Iran’s Revolutionary Guards announced Wednesday they had set their sights on energy hubs across the Gulf region, threatening Saudi Arabia, the UAE, and Qatar with imminent strikes following an Israeli attack on the South Pars gasfield. Specific facilities were named, and workers were ordered to evacuate. The threats pushed oil prices toward $110 a barrel and introduced fresh uncertainty into already strained global energy markets.
South Pars is the world’s largest natural gas reserve and is fundamental to Iran’s economic stability. Its targeting by Israel — apparently with US authorization — broke a key constraint that had limited the scope of the conflict. Both allies had previously maintained that striking Iran’s energy sector would be a step too far, given the potential to destabilize global markets and trigger a full-scale economic war.
Iran’s state media identified Saudi Arabia’s Samref refinery and Jubail petrochemical complex, the UAE’s al-Hosn gasfield, and Qatar’s Mesaieed and Ras Laffan facilities as targets. The warnings were paired with instructions for immediate evacuation. Eskandar Pasalar, governor of Asaluyeh in Iran, said the “pendulum of war” had swung toward a total economic conflict and described the US-Israeli strike as a grave miscalculation.
The international oil benchmark rose nearly 5% to $108.60 a barrel on Wednesday afternoon. European gas markets surged more than 7.5% to over €55.50 per megawatt hour. These movements reflected deep anxiety about the potential for further disruptions to an already battered Gulf energy supply chain. Exports from the region had already fallen 60% from pre-war levels, and Iran’s blockade of the Strait of Hormuz continued to choke global oil flow.
Qatar’s government spokesperson warned that targeting energy infrastructure constituted a “threat to global energy security” and called on all parties to exercise restraint. The situation was unlike any the Gulf had faced since the tanker wars of the 1980s. With Iran’s threats specific, public, and time-bound, the coming hours were expected to deliver either a devastating escalation or a tense and fragile de-escalation.
