Energy prices soar on escalating Iran tensions, stocks slide.

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A crude oil refinery can be seen on February 27, 2026 near the Port of Corpus Christi, Texas. /CFP

Oil and gas prices surged while global stock markets slid on Monday amid the escalating conflict involving Iran.

European natural gas jumped over 50 percent after Qatar halted LNG production following Iranian attacks.

Crude futures rose nearly nine percent as the Strait of Hormuz faced disruptions, with ships also targeted.

Investors flocked to the dollar and gold, with Wall Street and European markets posting losses.

Source(s): AFP

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