Oil prices soar as Iran targets energy facilities across Persian Gulf
Category: News & Politics
Via: hallux • 8 months ago • 5 commentsBy: Victoria Craw and Siham Shamalakh - WaPo
S E E D E D C O N T E N T
Oil and gas prices have surged as Iran intensified strikes on facilities across the Persian Gulf, sparking calls for de-escalation from global leaders amid fears of a prolonged disruption to global energy markets.
The price of Brent crude, the global oil benchmark, climbed past $115 per barrel Thursday morning, as Gulf states reported more attacks on critical infrastructure. The price of European natural gas futures also rose.
Kuwait’s National Petroleum Company reported two refineries were targeted by drones, causing fires. Saudi Arabia’s Ministry of Defense said that it was assessing damage after a drone strike at the Samref refinery and that it had intercepted a ballistic missile launched toward the port of Yanbu on the Red Sea.
In a joint statement Thursday, representatives from 12 countries in the region, including Qatar, Turkey, Jordan and Lebanon, denounced what they called Iran’s “deliberate attacks” targeting civilian areas as well as oil facilities, airports, diplomatic buildings and residences.
“The United States knew nothing about this particular attack, and the country of Qatar was in no way, shape, or form, involved with it, nor did it have any idea that it was going to happen,” Trump said, adding that Iran “unfairly” attacked a Qatari gas facility in retaliation.
“NO MORE ATTACKS WILL BE MADE BY ISRAEL” on the South Pars field unless Iran attacked Qatar, Trump said, in which case the U.S. would “massively blow up the entirety” of the gas field with “amount of strength and power that Iran has never seen or witnessed before.”
The post followed strikes that jolted energy markets and further embroiled Persian Gulf nations in the U.S. and Israeli war with Iran. After Israel struck the South Pars field, Iran fired back with missile attacks that caused “extensive damage” at the major Qatari gas facility, according to Qatar’s state-owned energy company.
“An eye for an eye equation is in effect, and a new level of confrontation has begun,” Iranian parliament Speaker Mohammad Ghalibaf said after Wednesday’s attack on South Pars.
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“An eye for an eye equation is in effect, and a new level of confrontation has begun,”
The Joys of Revenge ... oh happy days /s.
The question is when are they going to do something other than issue joint statements.
Iran stated in so many words that they are playing the long game.
It took 37 years for the $11Billion in assets frozen by Jimmy Carter to be "returned" or have access to restored, with interest, per the UN High Court. 7 countries participated.
Iran believes that it can hold out against bombings and sanctions until the US and Israel run out of weapons, patience or a get new Administrations.
Then they will go back to the UN High Court and seek compensation from the US and Israel.
Someday, maybe decades later, they will probably win.
Vietnam taught the world how to fight the bigboys assymetrically.
NetandYahoo now wants to build an oil pipeline to bring ME oil to the pristine beaches of Israel and it's ports.
What could go wrong /S
Israel protects the pipeline, charges transit fees and the Strait of Hormuz becomes moot.
Sure, no problem, lol.