US EditionOil prices jump following first attacks on Iranian production facilities
Israeli strikes on Iran's South Pars gas field halted gas flows to Iraq and pushed Brent crude oil prices over $110 a barrel, marking the first attack on Iranian energy production.
- 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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318 Articles
Prime Minister Andrej Babiš (ANO) fears that the price of gas will rise significantly as a result of the Israeli attack on the gas field. He described the Israeli attack as incomprehensible. Babiš said this before leaving for the European Council meeting in Brussels.
Middle East war latest: Here's what happened overnight
Here are the latest developments in the Middle East war: Qatar says ‘all fires’ at major gas hub contained Qatari civil defence teams have contained fires that erupted at a major gas facility in the Gulf state’s north following an Iranian attack, the interior ministry said Thursday. “Civil Defence has fully brought all fires under control in the Ras Laffan Industrial Area without any reported injuries. Cooling and sites-securing operations are s…
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