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Oil prices jump following first attacks on Iranian production facilities
Oil prices surged over 6%, hitting near $110 a barrel after US-Israeli strikes on Iran's South Pars gas field, the world's largest natural gas reservoir.
- On Wednesday, U.S. and Israeli forces struck Iran's South Pars offshore gas field and the Asaluyeh processing complex, causing significant fires in the first reported attack on Iranian production facilities during the war.
- Israel and the U.S. previously avoided targeting Iran's upstream energy production over fears of global economic disruption, but the escalating conflict has now pushed them to strike critical infrastructure.
- Brent crude surged more than 6% to nearly $110 a barrel following the strike, while European natural gas prices jumped nearly 8%, reflecting immediate market fears of supply disruption.
- Iran's Revolutionary Guards retaliated by warning residents at energy facilities in Saudi Arabia, the United Arab Emirates, and Qatar to evacuate, declaring them "direct and legitimate targets" for strikes "in the coming hours."
- Foreign ministers from Arab and Muslim-majority countries are gathering in Riyadh on Wednesday to discuss the crisis as regional instability threatens to further tighten global energy supplies.
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Iran War Enters Nineteenth Day: Israel, U.S. Attack Iran’s South Pars Gas Field
The Iran War entered its nineteenth day on Wednesday with President Trump threatening on Truth Social to “finish off” what he said was “left of the Iranian Terror State.” In the same post, he expressed his frustration with what he called “our non-responsive “Allies,”’ who have so far resisted Trump’s calls to join a coalition to re-open the Strait of Hormuz. Iran’s South Pars gas field, the world’s largest natural gas reserve, was targeted with …
·Washington, United States
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According to media reports, Israel has attacked the Iranian gas industry, which is said to be connected to the world's largest gas field, which has an impact on the energy market - and is causing oil prices to rise.
·Hamburg, Germany
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Coverage Details
Total News Sources217
Leaning Left34Leaning Right38Center70Last UpdatedBias Distribution49% Center
Bias Distribution
- 49% of the sources are Center
49% Center
L 24%
C 49%
R 27%
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