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Oil & Gas Surge As Iran, Israel Escalate Energy Attacks | Horizons Middle East & Africa 3/19/2026

What happened

Israel struck Iran's South Pars gasfield while Iran attacked Qatar's Ras Laffan facility, home to the world's largest LNG export plant. The attacks on critical energy infrastructure have caused oil and gas prices to surge while stock markets across Asia have plummeted. Qatar reports extensive damage to its facilities, raising concerns about global energy supply disruptions.

Why people care

These facilities are cornerstones of global energy supply - South Pars is Iran's largest gasfield while Ras Laffan houses the world's biggest LNG export operation. The coordinated attacks represent a dangerous escalation that directly threatens the energy security of nations worldwide, particularly in Asia where these supplies are crucial.

The takes

Energy markets say

The attacks represent an unprecedented threat to global energy security, with critical infrastructure becoming direct military targets. The extensive damage to Qatar's LNG facilities could create lasting supply disruptions that extend far beyond the immediate conflict zone.

Political observers note

President Trump's calls for de-escalation suggest recognition that energy infrastructure attacks cross dangerous red lines that affect global stability. The targeting of third-party facilities like Qatar's plant indicates how regional conflicts can rapidly spiral into worldwide crises.

Sources