An Israeli drone strike on Iran’s South Pars gas field—the world’s largest—has triggered a serious energy disruption and widened the conflict. The fire damaged one of the processing units in Phase 14,

Israel and Iran launched fresh attacks, killing and wounding civilians and raising concerns of a broader regional conflict.

Over dozen dead, over 300 injured from Iran's missile barrage since Friday, while 29 children among 140 killed in Israeli campaign.

The country’s exports mostly come from Kharg Island in the Persian Gulf. But Israel’s energy facilities are also at risk.

Iran last threatened to close the Strait in April 2024, as it has done on several previous occasions. Shipping was targeted in the Middle East Gulf during the ‘Tanker War’ of the 1980s, fought between Iran and Iraq. That conflict saw 400 merchant ships attacked, with over 400 seafarers killed. (Copyright)

As hostilities between Israel and Iran intensify, regional neighbours in the Gulf might yet prove to be able peacemakers

Israel’s attacks on Iran renewed fears of war between the countries and immediately threatened the region’s economy.

That scenario now appears alarmingly close. On the evening of June 12th, Israel launched dozens of air strikes on Iranian military and nuclear sites. The attack threatens to inflame the Gulf, which pumps a third of the world’s oil. Brent crude, the global benchmark, rose by 8% on June 13th, to $74 a barrel (see chart). How high might it now go?

Iran has vowed to avenge the Israeli attacks, stating that its response will be anything beyond what Israel and ally, the United States, could ever imagine, triggering the fears of a full-scale Iran-Israel war.