KUALA LUMPUR: Oil prices surged following Israel’s attack on Doha that targeted Hamas leadership in the Qatari capital.
Brent crude rose 0.56% to US$66.39 per barrel while WTI crude gained 0.54% to US$62.97 at the time of reporting.
Rystad Energy head of geopolitical analysis Jorge Leon stated that Israeli actions marked another escalation step in the ongoing Middle East conflict.
“The risk of regional spillover is rising,“ he said in a Tuesday research note.
Leon emphasized that Qatar’s response would significantly influence regional dynamics as both a key US ally and Gulf Cooperation Council member.
He warned that any fallout could intensify tensions across the Gulf region and beyond.
“What was a fragile negotiation track now appears closed,“ Leon added regarding diminished prospects for near-term conflict resolution.
Qatar condemned the strike on residential buildings housing Hamas Political Bureau members as a blatant international law violation.
The Qatari government stated the attack seriously threatened the safety of both citizens and foreign residents. – Bernama
