US EditionIsrael says it will hold off striking key Iranian natural gas field as war rattles energy markets
Israel halted strikes on Iran's South Pars gas field after Tehran's retaliatory attacks on Gulf energy sites raised oil prices over 60%, risking wider regional conflict.
- Following intensified Gulf attacks Thursday, Israeli Prime Minister Benjamin Netanyahu announced Israel would pause strikes on the offshore gas field at President Donald Trump’s request.
- Amid strikes across the Gulf, Iran intensified attacks on Gulf oil and natural gas facilities Thursday, raising regional and economic stakes since Feb. 28, according to Iranian state media.
- Markets reacted sharply, with Brent crude briefly topping $119 a barrel, while the European natural gas benchmark roughly doubled in the past month, and Qatar reported damage to Ras Laffan LNG reducing exports by about 17.
- The U.N. Security Council held an urgent Thursday meeting as Israel sought shelters amid Iranian missile barrages, and Israeli Energy Minister Eli Cohen announced Israel would pause attacks at Trump's request.
- With some 80% of Iran's power from natural gas, the attacks threaten Iran's electricity grid, while Gen. Dan Caine said U.S. forces continue deeper strikes including 5,000-pound bombs Thursday.
50 Articles
50 Articles
'There's a lot of ways that this could escalate and get worse': Iran war rattles energy markets
Dan Marks, a research fellow in energy security at the Royal United Services Institute, breaks down the impact of Israel's attack on Iran's massive South Pars natural gas field on global energy markets – and just how both sides could escalate the crisis with further attacks on critical energy infrastructure across the region.
Weekly Must-Read: U.S.-Israel War With Iran Drifts Toward Attrition
Weekly Must-Read: U.S.-Israel War With Iran Drifts Toward Attrition - Tehran selects new leader, disruption of the Strait of Hormuz rattles oil markets, and a conflict expected to end quickly begins to look like a long regional struggle
"The missile and drone attacks, although on the downside, have not ceased and it would be enough for a single drone or missile to achieve its goal for Iran to gain a strategic victory," acknowledges an ISW report. Further information: Netanyahu: "After 20 days of war Iran has no capacity to enrich uranium or build ballistic missiles."
After war rattles worldwide energy markets, Israel says it won’t strike Iranian natural gas field
Dubai, United Arab Emirates — Israel pledged to refrain from more strikes on a key Iranian gas field after Iran intensified attacks on oil and natural gas facilities around the Gulf, raising the stakes in a war that has sent shock waves through energy markets and the global economy.
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