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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, prompting retaliatory Iranian attacks on energy facilities in Qatar and Saudi Arabia, including Qatar's Ras Laffan LNG export plant. The escalating conflict has caused oil and gas prices to surge while stock markets decline. President Trump has threatened further action while also calling for de-escalation.

Why people care

These facilities are critical to global energy supply - South Pars is a major Already On the Water, Bessent Says">Iranian gasfield while Ras Laffan houses the world's largest LNG export plant. Attacks on energy infrastructure directly impact global oil and gas markets, affecting prices worldwide and threatening supply chains.

The takes

Regional analysts say

The targeting of energy infrastructure represents a dangerous escalation that threatens global energy security. Iran's retaliatory strikes on Gulf state facilities show the conflict is expanding beyond bilateral tensions. The attacks risk destabilizing the entire regional energy sector that supplies much of the world's oil and gas.

Security experts say

Both sides are using energy infrastructure as strategic leverage, knowing attacks on these facilities create immediate economic pressure. The strikes may be calculated moves to force international intervention rather than attempts to cause maximum destruction. Energy facilities have become proxy battlegrounds for broader geopolitical tensions.

Sources

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