The Globe and Mail reports in its Friday edition that energy prices were whipsawed after Iran intensified attacks Thursday on its Persian Gulf neighbours, targeting infrastructure for oil and liquefied natural gas. The Globe's triple-bylined item, led by David Berman, reports that the fear is that the Middle East conflict will continue to throttle energy exports, stoking fears of rising inflation and deteriorating economic activity. Energy stocks have rallied with surging crude oil prices over the past two weeks. Capital Economics is anticipating a severe but short war that will restrict energy exports through the Strait of Hormuz into the end of April. However, the Britain-based forecaster cautioned that an escalation -- involving significant damage to energy infrastructure -- would continue to rattle expectations. Iran said its assaults were in retaliation for Israel's bombing of the massive South Pars natural gas field a day earlier. Targets of the Islamic Republic's strikes this week have included energy facilities in Saudi Arabia, Kuwait and Qatar. The world's second-largest LNG exporter last year, Qatar halted its production in early March as the Strait of Hormuz was effectively closed to marine traffic.