Iran's energy facilities have been attacked, causing oil prices to rise, and supply in the Persian Gulf region continues to be disrupted, putting further pressure on the global energy market.
On Wednesday, Iranian state television reported that a portion of the South Pars gas field, Iran's largest gas field, was damaged in an airstrike, and the Asaluyeh oil industrial facility was also affected. Further details of the attack are yet to be confirmed.
Following the news, Brent crude oil futures quickly surged, briefly surpassing $100, with Brent crude spot prices trading around $105 per barrel.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/cf9414ab-0a0e-49d9-93fa-5e061e27ae91.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/cf9414ab-0a0e-49d9-93fa-5e061e27ae91.png"/>
Meanwhile, conflicts in the Middle East continue to escalate.
According to a previous report by Xinhua News Agency, Major General Amir Ali Hajizadeh, commander of the Aerospace Force of the Islamic Revolutionary Guard Corps, stated on the 18th that Iran plans to &#34;launch the strongest retaliatory strike against the enemy to date.&#34; The commander of the Iranian army, Amir Hatami, also stated that they would &#34;respond decisively&#34; to the assassination of Larijani, &#34;making the enemy regret.&#34;
Trump stated that the U.S. is expected to end this conflict soon. However, as traffic through the Strait of Hormuz has nearly come to a standstill, the impact on the global energy supply chain is spreading to various levels, including fuel shortages in Asia and global inflation expectations.
<h2>The Strait of Hormuz is nearly at a standstill, with limited capacity on alternative routes</h2>
Iranian state television reported that a portion of the South Pars gas field was damaged in the airstrike, and the Asaluyeh oil industrial facility was also affected. The specific scale and extent of the damage from the attack have not yet been independently verified.
The South Pars gas field is Iran's largest gas field and a major source of natural gas for Turkey. If Turkey loses part of its Iranian gas supply, it may increase its demand for liquefied natural gas in an already tight spot market.
Brent crude oil has risen nearly 70% this year, with most of the increase occurring after the U.S. and Israel launched attacks on Iran, followed by Tehran's retaliatory strikes on regional energy and shipping assets. This round of conflict has pushed energy prices to multi-year highs.
Countries in the Persian Gulf are actively seeking alternatives to bypass the Strait of Hormuz, but with limited success. The Strait of Hormuz, one of the most important energy transport routes in the world, is currently nearly at a standstill.
Iraq plans to restart a pipeline connecting the Kurdistan region to the Turkish Mediterranean port of Ceyhan to restore some crude oil exports. However, the pipeline's capacity can only handle a small portion of Iraq's pre-war production—currently, Iraq's output has fallen to about one-third of pre-war levels. PVM analyst Tamas Varga stated:
<blockquote>
&#34;Once the Strait of Hormuz is closed, the immediate impact will be rising energy prices, which the U.S. government may have seriously underestimated. The U.S. objectives regarding Iran remain unclear, and the end of the conflict is still far off.&#34;
</blockquote>
The fuel shortages triggered by the conflict have already manifested in many parts of Asia, and the pressure on the global supply chain continues to accumulate

The South Pars gas field is Iran's largest gas field and a major source of natural gas for Turkey. Some areas of the gas field were damaged in an airstrike, and the Asaluyeh oil industrial facility was also affected. Following the news, Brent crude oil futures quickly surged, briefly surpassing $100, with Brent crude spot prices trading around $105 per barrel

- The attack on Iran's energy facilities has led to a surge in oil prices, with Brent crude oil futures reaching over 100 USD, while global energy markets face significant pressure.  
- The damage occurred at Iran's largest gas field, South Pars, and the Asaluyeh oil industrial facility, though the extent of the losses remains unverified.  
- The ongoing conflict in the region is exacerbating supply chain issues and contributing to fuel shortages in Asia, with alternatives to the critical Strait of Hormuz proving limited.

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Stalemate in Conflict! Iran's Largest Gas Field Attacked, Brent Crude Spot Price Soars to $105