Benchmark Brent oil ​prices jumped above $119 a barrel on Thursday, March 19 after Iran attacked energy facilities across ‌the Middle East.

Brent crude (CO1:COM) could surge past $130 per barrel if the Strait of Hormuz remains closed for another two to four weeks, according to Matt Smith, Kpler’s lead oil analyst. Smith warned in an interview with CNBC that markets are not fully accounting for the severity of the ongoing supply disruption,

By Georgina McCartney and Siddharth Cavale HOUSTON/New York, March 18 (Reuters) - The discount for U.S. crude futures versus Brent on Wednesday hit the widest in 11 years, as attacks on Middle Eastern oil infrastructure drove the global benchmark higher while rising supply in the U.

The Brent-WTI crude oil spread has widened to an 11-year high of roughly $18 per barrel as Middle East supply disruptions expose a deepening split between global and U.S. crude markets.

Oil prices jumped as markets react to escalating tensions after Qatar said Iranian missile strikes damaged a key liquefied natural gas export facility.

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Brent crude oil futures rose nearly 9% this week, posting their highest settlement in nearly four years, while U.S. crude finished the week with a small loss, as Iraq declared force majeure on its oilfields developed by foreign oil firms and the U.