Natural gas prices soar as Iran, Israel strike Middle East energy infrastructure

Natural gas prices in Europe surged as much as 35% on Thursday as Iranian and Israeli strikes targeted some of the Middle East’s most important gas infrastructure, doing damage that will likely take years to repair.

The strikes on energy facilities since the onset of the U.S. and Israeli war on Iran have brought to life some of the energy industry’s worst fears – that a conflict in the region will leave long-term damage and shortages in global energy supplies.