Daily brief
Oil prices surged to $112 a barrel after Iran expanded its strikes on energy sites in the Gulf, directly impacting global supplies. A UK firm reported its weekly fuel bill increased by £64,000 due to the price rise, which also contributed to mortgage rates climbing to their highest level in over three months.
President Donald Trump threatened to attack Iran's South Pars gas field after Israeli missiles reportedly struck the facility, with Moscow warning the escalation could reach a 'tipping point'.
Iranian lawmakers are considering a proposal to levy transit fees on commercial ships passing through the Strait of Hormuz, a critical global oil shipping lane.
The Pentagon is seeking approximately $200 billion in additional funding from Congress for military operations related to Iran.
Iran reportedly launched a missile attack on Qatar's Ras Laffan LNG complex, the world's largest liquefied natural gas hub, damaging it and cutting Qatar's LNG capacity by 17% for up to five years.