IRAN intensified its attacks on oil and natural gas facilities around the Gulf today, sending global energy prices soaring as it retaliated to an Israeli attack on the South Pars gas field.

Tehran had warned it would hit energy production regionally if South Pars was attacked. The bombardment further stressed global supplies already under pressure because Iran has blocked the Strait of Hormuz, a strategic waterway through which a fifth of the world’s oil is transported.

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