On March 18, the conflict in the Middle East entered a new dangerous phase as Iran expanded its attacks on energy infrastructure across the Gulf, after its strategic Pars gas field was hit. The "tit-for-tit" reaction is causing the global oil and gas market to shake violently.
In Qatar, the Ras Laffan energy industrial park - the world's leading export center of liquefied natural gas (LNG) - was hit by a missile, causing serious damage, according to QatarEnergy's confirmation.
In Saudi Arabia, the air defense system intercepted 4 ballistic missiles aimed at Riyadh and prevented a UAV attack on the eastern gas facility.
This move took place immediately after the Pars gas field - part of Iran's largest gas field in the world that this country shares with Qatar - was attacked. Regional media believes that Israel is acting with the consent of the United States, although no party has officially claimed responsibility.
Iran quickly responded by listing a series of "legitimate" targets, including large oil and gas facilities of Saudi Arabia, UAE and Qatar, and warned that it would continue to attack in the next few hours. This message put the entire Gulf energy infrastructure in a state of alarm.
Escalating tensions are pushing the global energy market into an unprecedented instability. Brent oil prices have risen by about 5%, surpassing the 108 USD/barrel mark, while international stocks simultaneously fell. In the US, diesel oil prices have surpassed 5 USD/gallon - the highest level since the 2022 inflation shock.
One factor that makes the situation more serious is that Iran has closed the Strait of Hormuz - a shipping route for about 20% of global oil and liquefied gas supplies. If the conflict continues to destroy production infrastructure, the risk of long-term supply disruption is very high.
In Washington, the US Director of National Intelligence assessed that the Iranian apparatus has weakened but is still capable of carrying out large-scale attacks targeting the interests of the US and its allies. The administration of President Donald Trump is said to be preparing emergency measures to curb the rise in energy prices.
In the opposite direction, the European Union (EU) called for ensuring maritime safety in Hormuz and promoting diplomatic solutions. However, these efforts are being overshadowed by the reality of widespread war.
On the ground, the conflict is not limited to the Gulf region. Israel has launched fierce airstrikes on Beirut, destroying many residential areas. Attacks targeting Iranian leaders have also escalated, with Tel Aviv's statement "no one is immune".
Iran responded with a series of missiles aimed at many Israeli cities and US bases in the region, stretching from Bahrain, Iraq to Saudi Arabia and the UAE. Civilian casualties continue to increase on both sides, with thousands of people killed since the fighting broke out in late February.
In that context, observers warn: When energy facilities become direct targets, not only the Middle East but the entire world economy is being dragged into the eye of the storm. A large-scale energy crisis is no longer a distant scenario, but has begun to materialize.
