Iran’s retaliation clock started Wednesday after Israel carried out an unprecedented attack on the South Pars gasfield — the world’s largest natural gas reserve. The Revolutionary Guards announced that facilities in Saudi Arabia, the UAE, and Qatar would be struck “in the coming hours,” naming specific sites and ordering evacuation. Oil prices surged toward $110 a barrel as the retaliation clock began counting down and global markets held their breath.
South Pars, shared between Iran and Qatar, has been the centerpiece of Iran’s gas economy throughout the conflict. The Israeli attack — reportedly conducted with US backing — broke months of deliberate restraint around Iranian energy infrastructure. Washington and Tel Aviv had previously avoided targeting Iranian fossil fuel assets, but the decision to proceed immediately started the clock on what Iran described as an inevitable and proportionate retaliatory response.
Iran’s state media named Saudi Arabia’s Samref refinery and Jubail complex, the UAE’s al-Hosn gasfield, and Qatar’s Mesaieed and Ras Laffan facilities as targets for strikes within hours. All personnel were instructed to evacuate immediately. Governor Eskandar Pasalar of Asaluyeh called the US-Israeli strike “political suicide” and declared the conflict had entered a full-scale economic war phase.
Brent crude rose nearly 5% to $108.60 per barrel, while European gas prices jumped more than 7.5% to over €55.50 per megawatt hour. Gulf oil exports had already fallen 60% from pre-war levels due to infrastructure attacks and Iran’s Strait of Hormuz blockade. Iran had continued to export its own crude through the strait unimpeded while blocking Gulf neighbors’ shipments — a strategic advantage that had given it significant economic leverage throughout the conflict.
Qatar’s government spokesperson warned that attacking energy infrastructure constituted a direct threat to global energy security and regional welfare. With the retaliation clock running and specific targets named, the world faced an energy crisis whose outcome was uncertain but whose potential consequences were enormous. The unprecedented nature of the South Pars attack had set a new and dangerous standard — and Iran’s retaliation clock was running down.