[DOHA] Oil jumped after a reported Israeli attack in Qatar revived fears of a wider conflict in the Middle East and increased the risk premium for crude.
West Texas Intermediate climbed 1.5 per cent to top US$63 a barrel after reports that an explosion heard in Doha was due to a precise strike by the Israel Defence Forces targeting the senior leadership of Hamas, which has been declared a terrorist group by the US and Europe.
Smoke was seen rising over the Katara District in the capital, according to Reuters. The district doesn’t house significant energy infrastructure.
The Israel Defense Forces said in a statement on Tuesday (Sep 9) it had conducted a “precise strike” against leaders of the Iran-backed militant group, many of whom are based in Doha.
Several blasts were heard in the Qatari city, according to media reports, and Qatar said the attack was carried out by Israel, saying it violated international law.
Israel has been fighting Hamas in Gaza since the militant group’s deadly attack on the country in October 2023. Qatar is a key mediator between Israel and the Palestinian group. BLOOMBERG
