Iran’s assault on oil fields and shipping sparks fears of worldwide energy disruption
Tensions escalated in the Middle East early Wednesday as Israel and Iran exchanged fire, while Iran appeared to target the Strait of Hormuz, setting a cargo ship ablaze and forcing its crew to evacuate. Concerns are mounting over a potential global energy crisis as oil transit faces disruption.
Iran has effectively halted cargo traffic in the narrow strait, a critical route through which roughly a fifth of global oil passes from the Persian Gulf to the Indian Ocean. Gulf Arab nations’ oil fields and refineries have also been struck, seemingly aimed at pressuring the United States and Israel to cease their attacks.
Drone, missile, and ship attacks intensify
Kuwait reported that its defences intercepted eight Iranian drones, while Saudi Arabia said it shot down five drones heading for its Shaybah oil field. A projectile struck a container ship off Oman's coast in the Strait of Hormuz, igniting a fire and compelling the crew to abandon the vessel.
Saudi Arabia's defence ministry also destroyed six ballistic missiles launched toward Prince Sultan Air Base and intercepted two drones over Hafar al-Batin. Meanwhile, the United Arab Emirates’ air defences were activated early Wednesday, responding to Iranian fire that has killed six people and wounded 122.
Bahrain sounded air-raid sirens following attacks on residential areas that killed a 29-year-old woman and wounded eight others.
The United Kingdom Maritime Trade Operations (UKMTO) centre confirmed another container ship attack off Ras al-Khaimah, UAE. “The extent of the damage is currently unknown but under investigation by the crew,” it reported.
Lebanon casualties and UN response
Israel renewed air strikes on Tehran-linked targets, including Hezbollah positions in Lebanon, with explosions in Beirut and southern Lebanon. A building in Beirut’s Aicha Bakkar area caught fire, engulfing its top two floors. Earlier strikes killed five in Nabatieh, and two more in Tyre and Bint Jbeil. A Red Cross worker also died from wounds sustained during rescue efforts.
Nearly 500 people have died in Lebanon since Hezbollah fired rockets into northern Israel after American and Israeli strikes on Iran began. Iran has claimed over 1,300 deaths in Israel, while Israel reports 12 fatalities. The U.S. has lost seven soldiers, with eight more severely injured.
At the United Nations, the Security Council was set to vote on a Gulf Cooperation Council resolution condemning Iran’s attacks across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE, and Jordan. The measure calls for an immediate halt to all strikes and proxy threats against neighbouring states.
Oil prices remain elevated, with Brent crude roughly 20% higher since the start of the war, as global markets fret over prolonged disruptions. Amin Nasser, CEO of Saudi Aramco, warned that continued blockages in the Strait of Hormuz “will have a serious impact on the global economy.”
Foreign nationals continue to evacuate the region, including over 45,000 UK citizens and around 40,000 Americans.