Global oil prices surpassed 110 dollars per barrel as a consequence of attacks on Middle East energy infrastructure amid the military conflict between the US and Israel on one side, and Iran on the other.

Brent crude oil rose to 110.90 dollars per barrel, while US crude reached 99.78 dollars, following reports of Iranian attacks on energy infrastructure in several Persian Gulf countries.

Fires were reported at key energy facilities in Qatar, and airstrikes were intercepted in Saudi Arabia. The attacks came after warnings from the Iranian Revolutionary Guard that it would retaliate for the assassination attempt on National Security Council representative Ali Larijani.

US President Trump claimed on social media that the US knew nothing about the Israeli strike on South Pars, although American media had previously reported that the president had approved the attack.

The White House temporarily suspended the Jones Act, allowing foreign vessels to transport goods between American ports for the next 60 days, in an attempt to mitigate the impact on prices.