Attacks on Iranian energy facilities push Brent crude above $107

Global oil prices climbed sharply on Wednesday, March 18, after strikes targeting key energy infrastructure in Iran intensified concerns over supply disruptions.

According to Le Figaro, Brent crude — the international benchmark — surged by 4.38% to reach $107.95 per barrel. Meanwhile, US West Texas Intermediate (WTI) rose by 1.87%, trading at $98.01.

Reports from state media indicated that the strikes, carried out by Israel and the United States, hit multiple energy targets, including the South Pars/North Dome gas field — the world’s largest natural gas field, jointly shared by Iran and Qatar.

In response to the attacks, Tehran signalled a potential escalation, announcing plans to target energy infrastructure across the Persian Gulf.

By Tamilla Hasanova