global oil prices surge Archives - LN24 https://ln24international.com/tag/global-oil-prices-surge/ A 24 hour news channel Fri, 20 Mar 2026 20:22:24 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://ln24international.com/wp-content/uploads/2021/09/cropped-ln24sa-32x32.png global oil prices surge Archives - LN24 https://ln24international.com/tag/global-oil-prices-surge/ 32 32 Israel, Iran Launch More Attacks as Crisis Deepens and Regional War Fears Grow https://ln24international.com/2026/03/20/israel-iran-launch-more-attacks-as-crisis-deepens-and-regional-war-fears-grow/?utm_source=rss&utm_medium=rss&utm_campaign=israel-iran-launch-more-attacks-as-crisis-deepens-and-regional-war-fears-grow https://ln24international.com/2026/03/20/israel-iran-launch-more-attacks-as-crisis-deepens-and-regional-war-fears-grow/#respond Fri, 20 Mar 2026 20:22:21 +0000 https://ln24international.com/?p=30988 Israel and Iran launched new waves of attacks on Friday, intensifying a rapidly escalating conflict and raising fears of a broader regional war with global consequences.

The latest strikes mark a significant escalation, as both sides continue to target strategic infrastructure and signal no immediate willingness to de-escalate.

New strikes hit Tehran and strategic sites

Israeli forces carried out fresh airstrikes on targets in and around Tehran, with explosions reported across the capital. The attacks are among the most direct in the current conflict and have heightened concern among civilians.

These operations follow earlier Israeli strikes on Iran’s energy infrastructure, including the South Pars gas field, a critical component of the country’s natural gas production.

Iran responded with missile and drone attacks targeting Israeli infrastructure, including energy facilities. Some of the strikes also affected locations beyond Israel, indicating a widening scope of the conflict.

Energy infrastructure becomes a key battleground

A defining feature of the escalation is the targeting of oil and gas facilities, raising alarms in global energy markets.

Israeli attacks have disrupted parts of Iran’s energy production, while Iran has retaliated by striking regional energy assets, causing fires and temporary shutdowns.

As a result, global oil and gas prices have surged, with analysts warning of potential long-term disruptions if the conflict continues.

Rising casualties and regional spillover

The human toll continues to rise as the conflict spreads across multiple fronts. Hundreds of people have reportedly been killed in Iran, Lebanon, and Israel since the escalation began.

In Lebanon, Israeli forces have intensified operations against Hezbollah targets, while missile alerts have been triggered in northern Israel and Jerusalem.

Several Gulf countries have also reported incidents linked to the conflict, including intercepted drones and damage to infrastructure, increasing fears of a wider regional escalation.

International pressure mounts

Global leaders have called for restraint, warning that continued escalation could lead to a larger crisis.

The United States has urged caution, particularly regarding attacks on energy infrastructure, while European leaders and international organizations have called for an immediate ceasefire.

Despite these calls, both sides remain firm. Israeli officials say military operations are necessary for national security, while Iran has warned it will respond strongly to any further attacks.

Risk of wider war

Experts warn the conflict is nearing a critical point, with the potential to expand into a broader regional war.

Key concerns include disruption to global energy supplies and threats to major shipping routes such as the Strait of Hormuz, a vital corridor for oil transport.

Uncertain path forward

With continued exchanges of attacks and limited diplomatic progress, the situation remains highly volatile.

What began as targeted strikes has evolved into a multi-front conflict with serious regional and global implications. As tensions continue to rise, the risk of further escalation remains high.

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Tehran Strikes Qatar Gas Plant After Israel Targets South Pars Field, Fueling Global Energy Crisis https://ln24international.com/2026/03/19/tehran-strikes-qatar-gas-plant-after-israel-targets-south-pars-field-fueling-global-energy-crisis/?utm_source=rss&utm_medium=rss&utm_campaign=tehran-strikes-qatar-gas-plant-after-israel-targets-south-pars-field-fueling-global-energy-crisis https://ln24international.com/2026/03/19/tehran-strikes-qatar-gas-plant-after-israel-targets-south-pars-field-fueling-global-energy-crisis/#respond Thu, 19 Mar 2026 18:23:16 +0000 https://ln24international.com/?p=30942 Iran has launched missile attacks on a major liquefied natural gas (LNG) facility in Qatar in retaliation for an Israeli strike on its South Pars gas field, sharply escalating the region’s war and threatening global energy markets.

The attack on Qatar’s Ras Laffan Industrial City home to one of the world’s largest LNG hubs caused extensive damage and fires, forcing the suspension of production and raising alarms across international markets already reeling from nearly three weeks of conflict.

