Israel Bombs Iran Gas Field... Vice President Vance to Announce "A Couple of Measures" Within Two Days

Iran Warns of Expanding Frontline
Qatar Also Condemns Israel's Attack
Global Oil Prices Surge

As Israel launched an attack on Iran's South Pars gas field—the largest in the world—and Iran warned of expanding the conflict, international oil prices surged once again. The Trump Administration announced it would unveil countermeasures within one to two days to address the spike in global oil prices.

According to The Wall Street Journal (WSJ) on March 18 (local time), Israel attacked Iran's South Pars gas field and a complex of natural gas processing facilities in Asaluyeh, located on Iran's southwestern coast. The South Pars gas field is the largest of its kind globally and is operated jointly with Qatar.

This marks the first time Israel has attacked an energy production facility. Having already carried out an operation to assassinate Iranian leadership, Israel appears to be intensifying its offensive against Iran.

In response, Iran warned it would launch retaliatory strikes on oil and gas facilities in Gulf countries. The Islamic Revolutionary Guard Corps threatened immediate attacks on the energy infrastructure of Saudi Arabia, the United Arab Emirates (UAE), and Qatar, urging immediate evacuation.

Majed Al Ansari, an adviser to the Qatari Prime Minister, also condemned Israel's attack on X (formerly Twitter). He stated, "Israel's attack on facilities connected to Iran's South Pars field—specifically those extending from Qatar's North Pars field—is a dangerous and irresponsible act amid heightened military tensions in the region."

With the Strait of Hormuz—through which about 20% of the world's seaborne crude oil supply passes—effectively blocked, Israel's attack on Iran's gas field is expected to exacerbate disruptions to global energy supply.

According to Investing.com, Brent crude, the international oil price benchmark, is currently trading at $107.04 per barrel, up 3.50% from the previous session. West Texas Intermediate (WTI) crude is also trading at $95.76, up 0.24%.

Meanwhile, as international oil prices surge, the Trump Administration also announced it would roll out response measures within one to two days. U.S. Vice President JD Vance stated in a speech in Michigan that the Administration would announce "a couple of things (measures)" to address rising oil prices "within 24 to 48 hours."

This content was produced with the assistance of AI translation services.