hit nearly $110 as Iran vows to escalate the war in ‘new ways’
Yahoo Finance· 2026-03-18 15:27
Brent crude spiked more than 5% to almost $110 a barrel on Wednesday after Israel struck the world’s largest natural gas reserve in a coordinated operation with the United States. The attack marks the first time Iran’s upstream oil and gas infrastructure, as opposed to those in the gulf, has been targeted since the war began on Feb. 28.Iran shares its massive South Pars gas field with Qatar, which uses its side to supply roughly a fifth of the world’s LNG. Qatar’s foreign ministry condemned the strikes as ...