Oil Prices Surge Amid Conflicting US-Israel Claims
US President Donald Trump claimed that his country was not involved in Israel’s attack on Iran’s South Pars gas field, despite this statement conflicting with claims from the Israeli military. The escalation of the conflict has triggered threats of retaliation from Iran and a surge in global oil prices.
“The United States knew nothing about this particular attack,” Trump wrote.
“Qatar was not involved at all, and also did not know that the attack was going to happen,” he added.
Trump’s statement contradicts the account from Israeli military spokesperson Effie Defrin, who previously affirmed close coordination with the United States.
“There is no gap between us, and the coordination is very good,” Defrin said.
Iran accuses Israel and the United States of being behind the attack on the main gas facility at South Pars, which occurred on Wednesday (18/3) local time. The attack triggered a fire in the South Pars Energy Special Economic Zone in Asaluyeh.
“A few moments ago, part of the gas facilities located in the South Pars Energy Special Economic Zone in Asaluyeh were hit by rockets fired by the American-Zionist enemy,” reported Iranian state television.
The South Pars or North Dome gas field itself is the world’s largest gas reserve and supplies around 70% of Iran’s domestic gas needs, making it a vital asset for the country’s economy.
In response, the Islamic Revolutionary Guard Corps (IRGC) issued a stern warning to US-allied countries in the Gulf region. The IRGC emphasised that it would intensify attacks if Iran’s energy infrastructure is targeted again.
“We warn you once again that you have made a grave mistake by attacking the Islamic Republic’s energy infrastructure, and the response is being carried out,” stated the declaration published in Iranian media.
“If it is repeated, further attacks on your energy infrastructure and that of your allies will not stop until it is completely destroyed, and our response will be much harsher than tonight’s attack,” the statement continued.
The IRGC also threatened to target energy facilities in Gulf countries such as Qatar, Saudi Arabia, and the United Arab Emirates, which are considered allies of the United States.
On the same day, Iranian missile attacks were reported to have caused significant damage to the Ras Laffan gas facility in Qatar. The incident drew strong condemnation from the Gulf country and exacerbated the escalation of conflict in the region.
These tensions have also impacted global markets. World oil prices surged sharply on Thursday (19/3) morning, with Brent crude rising to $112 per barrel, an increase of 4.27%. Meanwhile, West Texas Intermediate (WTI) was recorded up 2.73% to $98.95 per barrel.
This spike in energy prices reflects market concerns over potential global supply disruptions, especially since the Gulf region is one of the main routes for distributing the world’s oil and gas.