Both sides in Iran war ratchet up attacks on energy facilities, as oil prices surge
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The Bottom Line
Saudi Arabia intercepted ballistic missiles as both sides escalate attacks on oil and gas facilities, driving up global oil prices.
How This Affects You
Rising oil prices from Middle East conflict will likely increase your gas prices at the pump and heating costs this year.
AI Summary
Saudi Arabia's Defence Ministry said it intercepted and destroyed four ballistic missiles launched toward Riyadh on Wednesday, marking an escalation in attacks on energy infrastructure between regional rivals. The interception occurred as both sides intensify strikes targeting oil and gas facilities, driving up global oil prices in response to the mounting military tensions. The missile attack came just ahead of a meeting of regional and Islamic foreign ministers in the Saudi capital, underscoring the volatile security situation in a strategically critical energy-producing region. These attacks on energy infrastructure raise the risk of broader supply disruptions in global oil markets, which are already sensitive to Middle Eastern instability. The escalating cycle of strikes suggests the conflict is expanding beyond direct military confrontation to target the economic assets that fuel regional economies and global energy supplies.
What's Being Done
Saudi Defence Ministry intercepted and destroyed four ballistic missiles launched toward Riyadh.
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Attacks on Oil and Natural Gas Facilities Could Lead to Much Higher Prices
European Gas Jumps 35% After World’s Top LNG Plant Hit by Iran - Bloomberg.com
This article is part of a story we're tracking:
Iran & Middle East Conflict
Tracking the evolving military and diplomatic situation across the Middle East, including US-Iran tensions, Israeli operations, proxy conflicts, and the broader geopolitical implications for the region.
Economy & Markets
Monitoring the US and global economy including inflation, employment, Federal Reserve policy, trade tensions, market volatility, housing affordability, and the financial pressures facing American households.
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GlobalIran attacks target Saudi Arabia, Oman, Bahrain, Dubai
New waves of attacks struck Gulf nations on Friday after Iran renewed its threats on oil facilities. Tehran has unleashed waves of drone and missile strikes against neighbouring states hosting US military assets, including Saudi Arabia, Oman, Bahrain and Dubai. Hoda Abdel-Hamid reports from Doha, Qatar.
GlobalIran hits Gulf neighbors and keeps stranglehold on oil shipping as concerns rise of energy crisis - AP News
<a href="https://news.google.com/rss/articles/CBMilwFBVV95cUxNMnFkQ1lMcXNwMjZtWkluTVNScXFuZl9vakpnUFdHR2ZONGNlRlpDUlN0OWo3U0NEUHJTWXVWN3NWTzBycU5LU2laRkE0bkI3ZzlrQ0dhT2dPVk9WV0lWM3hoTW9MSHd4R1JCdHhyV1JRcGdUdzFJdV9JWllxckZpUXViaHlpdGZDYjJVdU1oY28xOFAwdlNr?oc=5" target="_blank">Iran hits Gulf neighbors and keeps stranglehold on oil shipping as concerns rise of energy crisis</a> <font color="#6f6f6f">AP News</font>
GlobalTrump says Israel attacked Iran gas field without US and Qatari involvement, warns against attacks on Qatar - Reuters
<a href="https://news.google.com/rss/articles/CBMiywFBVV95cUxOaHlsV2txcHpXRmxvVlRDMkpiYk5ybktCdzlXOEFwdk9BUmtrSE9leUZEV3M4b2VBQl9KZWFhbjU4RXloeWRkR05UR3E3emZZOGpNYTZUck90bzN4c1N2OVk4dWt3MGZMaU9zOXpmNjF3VXZTMWNhSUVFWW5DV2JYM2Q2ajd2aFdHaGpDaE9ReG84dkJxYnNjZHRZODloR3B4aU1mSUtuSE84QTEzU2J0aHJnRlYwUS1DQUlnaFg3Z1RGaFBiWXJGbEhQaw?oc=5" target="_blank">Trump says Israel attacked Iran gas field without US and Qatari involvement, warns against attacks on Qatar</a> <font color="#6f6f6f">Reuters</font>
GlobalSaudi Official Warns Patience Is Limited as Iranian Attacks Barrage Kingdom
Prince Faisal bin Farhan, the foreign minister, said Saudi Arabia was prepared to take military action if necessary, after waves of missile and drone attacks.
FinanceCracks emerged in a resilient US economy before war in Iran sent oil prices rocketing - AP News
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FinanceOil jumps to $100 per barrel and stocks sink worldwide with no clear end in sight for the Iran war - AP News
<a href="https://news.google.com/rss/articles/CBMimwFBVV95cUxPSnFlbERpcHJlaGFFRFkyNkI3b3ZkS3d6NUlvZjdOZlBiSjlZLVR1RUxaQkJLaUxlUjNxYVFNd1FKMU5QbkptUmdwQnp3dWNpeXpCMlZrX1lOLXlRTXRzTXZRYUt4bG9XT2VnQ0VxeXJpc3RDYTU1N1FmQTNXR1lNa2xrM2cySnh3TXllRE5XSTVwdXdDSTNJU3M5RQ?oc=5" target="_blank">Oil jumps to $100 per barrel and stocks sink worldwide with no clear end in sight for the Iran war</a> <font color="#6f6f6f">AP News</font>
First Thing: Trump says US does not need Nato after strait of Hormuz rebuf | Clea Skopeliti
<p>Snub comes as Iran vows revenge for killing of Ali Larijani. Plus, judge orders reinstatement of Voice of America staff</p><p>Good morning.</p><p>Donald Trump has said the US does not need Nato after a number of the organization’s members <a href="https://www.theguardian.com/world/2026/mar/17/trump-us-president-nato-strait-of-hormuz-iran-middle-east">rejected his call to send their warships</a> to reopen the strait of Hormuz.</p><p><strong>How many people have been displaced in Iran?</strong> Up to 3.2 million people, according to the UN’s refugee agency. Here, Tehran residents <a href="https://www.theguardian.com/world/2026/mar/18/iranians-daily-life-under-air-attack">speak about their daily life</a> under bombardment.</p><p><strong>For the latest updates,</strong> <a href="https://www.theguardian.com/world/live/2026/mar/18/iran-war-live-updates-oil-prices-hormuz-trump-larijani-key-leader-killed-israel-strikes">follow our liveblog.</a></p> <a href="https://www.theguardian.com/us...
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