Iran signaled the beginning of a full energy war on Wednesday, listing Gulf energy sites as retaliation targets after Israeli forces bombed the South Pars gasfield for the first time. The Revolutionary Guards named specific facilities in Saudi Arabia, the UAE, and Qatar and ordered immediate evacuations. Oil markets surged and global energy security concerns reached a fever pitch.
South Pars, the world’s largest natural gas reserve, is shared between Iran and Qatar and lies at the heart of Iran’s economic power. The Israeli strike on the field — conducted with reported US consent — represented the first direct assault on Iran’s fossil fuel sector in the conflict. It was widely interpreted as a strategic decision to undermine Iran’s economic base, even at the risk of triggering a wider energy war.
Iran’s state media broadcast the names of targeted facilities: the Samref refinery and Jubail complex in Saudi Arabia, al-Hosn gasfield in the UAE, and Mesaieed and Ras Laffan in Qatar. Workers and residents were told to leave immediately. Governor Pasalar of Asaluyeh said the war had evolved into a full-scale economic conflict, blaming the US and Israel for escalating beyond any previous boundary.
Oil prices rose nearly 5% to $108.60 per barrel, approaching $110 for the first time in years. European gas benchmarks jumped more than 7.5%. These gains reflected deep market anxiety about an already fragile energy supply picture: Gulf oil exports had fallen 60% from pre-war levels, the Strait of Hormuz remained blockaded, and infrastructure across the region had suffered significant damage from weeks of drone and missile strikes.
Qatar’s spokesperson warned that energy infrastructure attacks threatened global energy security and the welfare of regional populations. As the night drew on, the focus shifted to Iran’s next move. With specific targets named, timeframes stated, and markets already rattled, the question was not whether the energy war would escalate — but how far it would go.