LNG prices in Europe surged more than 50% after Qatar shut down production at the world’s largest export facility after it was targeted in an Iranian drone attack. The unprecedented halt marks a dramatic escalation of the Iran war that now threatens energy security worldwide. European benchmark gas futures jumped the most in nearly four years, after QatarEnergy confirmed on Monday that output had been suspended. Tankers had already largely stopped transiting the Strait of Hormuz—a critical artery for global fuel shipments.