Iran issued sweeping threats against Gulf energy hubs on Wednesday after its South Pars gasfield was struck by Israeli missiles for the first time in the conflict. The Revolutionary Guards named specific facilities in Saudi Arabia, the UAE, and Qatar as imminent targets and told workers and residents to evacuate. Oil prices surged nearly 5% to $108.60 a barrel on the news, approaching levels last seen in mid-2022.
The South Pars field, the world’s largest natural gas reserve, is shared between Iran and Qatar. The Israeli strike — reportedly conducted with US authorization — was unprecedented and broke a months-long restraint around Iranian energy infrastructure. Washington and Tel Aviv had previously avoided targeting Iran’s fossil fuel assets, knowing the risks of doing so. That restraint was now clearly gone, and Iran’s response was swift and unambiguous.
Named targets included Saudi Arabia’s Samref refinery and Jubail complex, the UAE’s al-Hosn gasfield, and Qatar’s Mesaieed and Ras Laffan facilities. All personnel were ordered to evacuate without delay. Iran’s state media broadcast the list publicly alongside a tight timeframe. Governor Pasalar of Asaluyeh said the conflict had entered a “full-scale economic war” phase and called the Israeli strike “political suicide.”
European gas benchmarks jumped more than 7.5% to over €55.50 per megawatt hour. Gulf oil exports had already fallen 60% from pre-war levels due to infrastructure damage and Iran’s blockade of the Strait of Hormuz. Iran had continued to ship its own crude through the strait while preventing its neighbors from doing so — a strategic asymmetry that had defined the conflict’s economic dimension throughout. The prospect of Iranian strikes on Gulf facilities threatened to push the supply crisis to catastrophic proportions.
Qatar’s government spokesperson warned the world that targeting energy infrastructure was a direct threat to global energy security and the lives of millions across the region. With Iran’s threats naming specific sites and setting a timeframe of hours, the situation had moved far beyond rhetoric. The events of the coming hours carried enormous weight — not just for the Gulf, but for the global economy.