US President Donald Trump has threatened to 'massively blow up' the world's largest gas field, South Pars, if Iran continues to attack Qatari energy facilities. The threat came after Israeli strikes on the Iranian gas field prompted Tehran to retaliate against Qatari liquefied natural gas (LNG) infrastructure.
Israel's decision to target South Pars on Wednesday marked a major escalation, heightening fears of significant disruption to international energy supplies. Iran retaliated with fresh attacks across the region, including on Qatari LNG facilities, infuriating the US president.
Oil and European natural gas prices rose sharply, with Brent crude up 6% at $114 a barrel and gas prices jumping 23%. Leading Asian stock markets came under pressure, with Japan's Nikkei 225 falling 3.4%.
Trump claimed the US 'knew nothing' of the Israeli attack, despite reports that US officials were aware and approved of it. The Wall Street Journal reported that the president approved the strike to pressure Iran into unblocking the Strait of Hormuz.
Authorities in Abu Dhabi shut down operations at the Habshan gas facility and Bab field due to Iranian attacks. Ras Laffan in Qatar, the world's largest LNG hub, suffered 'extensive damage' after Iranian strikes, with QatarEnergy reporting 'sizeable fires' that have since been contained.
Trump warned that if Tehran retaliates again, 'the United States of America, with or without the help or consent of Israel, will massively blow up the entirety of the South Pars Gas Field.' The Strait of Hormuz remains all but closed, and a fire broke out on a vessel near the strait after being hit by a projectile.
