Iran threatens Gulf energy targets after Pars gas field struck, sending oil prices higher

2026.03.18 17:20 Part of the South Pars gas field facilities are seen near the southern Iranian town of Kangan in January 2014. Photo: AFP Iran’s ⁠huge Pars gas field was hit on Wednesday in the first reported strikes on Iran’s Gulf ⁠energy infrastructure of the US-Israeli war, prompting Tehran to announce it would respond with attacks on oil and gas targets throughout the Gulf. Oil prices shot up after the attack, a major escalation in a war that has already halted shipping from the world’s most important energy-producing region and could now bring lasting damage to its infrastructure. Benchmark Brent crude prices rose around 5 per cent to above US$108. Stock markets veered lower. Pars is the Iranian sector of the world’s largest natural gas deposit, which Iran shares with Qatar across the Gulf. Iran’s Fars news agency reported that gas tanks and parts of a refinery had been hit, workers had been evacuated ‌to a safe location and emergency crews were trying to put out a fire. State media later said the fire was under control. The attack was widely reported in Israeli media to have been carried out by Israel with US consent, though neither country acknowledged immediate responsibility. The Israeli military did not respond to requests for comment. Qatar, a close US ally which hosts the largest US airbase in the region, blamed the attack on Israel without mentioning any US role. The Qatari foreign ministry spokesman called it a “dangerous and irresponsible” escalation that put global energy security at risk. The UAE also denounced the attack. Iran listed an array of prominent regional oil and gas targets belonging to Saudi Arabia, the UAE and Qatar, which it said were now “direct and legitimate targets” and should be evacuated at once before it struck them in the coming hours. during nearly three weeks of war, the US and Israel had held back from targeting Iran’s energy ⁠production facilities in the Gulf, averting Iranian retaliation against the oil and gas industries

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