Israel-US Iran War: Israel and the United States have once again launched a large-scale attack on Iran. According to the International Energy Agency (IEA), at least 40 Iranian energy facilities suffered severe damage or were completely destroyed in this attack on Tehran on Monday. According to an AFP report, Israel began a new round of attacks on Monday, further escalating tensions in the region. In response, Iran has also warned of targeting key infrastructure linked to Israel in the Middle East.
Explosions Echo in Tehran
The ongoing conflict between Israel, Iran, and the United States has now entered its 24th day and is being linked to the threat of a global energy crisis. During the attacks, continuous explosions were heard in Tehran, which was also confirmed by Iranian media. Meanwhile, Saudi Arabia and the United Arab Emirates (UAE) have claimed to have successfully intercepted missiles and drones launched by Iran.
Iran has also intensified its retaliation, beginning to target sites linked to Israel and the US in the Middle East. According to Saudi Arabia’s Ministry of Defense, a ballistic missile fired towards Riyadh was intercepted en route by the air defense system, while another missile fell in an uninhabited area. Meanwhile, the United Arab Emirates (UAE) has also claimed to have intercepted Iranian missiles through its air defense system.
According to Fatih Birol, head of the International Energy Agency (IEA), at least 40 oil and gas-related energy facilities have suffered “severe or very severe” damage in this conflict. This confrontation, which began after attacks by Israel and the United States, has now reached its fourth week.
Surge in Crude Oil Prices
In recent weeks, Iran has launched several major missile and drone attacks in Israel and Gulf countries, targeting energy installations and the US embassy. Additionally, Iran has halted traffic in the Strait of Hormuz, through which about 20 percent of the world’s total crude oil passes. Amid growing supply concerns, international crude oil prices remain above $100 per barrel.
Meanwhile, US President Donald Trump has warned via social media that if Tehran does not fully reopen the Strait within 48 hours, the US could target Iran’s power plants. This deadline is reportedly by Tuesday morning.
Following the attacks by Israel and the United States, Iran has also adopted a strong stance, reacting sharply. Iranian Parliament Speaker Mohammad Bagher Ghalibaf clearly stated that if Donald Trump acts on his warning, vital infrastructure across the region will be considered “legitimate targets” and will be “irreversibly destroyed.” It has also been indicated that Iran is considering imposing taxes on ships passing through the Strait of Hormuz, and it will now be difficult to restore the situation to its previous level.
Fatih Birol, head of the International Energy Agency (IEA), stated in Canberra that the current crisis is causing a shortage of about 11 million barrels of oil per day, which is more severe than the oil crisis of the 1970s. He warned that if this situation continues, it will affect every country in the world. The IEA is also considering releasing additional oil reserves in conjunction with member countries.
Impact on Asian Markets
The impact of this tension is clearly visible on global markets. Asian stock markets have seen declines, while crude oil prices are continuously rising. Iran has permitted ships from some “friendly nations” to pass through Hormuz but has warned against stopping ships from countries involved in the attacks.
Meanwhile, Israel has intensified its ground operations against Iran-backed Hezbollah in Lebanon. Prime Minister Benjamin Netanyahu has described this campaign as a long-term one. According to Israeli army spokesperson Brigadier General Effie Defrin, this conflict against Iran and Hezbollah could continue for several more weeks.
Amidst the ongoing conflict in Lebanon, the situation has become extremely serious. Over 1,000 people have lost their lives in Israeli attacks so far, while more than 1 million people have been forced to leave their homes. On the other hand, several people have been injured by Iranian missiles falling in the southern Israeli cities of Dimona (near the nuclear center) and Arad.
Israel has vowed to target top commanders of Iran’s Revolutionary Guard. Meanwhile, more than 3,230 deaths have been reported in Iran, including a large number of civilians.
This escalating conflict is becoming a major threat to the global economy, energy markets, and regional stability. Former US President Donald Trump had spoken of ending this war, but the warning of attacks on power plants has further exacerbated the situation.
