Meanwhile, Abu Dhabi announced the closure of the Habshan gas field facilities after debris from a missile interception caused damage to the site.
Price difference
US West Texas Intermediate crude rose by about $2.56, or 2.66%, to $98.88 a barrel, after gains of more than $3, while Brent crude climbed by about $11.31, or 10.53%, to continue trading near the $119 a barrel level.
Brent crude closed 3.8% higher yesterday, while West Texas Intermediate (WTI) settled unchanged. WTI is trading at its largest spread over Brent in 11 years due to releases from the U.S. Strategic Petroleum Reserve and higher shipping costs, while recent attacks on Middle Eastern energy facilities have supported Brent.
Second attack
Prices for the Dutch TTF natural gas contract, a benchmark in Europe, rose to 74 euros before falling back slightly.
This comes after Iranian strikes caused extensive damage to Ras Laffan Industrial City, the world's largest gas production and export hub.
Authorities said an Iranian missile struck the facility after four others were intercepted, while Abu Dhabi announced the closure of the Habshan gas field facilities after debris from the missile interception caused damage to the site. Just hours later, a second attack hit Ras Laffan early Thursday morning, followed by a large fire that Qatar said it was working to contain.
Trump warns
Qatar Energy explained that several liquefied natural gas (LNG) facilities within the complex were directly hit, causing large fires and extensive additional damage. The company confirmed that no injuries were sustained by the workers who had been previously evacuated. However, Washington intervened, with US President Donald Trump warning that the United States would retaliate if Qatari gas facilities were attacked again.
