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The escalation of attacks shook global energy markets.
Oil prices have risen after Israel attacked Doha, Qatar.
WTI crude oil rose 1.37% to $63.11, while Brent gained 1.32% to $66.89.
Israel announced it had struck Hamas officials in Doha, the first Israeli attack carried out on Qatari soil.
Qatar hosts a large US base and maintains open political channels with Hamas. The attack has sparked discussions about broader instability in the Persian Gulf, a region critical to global energy flows.
Traders wasted no time in adding a risk premium. Qatar doesn't ship much crude, but it is a major supplier of natural gas and a key player in the Gulf's energy grid. Any sign of trouble there tends to push up oil prices.
Analysts noted that markets were already facing ongoing uncertainty on the supply side – from OPEC+ production maneuvers to a decline in US shale oil – and the strike in Doha added another layer of volatility.
The episode came at a delicate diplomatic moment. Washington has leaned heavily on Qatar in recent years, relying on Doha as a mediator with Hamas and as a stabilizer in regional conflicts.
An Israeli attack on Qatari soil not only increases security risks but also complicates the diplomatic calculations of the US and Europe at a time when both are considering tightening sanctions on Russia's oil trade.
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