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Oil prices jumped as markets react to escalating tensions after Qatar said Iranian missile strikes damaged a key liquefied natural gas export facility.
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World leaders are scrambling to contain a spiraling Middle East conflict on Thursday after Israel and Iran traded strikes on gas production facilities.
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Global markets slid after the Federal Reserve held rates steady and warned of persistent inflation, while an Iranian missile strike caused "extensive damage" to Qatar's Ras Laffan LNG hub, heightening fears of a fresh energy shock.
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The strikes on a gas field in Iran and an industrial complex in Qatar appeared to be some of the most significant attacks on energy sites since the U.S.-Israeli air war against Iran began.
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