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Energy Markets Rattle As Iran Attacks Gulf Oil Infrastructure

Iran launched a major assault on oil and gas facilities in the Persian Gulf on Wednesday, just hours after an Israeli airstrike struck its South Pars gas field complex — the largest of its kind in the world.

Qatar’s state-owned energy company, QatarEnergy, reported “extensive damage” at Ras Laffan Industrial City after Iranian missiles struck the facility.

“Emergency response teams were deployed immediately to contain the resulting fires,” the world’s second-largest liquefied natural gas exporter said in a statement. ⁠

Saudi Arabia’s Defense Ministry said its air defenses intercepted at least four ballistic missiles over Riyadh and destroyed two Iranian drones before they could reach a gas facility in the kingdom’s eastern province.

Officials added that falling debris from the interceptions injured at least four people.

Qatar’s Ministry of Foreign Affairs condemned the strikes as “a dangerous escalation” in the Middle East, accusing Iran of targeting U.S. allies in its retaliatory campaign.

“The Iranian side continues its escalatory policies that are pushing the region toward the brink and drawing countries not party to this crisis into the conflict zone,” the ministry warned.

“The ministry also reiterates that the State of Qatar reserves its right to respond in accordance with Article (51) of the United Nations Charter and the right to self-defense as guaranteed by international law,” officials said.

“It stressed that it will not hesitate to take all necessary measures to protect its sovereignty, security, and the safety of its citizens and residents,” they added.

In the United Arab Emirates, authorities reportedly suspended operations at two natural gas sites in Abu Dhabi — the Habshan gas facilities and the Bab field — after Iranian strikes were intercepted.

The suspension was attributed to falling debris, although no injuries were reported.

Earlier on Wednesday, Iran had issued warnings urging civilians in Qatar and Saudi Arabia to evacuate energy facilities following the attack on its South Pars gas field, which is jointly operated with Qatar.

The strike damaged Iran’s Asaluyeh refinery, forcing a halt in production at two processing units that typically produce around 100 million cubic meters of gas per day, according to state media.

The developments mark the first major wave of attacks targeting energy infrastructure across the Middle East, raising concerns over potential disruptions to global supply.

Brent crude futures surged to nearly $111 per barrel following the strikes, after opening at approximately $101 earlier in the day.

European natural gas prices have also risen by more than 6% since Monday, reflecting growing market anxiety over the escalating conflict.