Oil and gas prices jump after Iran and Israel attack gasfields

State-run QatarEnergy says Iranian attack on its facilities has wiped out 17% of its LNG capacity for up to five years

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Gas prices jumped to four-year highs and oil prices rose again after an escalation of attacks by Israel and Iran on gasfields heightened fears of prolonged disruption to international energy supplies.

On Thursday, QatarEnergy told Reuters Iran had damaged facilities that produced 17% of the state-owned company’s liquefied natural gas (LNG) export capacity and that it would take three to five years to repair them.