Gas prices jumped by more than 25% in early trading on Thursday, before falling back slightly. The price of gas in Europe is more than double what it was before the war between Iran, and the US and Israel started, says our business correspondent.

It comes after Iran struck the Ras Laffan gas plant in Qatar, causing "extensive damage". Iran's strike was in response to Israel hitting its South Pars gas field, located offshore in the Gulf, between Iran and Qatar.

The UAE's Habshan gas facility and Bab field have also been forced to shut down following retaliatory Iranian strikes, while Saudi Arabia reported thwarting attacks in the east of the country and in the capital, Riyadh.

Donald Trump has said the US did not know about Israel's attack on South Pars before it took place. He also warned Iran against further attacks on Qatar.

Strikes have continued, with the Israeli military earlier saying it detected fire from Iran. No further casualties have been reported by emergency services at this stage. It comes after the Israeli military said on Wednesday that it had started air strikes on targets in northern Iran for the first time.

And in Iran, a representative in parliament has reportedly said lawmakers are looking at charging a toll on countries moving goods through the Strait of Hormuz. Around 20% of global energy supplies move through the channel, but traffic has come to a standstill after Iran threatened to "set fire" to ships passing through.

(Source: BBC)