Iran-US war latest: Oil prices surge after Trump threatens to ‘massively blow up’ huge Iranian gas field

Oil prices surged to $114 (£86) on Thursday morning as Donald Trump warned the US will “massively blow up” a key Iranian natural gas field if Tehran continues to attack “very innocent” Qatar.

Brent Crude Oil prices have soared more than 13 per cent in a week after Iran struck energy facilities in neighbouring Gulf countries in retaliation against an Israeli attack on its South Pars gas field.

In a furious Truth Social post, Mr Trump warned that any further attacks on Qatar’s Ras Laffan gas fields would draw a retaliation against the South Pars Gas Field “at an amount of strength and power that Iran has never seen or witnessed before”.

Ras Laffan was hit for a second time on Thursday morning shortly before Mr Trump’s warning. On Wednesday, Iran fired five ballistic missiles at Qatar – four were intercepted, but the fifth struck the facility, causing a fire.

Brent is now the highest price its been since 2022, when oil prices surged shortly after the war in Ukraine began.

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