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<Commodity>Brent Rises ~4%; Trump Said to Have Supported Israel's Strike on Iran's South Pars Gas Field; Qatar's Gas Facility & Riyadh Attacked
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Military conflict in the Middle East has escalated, as Iran, accusing Israel of attacking its South Pars gas field, launched a retaliatory missile strike on Qatar and Saudi Arabia and reiterated its intention to target oil and gas facilities across the Persian Gulf region, Reuters reported. New York oil futures for April delivery last rose by 3% to USD99.25 per barrel, while Brent oil futures for May delivery last climbed by 3.9% to USD111.36 per barrel. QatarEnergy, a state-owned company in Qatar, disclosed that its Ras Laffan Industrial City was severely damaged by Iranian missiles. South Pars is the Iranian part of the world's largest natural gas field. This field is co-owned by Iran and Qatar. A report from Xinhua News Agency also quoted Saudi Arabia's Ministry of Defense as saying that its air defense forces intercepted eight ballistic missiles launched towards Riyadh. Sources told The Wall Street Journal that US President Donald Trump was pre-informed of Israel's plan to attack Iran's gas field, and that he supported this plan. AASTOCKS Financial News |
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