AssetID: 55524372
Headline: UNCAPTIONED: Oil And Gas Prices Surge After Iran Threatens Gulf Shipping
Caption: Oil And Gas Prices Surge After Iran Threatens Gulf Shipping. Oil and gas prices have climbed sharply after an Iranian official warned ships attempting to pass through the Strait of Hormuz would face a “serious response.” Brent crude rose 3.2% to around $80 a barrel, while gas prices jumped by 30%, as markets continued reacting to US-Israeli strikes on Iran and Tehran’s retaliation. Stock markets across Europe and Asia fell amid concerns about inflation and interest rates. The UK’s FTSE 100 dropped 1.4% at the open, while Germany’s Dax fell 1.7%. The Strait of Hormuz carries roughly 20% of the world’s oil and gas, but shipping has stalled after recent attacks on vessels. Energy giant QatarEnergy halted some production following reported military strikes. Transport costs have also surged, with supertanker rates from the Middle East to China hitting record highs. Analysts say the waterway is effectively closed, partly because insurers are unwilling to cover the growing risks. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Oil,Gas,prices,climbed,sharply,Iranian official,warned,ships,tankers,attempting to pass,Strait of Hormuz,face,serious response,stock markets,Europe,Asia,fell,concerns,inflation,QatarEnergy
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