GLOBAL CRISIS! Oil prices surge, CATASTROPHE looms

GLOBAL CRISIS! Oil prices surge, CATASTROPHE looms Oil prices surged to $112 per barrel following reports of an air strike hitting an Iranian petrochemical complex at the South Pars gas field. This event caused a sharp increase in prices, though they remain below the March peak. The fire at the complex has reportedly been brought under control.

• Oil prices rose to $112 per barrel after reports of an air strike on an Iranian petrochemical complex.
• The incident affected the South Pars gas field, the world’s largest natural gas reserve.
• Qatar also reported significant damage to its industrial site in Ras Laffan after threats from Iran.
• Despite the surge, oil prices are still below the March high of $116.78 per barrel.
• The Iranian Ministry of Petroleum stated that the fire at the complex is under control.