Iranian Missiles Hit Haifa Oil Refinery, Markets React

Iran launched a missile barrage over the weekend targeting Bazan's Haifa oil refinery, Israel's largest, damaging pipelines and transmission lines and forcing a partial shutdown of downstream facilities, though core refining operations continued. No casualties were reported. Bazan's stock fell by 2.8% as the company assessed the damage and timeline for repairs. The attack comes amid escalating hostilities between Israel and Iran, with both sides targeting energy infrastructure and raising concerns about potential disruptions to global oil markets and tanker traffic through the Strait of Hormuz. Environmental activists and local residents have long warned of the risks to the Haifa facility, which had not previously sustained a direct hit. Videos circulating on social media showed large fires at the site, while Bazan has not commented on environmental impacts.