The price of a barrel of North Sea Brent was rising by 5% in Asian trading a little while ago, following news of bombings on energy infrastructure in Iran and Qatar, intensifying concerns over oil and gas supply to the market.
At around 04:15 (GMT), the Brent barrel price was jumping 5.02% to $112.77, its highest level since March 9. That of West Texas Intermediate (WTI), a US benchmark variety, was also rising by 2.67%, at $98.89.
