The global energy markets have seen a sudden rise in prices after Brent crude oil prices shot up to almost $110 per barrel after an airstrike on Iran's South Pars petrochemical complex, which is the world's largest gas field. Although the Iranian oil ministry has claimed that the fire in the field is under control, the Iranian military has threatened severe reprisal on the "American-Zionist enemy" and countries that are the source of the attacks. This has caused Qatar to stop production and Iran to stop gas exports to Iraq in favor of meeting internal demands. In a last-ditch effort to reduce pressure on gas prices, the White House has granted a waiver on the Jones Act for 60 days, allowing non-American vessels to transport fuels between U.S. ports, although experts are dubious about reducing prices at the pumps as long as the Strait of Hormuz remains closed.