Attacks on oil and gas plants in the Middle East sent markets into turmoil yesterday – and raised fears pump prices in the UK will rise.
israel launched its first strikes on iranian energy sites, triggering threats of retaliation on the Gulf plants Supplies most of the world’s oil and gas.
Iran warned neighboring states to evacuate key installations, sending the price of Brent crude rising to nearly $110 a barrel.
Tensions escalated further when US warplanes bombed Iranian missile silos threatening the vital Strait of Hormuz tanker route.
Global markets were shaken by Israel’s attack on the world’s largest natural gas field, located between Iran and Qatar.
It is believed that it contributes about 70 percent to Iran’s production.
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It was the first attack on energy infrastructure and marks a new phase of the war that threatens to worsen global economic chaos.
Immediately after the attack, which Iran said caused no casualties, the rogue nation warned that energy plants were now “direct and legitimate targets” that would be attacked “in the coming hours.”
Last night the Ras Laffan refinery in Qatar went up in flames after a missile attack.
Iran had earlier issued a notice naming the site along with the Samaref refinery, Al-Jubail Petrochemical Complex and Masa’id Holding Company and the Al-Hosn gas field in Saudi Arabia. united arab emirates.
“All citizens, residents and employees are requested to immediately leave these areas and move to a safe distance,” Iran said.
Neither Israel nor the US have commented on the attack, but Qatar’s Foreign Ministry blamed Israel and described the move as “dangerous and irresponsible”.
Tehran reacted to the attack by cutting off the flow of gas to neighboring Iraq to meet its needs.
Its withdrawal warning sent Europe’s benchmark oil price up 8.2 percent.
The RAC said that if oil market prices remain at current levels, UK petrol could soon reach 150p per liter and diesel 180p per litre. It said the current averages are 142.29p and 162.06p.
The price of heating oil for rural homes has more than doubled during the conflict. Labor has launched a £53 million aid package.
Chancellor Rachel Reeves is under pressure to cancel a planned fuel duty rise. Ministers have indicated their move to reverse the long-standing 5p per liter duty cut remains “under review”.
In a blow to Donald Trump, US stocks also fell as the opening bell rang on Wall Street as markets reacted to the surge in crude oil prices.
US President and Israeli PM Benjamin Netanyahu’s 19-day war of unpopularity has increased in the US, where diesel reached above $5 a gallon.
The US has blasted Iranian cruise missile sites threatening oil tankers and cargo ships in the 22-mile-wide Strait of Hormuz with 5,000-pound bunker buster bombs.
As U.S. Marines closed in on the combat area, they destroyed silos in overnight raids.
Precision-guided heavy bunker busters are usually delivered by B1-B Lancer bombers – believed to have been flown from RAF Fairford, Glucks – or F-15E fighter bombers.
they burrow hundreds of feet Earth and concrete before their weapon detonated.
A spokesman for the US military Central Command said several deep penetration munitions were fired at hardened Iranian missile sites on Iran’s coastline near the Strait of Hormuz.
He added: “Iranian anti-ship cruise missiles at these sites pose a threat to international shipping in the strait.”
More raids are expected before US ground forces arrive in about eight days’ time, as Trump is betting boots On the ground.
The US 31st Marine Expeditionary Unit is expected to launch amphibious and targeted strikes against Iranian targets.
They are fine-tuning plans to launch raids against island-based missile, drone and mine-laying sites in the strait.
The marines could also be involved in a risky operation to seize Iran’s vital Kharg Island terminal in the Strait. It processes 90 percent of the country’s oil exports.
Bombing attacks have already destroyed more than 90 military targets, including naval, mine and missile storage facilities.
Military experts believe more than 2,500 troops will be needed to maintain control of the island after Iran threatened “another Vietnam”.
