Mideast War Has Energy Prices Soaring

FRANKFURT, Germany (AP) — The war in the Mideast is sending shudders through global energy markets. Oil prices are up more than 6%, and European natural gas futures are spiking more than 40% in the wake of the shutdown of a major supplier of ship-borne gas due to the fighting. The jump came after QatarEnergy said Monday it would stop its production of liquefied natural gas as the Mideast war rages. Europe relies on shipments of liquefied gas, or LNG, to replace supplies of Russian pipeline gas lost due to the invasion of Ukraine. Shipping has been disrupted in the Strait of Hormuz, a key route for oil and LNG tankers coming from the Persian Gulf.