Israeli Strikes on Iran Disrupt Regional Gas Supply

Israel escalated its military campaign against Iran by targeting key energy infrastructure, including strikes on the South Pars gas field and multiple oil refineries. The attack on South Pars, a critical site shared with Qatar and responsible for most of Iran's domestic gas production, resulted in a fire and a temporary halt in gas output. Israeli forces reportedly destroyed over 150 targets and 400 assets, marking a significant expansion of hostilities beyond previous attacks on nuclear and military sites. These strikes triggered a 9% surge in global oil prices and heightened concerns about broader regional energy disruptions. In response to reduced Israeli gas imports, Egypt cut gas supplies to some industries, forcing fertilizer companies to halt operations and highlighting the cascading impact on regional economies. The developments underscore escalating risks to both regional stability and global energy markets.