Chain Reaction After South Pars Strike

The crisis began on March 18 when Israel conducted an airstrike on Iran’s South Pars gas field and nearby Asaluyeh facilities the largest gas reserve shared with Qatar known internationally as the South Pars/North Dome complex. That strike, which Israel says was part of its broader campaign against Iranian infrastructure, shut down significant production and sparked fires.

Iran, enraged by the attack, vowed retaliation against Gulf energy infrastructure. Within hours, its armed forces launched ballistic missiles at energy sites in Qatar, including Ras Laffan, damaging vital LNG processing and export facilities a move Qatar condemned as a “dangerous escalation” and a threat to global energy security.

Damaging Blow to Global Energy Supply

The strike on Ras Laffan a facility responsible for roughly 20% of global LNG supply has already disrupted exports and sent shockwaves through global markets. Brent crude oil prices surged above $112 per barrel following reports of damage, while natural gas benchmarks in Europe and Asia climbed sharply amid fears of supply shortages.

European gas prices rose significantly, reflecting anxiety over reduced shipments from Qatar, one of the world’s top exporters. Traders said the risk premium on energy commodities has jumped as the conflict shows no sign of abating.

Wider Regional Escalation

The strikes have widened violence across the Gulf. Iranian missiles were reportedly intercepted over Saudi Arabia and the United Arab Emirates (UAE), and facilities in both countries faced operational disruptions due to falling debris and precautionary shutdowns.

Saudi Arabia’s foreign minister issued warnings that Iran’s “aggression is not unlimited,” while the UAE described the attacks on its gas fields as a violation of international law and a “dangerous escalation.”

Diplomatic Strains and International Reactions

Qatar expelled several Iranian military and security officials in response to the attack, condemning Tehran’s actions as a flagrant violation of its sovereignty. Regional leaders have called emergency meetings to assess the fallout and coordinate responses, but divisions remain over how to de‑escalate the conflict.

United States President Donald Trump weighed in, seeking to distance Washington from the initial South Pars strike while insisting further attacks on Qatar would trigger a significant U.S. response. Trump stated that Israel would not conduct further attacks on South Pars unless Iran attacks Qatar again, but pledged U.S. support to defend Gulf energy infrastructure.

Risk to Supply Through Critical Routes

The escalation compounds ongoing disruptions to global energy flows. The Strait of Hormuz, through which a significant portion of the world’s oil and gas transits, has seen sporadic closures and increased military activity. Further strikes on energy sites risk pushing global prices higher and adding volatility to oil and gas markets already struggling with geopolitical uncertainty.

Looking Ahead: Market and Security Implications

Analysts warn the conflict could have long‑lasting repercussions far beyond the Gulf. A prolonged shutdown at Qatar’s LNG hubs could tighten global natural gas supplies for months, affecting consumers from Europe to Asia, particularly as winter demand approaches in the Northern Hemisphere. Some importing nations are now reconsidering energy diversification strategies to buffer against further disruptions.

Diplomats from around the world have called for an immediate ceasefire and protection of civilian energy infrastructure, but with military actions intensifying, the path to peace remains elusive.

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Israel Says It Has Plans for at Least Three Weeks of War as Airstrikes Pound Iran https://ln24international.com/2026/03/16/israel-says-it-has-plans-for-at-least-three-weeks-of-war-as-airstrikes-pound-iran/?utm_source=rss&utm_medium=rss&utm_campaign=israel-says-it-has-plans-for-at-least-three-weeks-of-war-as-airstrikes-pound-iran https://ln24international.com/2026/03/16/israel-says-it-has-plans-for-at-least-three-weeks-of-war-as-airstrikes-pound-iran/#respond Mon, 16 Mar 2026 14:26:17 +0000 https://ln24international.com/?p=30812 Israel has announced detailed plans to sustain its military campaign against Iran for at least the next three weeks, as intense airstrikes continue to batter Iranian cities and infrastructure in a conflict that shows no immediate sign of slowing.

The statement comes from senior Israeli military officials, who said that despite striking thousands of targets since the start of the campaign, the armed forces have “thousands more” to hit and are prepared to maintain pressure on Tehran alongside U.S. forces.

Intensified Air Campaign Across Iran

Overnight, Israeli air forces launched fresh strikes across multiple Iranian cities, including Tehran, Shiraz and Tabriz, targeting what military officials described as command and control facilities, air defense batteries and missile production sites. The scale and frequency of these operations underline Israel’s commitment to degrading Iran’s military capability.

Israeli Defense Forces (IDF) spokesperson Brig. Gen. Effie Defrin emphasized that the operation is far from over, saying the military has plans extending through at least the next three weeks, with contingency plans for even longer if necessary.

The U.S. military has also supported many of the operations, though Washington has offered limited public detail on the extent of American involvement, and U.S. officials have been cautious in commenting directly on the duration of military engagements.

