Brent crude surpassed $100 per barrel as geopolitical risk premiums spiked following escalating conflict involving Iran. The International Energy Agency described the situation as the largest supply disruption in the history of the global oil market and authorized IEA member countries to release 400 million barrels from emergency reserves, the largest coordinated stock draw in the agency's history. The US Secretary of Energy separately authorized release of 173 million barrels from the Strategic Petroleum Reserve. Israel's reported strike on Iran's South Pars gas field triggered retaliatory attacks that damaged Kuwaiti refineries and QatarEnergy's Ras Laffan Industrial City, the world's largest LNG complex.