Iran War
Live Updates: Oil Prices Spike as Gulf Energy Sites Are Struck
Airstrikes
hit a major energy facility in Qatar after Tehran vowed retaliation for an
earlier strike on infrastructure of the vast South Pars offshore gas field,
Iran’s biggest source of natural gas.
Abdi
Latif Dahir Christina Goldbaum and Rebecca Elliott
https://www.nytimes.com/live/2026/03/18/world/iran-war-news-trump-oil
Here’s
the latest.
Drone and
missile attacks targeted major energy facilities in Qatar and Saudi Arabia on
Wednesday, hours after Iran vowed retaliation for the largest set of strikes on
its energy production in nearly three weeks of war, stoking fears of a
worsening global fuel crunch and the resulting rising prices.
Earlier
in the day, airstrikes hit the infrastructure of Iran’s vast South Pars
offshore gas field, its biggest source of natural gas, which could worsen the
country’s already severe domestic energy shortages. Iraq, which normally gets
one-third of its natural gas from Iran, said that flow had been completely cut
off, knocking out a large part of Iraq’s electric power supply.
In the
evening, Qatar’s state-owned energy company said missiles did “extensive
damage” to a major energy hub; one of the world’s biggest producers, Qatar has
all but halted natural gas exports as Iran effectively blockades shipping
traffic in and out of the Persian Gulf.
Saudi
Arabia said it had intercepted a drone approaching one of its gas plants, and
loud explosions rocked the capital, Riyadh, as its air defenses shot down what
it described as waves of incoming missiles.
The
government of Qatar said the attack came from Iran, which has aimed missiles
and drones at its neighbors since the war began, in retaliation for U.S. and
Israeli bombing, trying to exert international pressure on them to by
inflicting economic pain abroad.
“The
Iranian side continues its escalatory policies that are pushing the region
toward the brink and drawing countries not party to this crisis into the
conflict zone,” Qatar’s foreign ministry said in a statement.
In
Washington, the director of national intelligence, Tulsi Gabbard, told the
Senate Intelligence Committee that even though the Iranian leadership has been
“largely degraded” by U.S. and Israeli attacks, the government still “appears
to be intact.”
Ms.
Gabbard and John Ratcliffe, the C.I.A. director, also undermined President
Trump’s statements that he went to war because Iran would soon have missiles
capable of reaching the United States. Iran could “begin to develop” an
intercontinental ballistic missile “before 2035, should Tehran attempt to
pursue that capability,” Ms. Gabbard said.
Oil and
natural gas prices spiked following reports of the South Pars strikes, which
hit petrochemical facilities in the southern city of Asaluyeh, Iran said. Those
facilities process gas from the South Pars field, which lies under the Persian
Gulf. The benchmark crude oil settled at more than $107 on Wednesday afternoon,
but later pushed above $110 in international trading.
Here’s
what else we are covering:
Pentagon:
The Pentagon did not comment on the strike on the South Pars gas field. While
the Pentagon has held a handful of news conferences, military officials overall
have provided few details about specific targets in Iran or Iranian strikes on
American facilities. U.S. officials have periodically issued statements that
offer an accounting of how many airstrikes U.S. Central Command has carried
out.
Intelligence
chief killed: An Israeli airstrike on Wednesday killed Iran’s intelligence
minister, Esmaeil Khatib, continuing Israel’s systematic targeting of
high-ranking officials that has decimated the upper ranks of the government in
Tehran. The Israeli military said in a statement that Mr. Khatib’s ministry had
overseen espionage and covert operations against Iranians as well as Israeli
and American targets across the world.
Iranian
strikes: In retaliation for the killings of Mr. Larijani and the commander of
Iran’s powerful Basij militia, Iran’s Islamic Revolutionary Guards Corps said
on Wednesday that it had struck Israel. Two people were killed by missile fire
in Ramat Gan, outside Tel Aviv, and at least one person was injured by
shrapnel, Israel’s emergency service said. Later Central Israel came under
fire, and at least one missile appeared to get through air defenses,
authorities said.
Death
toll: It remains unclear precisely how many people have been killed in Iran. A
week ago, Iran’s U.N. representative told the Security Council that at least
1,348 civilians had been killed since the start of the war on Feb. 28. It’s
unclear if that number excludes any government and military officials.
Lebanon:
In Lebanon, health officials said that 968 people have been killed. In Israel,
at least 14 people have been killed, the authorities said. The Pentagon says
that 13 American service members have died since the start of the war.

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