Gas prices surged on Monday and oil rose sharply as an escalation in the US-Israel war on Iran caused major disruption to production and supplies.

QatarEnergy, the state-owned energy company, said it had halted production of liquefied natural gas (LNG) after attacks on facilities in Ras Laffan and Mesaieed.

A drone attacked its energy facility in Ras Laffan, according to a statement from Qatar’s defence ministry. There were no reports of human casualties, it said.

The company, which is one of the biggest producers of LNG in the world, said in a statement on social media that it “values its relationships with all of its stakeholders and will continue to communicate the latest available information”.

The Dutch day-ahead gas contract –…