European gas prices surged sharply after Iran launched strikes on key energy facilities in the Gulf. The escalation has raised serious concerns about global energy supplies.
According to reports, European gas prices jumped by 35% on Thursday. The spike followed attacks on Qatar’s major liquefied natural gas infrastructure. Qatar confirmed extensive damage at the Ras Laffan Industrial City. The site hosts the world’s largest LNG facility and plays a central role in global energy markets.
Notably, the complex supplied around 19% of global LNG exports in 2025. Therefore, any disruption at this location immediately affects international supply chains. The strikes came after earlier attacks on Iran’s South Pars gas field. The field is the world’s largest gas reserve and is shared between Iran and Qatar.
As a result, tensions have escalated across the region. Iran also targeted energy facilities in the United Arab Emirates, including the Habshan gas plant and Bab oil field. Meanwhile, markets reacted quickly to the developments. Traders increased prices amid fears of prolonged supply disruption. In addition, investors moved cautiously as uncertainty grew.
At the same time, a group of Arab and Islamic countries strongly condemned the attacks. Foreign ministers from 12 nations held a meeting in Riyadh to discuss the situation. The ministers stated that Iran’s actions cannot be justified under any circumstances. They called for an immediate halt to further attacks.
Furthermore, the countries reaffirmed their right to self-defense under Article 51 of the UN Charter. They also urged respect for national sovereignty and territorial integrity. In addition, officials warned against threats to maritime security. They specifically highlighted the importance of the Strait of Hormuz and Bab al-Mandab route.
These waterways are essential for global trade. Any disruption could further impact energy flows and shipping routes. In Washington, Donald Trump commented on the escalation. He said the United States had no prior knowledge of certain attacks on Iranian facilities.
Moreover, Trump warned that further escalation could trigger stronger responses. He emphasized the need to avoid additional strikes that could destabilize the region further. Analysts expect continued volatility in energy markets. European gas prices may remain elevated if tensions persist.
Ultimately, the crisis highlights the fragility of global energy systems. European gas prices will likely stay sensitive to geopolitical developments in the Gulf.
