Oil prices experienced a sharp increase after Israel conducted a rare strike in Doha, Qatar resulting in the deaths of several Hamas members and a Qatari security officer.

This unprecedented attack on Qatari soil sent shockwaves through energy markets and ignited a diplomatic crisis. West Texas Intermidiate (WTI) crude rose by 1.3% to $63.11, while Brent crude increased by 1.32% to $66.89 as traders assessed the geopolitical implications.

Analysts highlighted that although Qatar exports minimal crude oil, it remains a major natural gas supplier and a key player in the Gulf’s energy landscape.

The strike adds to existing supply pressures from OPEC+ production adjustments and US shale production declines, further contributing to volatility in global oil prices.

Details of the strike

Local authorities reported that the Israeli strike targeted a residential area in Doha, killing five Hamas members along with a Qatari security officer.

The White House confirmed that Israel aimed for Hamas negotiators “unfortunately located in Doha”, but distanced itself from the attack.

US officials indicated that Presidential Donald Trump’s envoy had attempted to inform Qatar prior to the strike, but Qatari officials claimed they only received the warning after the explosions began.

Qatari’s Ministry of Foreign Affairs refuted the notion of prior notice with spokesperson Majed al-Ansari stating that the US call came “during the sound of the explosions”.

Qatar’s Foreign Minister Sheikh Mohammad bin Abdulrahman Al Thani, condemned the strike as “state terrorism” and a violation of Qatari sovereignty noting that the US notification arrived ten minutes after the attack commenced.

Trump’s response and Netanyahu’s accountability

In the aftermath, Trump expressed regret over the incident and assured Qatar that such actions would not happen again. He clarified that the decision for the strike was made exclusively by Israeli Prime Minister Benjamin Netanyahu.

“This was a decision made by Prime Minister Netanyahu; it was not a decision made by me”, Trump stated on Truth Social, emphasising that the warning from his envoy “came too late”.