Dhaka, March 19 -- Iran's huge Pars gas field was hit on Wednesday, a major escalation in the US-Israeli war, prompting Tehran to announce it would respond with attacks on oil and gas targets throughout the Gulf.

Oil prices shot up after the attack in a conflict that has already halted shipping from the world's most important energy-producing region and could now bring lasting damage to its infrastructure. Benchmark Brent crude prices rose around 5 percent to above $108. Stock markets veered lower.

Pars is the Iranian sector of the world's largest natural gas deposit, which Iran shares with Qatar across the Gulf. Iran's Fars news agency reported that gas tanks and parts of a refinery had been hit, workers had been evacuated to a safe lo...