KATHMANDU: Ongoing fierce military clashes in the Middle East have triggered a sharp rise in global energy prices on Monday.

Heightened tensions in this oil-producing region have raised fears of major disruptions to the global supply chain, pushing fuel costs higher.

The international benchmark, Brent crude, climbed 1.9% to $79.25 per barrel, while U.S. crude rose nearly 1.5%.

The price surge follows weekend military actions by the United States and Israel targeting Iran, fueling worldwide concerns over petroleum supply.

Natural gas prices also spiked, after one of the world’s largest exporters, Qatar Energy, halted production at its facilities citing “military attacks,” causing immediate supply shortages.

With Qatar suspending output for security reasons, Europe and Asia are experiencing significant upward pressure on gas prices.

Analysts warn that continued instability in the Middle East could push the global economy further into inflationary pressures.