Strait of Hormuz closure pushes oil above $80 and gas to a 3-year high as Iran attacks snarl shipping
Brent crude climbed above $80 a barrel for a third day as shipping risks surged in the Strait of Hormuz after attacks on tankers and LNG facilities. UK wholesale gas prices nearly doubled this week, while European gas hit a three-year high. Insurers pulled war-risk cover and freight costs soared as vessels rerouted. QatarEnergy halted LNG production after drone strikes at Ras Laffan and Mesaieed.
