Iran has intensified its attacks on oil and gas facilities around the Persian Gulf, sending shock waves through the global economy.

An Israeli strike on Iranian facilities linked to the South Pars gas field marked a significant escalation in the war, prompting a furious Iran to attack major energy facilities of its Persian Gulf neighbors and Israel.

A ship burned off the coast of the United Arab Emirates and another was damaged off of Qatar, underscoring the ever-present danger facing vessels due to Iran’s stranglehold on the Strait of

The escalating U.S.–Israeli war with Iran and Tehran’s retaliation against Gulf neighbours have severely disrupted Middle Eastern energy infrastructure and global oil and gas flows. Israeli strikes on Iran’s South Pars gas field and the Asaluyeh processing hub on March 18 triggered a wave of retaliatory attacks across the Gulf that hit refineries,

The South Pars gas field, hit by airstrikes on Wednesday, is central to the energy supply of Iran, which was already suffering blackouts before the war.

By targeting energy production, Tehran has added further strain to global supplies already under pressure.

The U.S. Treasury Department has temporarily authorized the purchase of Iranian oil “stranded” at sea, Treasury Secretary Scott Bessent said in part on X Friday, as the Trump administration moved to lighten energy supply pressure that has continued to intensify since U.