Oil prices increased again after Iran’s massive Pars natural gas field was attacked on Wednesday, a major escalation in the U.S.-Israeli war, and Tehran strike back with air strike on a refinery in Qatar, producing considerable destruction.
U.S. allies Qatar, the United Arab Emirates and Oman denounced the bombing on Pars. A White House official stated the United States was not involved in the attack on Pars, and a Pentagon spokesperson referred inquiries to the Israeli Defense Forces. Benchmark Brent crude prices ascended after the attack to approach $110 a barrel.
The Pars attack emanated after the top U.S. intelligence official communicated to senators the regime in Tehran was “unbroken” but “mostly degraded” in the 19-day-old Iran war, while President Donald Trump articulated frustration with European partners over efforts to open the Strait of Hormuz, and U.S. gas prices hit a national average of $3.86 a gallon.
The “regime in Iran seems to be intact but fundamentally degraded,” Director of National Intelligence Tulsi Gabbard expressed to the Senate Intelligence Committee. The war has so far slain more than 3,000 people in Iran, 900 in Lebanon, and dozens elsewhere in the region, counting 13 US troops.
Trump, irritated by a warmish response to his call for a naval coalition to aide traffic through the Strait of Hormuz, advocated he might assert victory and let Europe “be accountable for the so called ‘Strait.’ That would get some of our non-responsive ‘Allies’ in gear, and fast!!!” In Germany, Chancellor Friedrich Merz instructed legislators he would not take involvement: “This is not our war. We will not do it.”
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