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Iran War: Oil and gas prices surge after Israel strikes world’s biggest gas field | BBC News

2026-03-18 News & Politics
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Description

Oil prices leapt to nearly $110 a barrel after Iran reported an airstrike on the world's largest natural gas field and threatened reprisals across the Gulf region. Iran's said a fire at the South Pars petrochemical complex was under control but warned it would take "decisive action" in response to the strike on its energy infrastructure. Later, Qatar accused Iran of causing “extensive damage" at its state owned petroleum company facilities at Ras Laffan. In Iran’s capital, large crowds have turned out for the funeral of Ali Larijani, the top security official said to have been running the country during the war. Iran has fired more missiles into Israel and Police in the UK have charged two men under the National Security Act after an investigation into alleged reconnaissance of Jewish targets on behalf of Iran. Nematollah Shahsavani, 40, and Alireza Farasati, 22, were arrested earlier this month on suspicion of assisting a foreign intelligence service. Counter Terrorism Policing had been investigating alleged surveillance of locations and individuals linked to London's Jewish community. Israeli has continued its assault in southern Lebanon in an escalating campaign against the Hezbollah militant group, linked to Iran. Clive Myrie presents BBC News at Ten reporting by Dharshini David, Lyse Doucet, Daniel Sandford and Wyre Davies. Subscribe to our channel here: https://bbc.in/bbcnews For the latest news download the BBC News app or visit BBC.com/news #BBCNews

Top Comments (10)

@Dwight-schrutee 2026-03-18

Meanwhile I’m drinking out of a paper straw and recycling

1.4k 55 replies
@Arational 2026-03-18

Stupid war started by evil leaders.

1.4k 90 replies
@Bham67 2026-03-18

I guess Israel doesn't even care to consider the environmental impact, pollution, etc.

756 75 replies
@travispardy8649 2026-03-18

I'm tired, boss

689 31 replies
@richardmarsden5610 2026-03-18

Trump should liberate America and invade Israel and regime change it.

389 35 replies
@interactive1178 2026-03-19

Iran is not Venezuela.

234 13 replies
@Boomboom-ox9hn 2026-03-19

We are heading to a Mad Max apocalypse 😂

139 7 replies
@CamZulu 2026-03-19

In my book everyone who throws the first stone is always the bad guy.

80 4 replies
@MandoGaytan-hr5od 2026-03-19

Usually when prices go up they never come back down just saying

67 3 replies
@Paul-w3r3f 2026-03-19

All those burning tankers and refineries and here in Britain I can't use my wood stove!

26 3 replies

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