18.03.202623:21:17UTC+00Oil Climbs Amid Attacks on Energy Assets

WTI crude futures climbed back above $99 per barrel on Thursday, extending their rally as fresh attacks on critical energy infrastructure in the Middle East intensified fears of disruptions to global oil and gas supplies. Iran launched missile strikes on a Qatari facility that houses the world’s largest LNG export plant, one of several energy assets Tehran had vowed to target following an Israeli strike on Iran’s South Pars gas field.

US President Donald Trump said he had been informed in advance of the Israeli attack on the South Pars field but called for restraint and urged against further strikes on Iranian energy installations. In a separate move aimed at easing domestic logistics bottlenecks and lowering transport costs, Trump temporarily waived the Jones Act, allowing foreign‑flagged vessels to move oil, gas, and other commodities between US ports for the next 60 days.

Oil prices have risen roughly 50% since the conflict began, as the Iran crisis has effectively closed the Strait of Hormuz and led major Middle Eastern producers to sharply curtail output.