Iran and Allies Hit Back

Iranian forces have responded with a flurry of missile and drone attacks, not only aimed at Israeli territory but also directed at allied targets in the region, including U.S. installations and Gulf states’ infrastructure. In recent days, Iranian attacks have struck locations such as Dubai International Airport and ports in neighboring countries, highlighting the conflict’s widening scope.

Tehran has vowed to continue defending itself and denounced Israeli strikes as unlawful and devastating. Iranian government officials have also accused Israel of committing “ecocide” with attacks on civilian infrastructure like fuel depots, a charge that has drawn international condemnation and heightened fears of broader humanitarian impacts.

Global Impact and Geopolitical Ripples

The intensifying conflict has had major repercussions far beyond the battlefield. Global oil markets have been roiled by the uncertainty, with Brent crude prices climbing above $104.50 per barrel amid fears of disruptions to Middle Eastern energy supplies. The nearby Strait of Hormuz through which an estimated 20% of global oil passes was temporarily closed, prompting urgent calls from some world leaders for international efforts to keep the vital shipping lane open.

Meanwhile, U.S. President Donald Trump has been pushing for allied support to secure strategic maritime routes and urging a broader international response. Some key partners, however have been hesitant to commit military assets, leaving Washington and Israel to shoulder most of the immediate operational burden.

Civilian Toll and Humanitarian Concerns

The ongoing aerial bombardment and retaliatory strikes have taken a heavy toll on civilians across multiple countries. Casualty estimates continue to rise as health and aid agencies struggle to reach impacted areas. Infrastructure damage in both urban and rural regions has disrupted essential services, prompting urgent calls for humanitarian access and cease‑fire negotiations.

International figures, including Pope Leo, have condemned the violence and called for an immediate end to hostilities, stressing the immense suffering experienced by civilians and urging diplomatic avenues to be pursued.

What’s Next?

As Israel signals it is prepared to sustain operations for weeks to come, analysts warn that the conflict could enter a protracted phase, with shifting objectives and evolving military priorities on both sides.

The coming weeks are likely to be critical in determining whether diplomatic pressure, battlefield developments or global economic impacts will influence the trajectory of the war or whether the Middle East will face an even wider and more destructive conflagration.

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Iran War Enters Fourth Day in “Smoke and Blood” as Markets Slide https://ln24international.com/2026/03/03/iran-war-enters-fourth-day-in-smoke-and-blood-as-markets-slide/?utm_source=rss&utm_medium=rss&utm_campaign=iran-war-enters-fourth-day-in-smoke-and-blood-as-markets-slide https://ln24international.com/2026/03/03/iran-war-enters-fourth-day-in-smoke-and-blood-as-markets-slide/#respond Tue, 03 Mar 2026 13:50:28 +0000 https://ln24international.com/?p=30411 The war between the United States–Israel coalition and Iran has entered its fourth day, engulfing the Middle East in violence, widespread explosions and triggering sharp declines in global markets.

Explosions have been reported in major cities including Tehran and Beirut, with attacks and counter attacks rippling across the region as the conflict continues to expand. In Lebanon, Iranian backed Hezbollah has been firing rockets and drones toward Israel, prompting heavy Israeli bombardment throughout southern Beirut and along the northern border.

In Iran’s capital, residents reported multiple explosions and heavy blasts early in the conflict, hitting military and infrastructure targets as part of a joint U.S.–Israeli operation.

Widening Conflict and Regional Fallout

The crisis has drawn in multiple actors and fronts:

  • Gulf states have experienced Iranian missile and drone activity, raising fears of wider escalation beyond Iran’s borders.
  • U.S. and allied bases in the region have been targeted or placed on high alert amid retaliatory strikes.
  • Fighting has triggered air raid sirens in Jerusalem and Tel Aviv and forced evacuations and emergency responses at facilities throughout the Middle East.

Markets Reeling from Instability

Global financial markets have reacted violently to the unfolding conflict, with energy prices spiking and stocks tumbling. Brent crude oil saw sharp rises due to fears of supply disruptions especially around the strategically vital Strait of Hormuz, through which a significant portion of the world’s crude typically passes.

Major indices have slumped in key markets, including Asia and Europe, as investors price in heightened geopolitical risk and potential economic fallout from prolonged instability.

Economists warn that sustained conflict could push oil prices even higher, potentially above $100 a barrel, and stoke inflationary pressures worldwide affecting everything from transportation costs to consumer fuel prices.

Civilian Impact and Diplomatic Pressure

Civilians on all sides are bearing the brunt of the violence, with significant casualties, displacement and infrastructure damage reported. International leaders and organisations, including the United Nations, are calling for immediate de-escalation and a return to diplomacy amid escalating humanitarian concerns.

As the conflict enters its fourth day, uncertainty remains over how long the war will continue and whether diplomatic channels can emerge from the current spiral of retaliation and military action.

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