Here's the latest
• Energy prices spike: Brent crude, the global oil benchmark, hit $115 a barrel this morning after Israeli strikes sparked Iranian retaliation on energy infrastructure across the Middle East, including on Qatar’s critical liquefied natural gas hub Ras Laffan.
• Threat of retaliation: US President Donald Trump threatened to “blow up” the world’s largest gas field, a key Iranian asset, if Tehran keeps up its attacks on Qatar. He also said the US “knew nothing” about Israel’s plan to strike the South Pars field yesterday.
• Diplomatic showdown: Saudi Arabia said it “reserved the right to take military action” against Tehran, while Qatar expelled Iran’s military and security attachés.
• Ships hit: Unknown projectiles hit two vessels in separate incidents in and around the Persian Gulf early Thursday, said the UK’s maritime agency.
US gas prices rise to $3.88 a gallon
Gas prices in the United States gained another 4 cents a gallon today, according to AAA. The average price for a gallon of regular gas now stands at $3.88.
That’s the highest since October 17, 2022, which was the tail end of the record gas price spike after Russia launched its full-scale invasion of Ukraine.
US gas prices have risen 90 cents in just 19 days since the start of the Iran war.
Eight states now average more than $4 and three states — California, Hawaii and Washington — average more than $5.
Trump says US “knew nothing” about a strike on Iran’s gas field. An Israeli official says it was coordinated with the US
President Donald Trump said the United States “knew nothing” about an Israeli strike on Iranian facilities in the South Pars gas field – the world’s largest natural gas reserve.
But an Israeli source familiar with the attack told CNN on Wednesday that Israel had carried out the attack in coordination with the US, contradicting the president’s claim.
The strike was seen as a major escalation in the war. Israel had previously attacked a number of Iranian fuel depots, but had until Wednesday refrained from striking oil and natural gas production facilities.
In response, Iran attacked major energy facilities in neighboring Gulf states, causing what Qatar said was “extensive damage” at its main energy hub, Ras Laffan. The tit-for-tat strikes caused energy prices to soar, and analysts have warned that the damage at Ras Laffan could trigger a lasting global gas shortage.
Energy prices spike as Trump threatens to “blow up” the world’s largest gas field. Here’s the latest
Oil and gas prices are spiking after Israel’s strike on Iran’s South Pars, the world’s largest natural gas field, shared with Qatar.
After Iran retaliated by striking a liquefied natural gas (LNG) facility in Qatar, President Donald Trump said the United States will “massively blow up” the South Pars gas field if Iran continued to attack Qatar. Oil and gas prices soared again after the latest escalation in the Middle East.
Catch up on the latest developments:
- Energy prices soar: Brent crude, the global oil benchmark, extended the previous day’s gains, rising nearly 8% to $115 a barrel. On Wednesday, Brent settled at $107.38 a barrel, its highest closing level since mid-2022. WTI, the US benchmark, rose around 1% to $96 a barrel.
- South Pars attack: In a major escalation of the war, Israel on Wednesday struck an Iranian facility in the South Pars gas field – the biggest source of Iran’s domestic energy supply.
- Iran’s retaliation: In retaliation, Iran struck major energy facilities in the region. Qatar reported “extensive damage” at its main energy hub, the Ras Laffan Industrial City. Two refiners in the Saudi capital Riyadh were also attacked, prompting its government to warn it “reserved the right to take military action” against Iran.
- Trump’s threat: In a Wednesday evening post on Truth Social, Trump said the US “knew nothing” about Israel’s strike on South Pars, but warned Iran that the US would “massively blow up” the entirety of the gas field unless Iran halted its attacks on Qatar.
- Source casts doubt: Despite Trump’s claim that Israel struck the gas field without consulting the US, an Israeli source told CNN on Wednesday that the strike had been carried out in coordination with the US.
- Oman warns US: Meanwhile, Oman’s Foreign Minister Badr Albusaidi wrote in an opinion piece for The Economist that the war against Iran is the Trump administration’s “greatest miscalculation.” Albusaidi said it appeared that Israel had “persuaded” the US it would be an easy war to win.
What is Qatar's Ras Laffan facility and why Iran's attacks on it could prolong the energy crisis
In less than 12 hours, Iranian missiles struck Qatar’s Ras Laffan Industrial City twice, causing “extensive damage” to this critical energy hub in the Gulf state. But the impact is expected to ripple far beyond the Middle East.
Operated by state-owned QatarEnergy, Ras Laffan is arguably the world’s most important liquefied natural gas (LNG) hub, combining transportation, processing and port facilities. Qatar exports about 20% of the global supply of LNG –– the second largest exporter, after the United States –– with nearly all of its gas shipped from Ras Laffan.
The production of LNG and other products there has been suspended since early March due to the effective closure of the vital shipping lane of the Strait of Hormuz, and the significant damage to the production facilities could further lengthen the time it takes to restart the facility.
Some South Asian countries, including Pakistan, Bangladesh, and India, are expected to bear the brunt, as they rely on Qatar for more than half of their LNG supplies and have limited stockpiles. But Ras Laffan also supplies countries in other parts of Asia, Europe, and Africa, all of which would be forced to cope with the supply disruptions.
Beyond LNG, Ras Laffan also produces fertilizer, including urea and ammonia –– key supplies for the agriculture industry –– as well as sulfur and helium, a gas essential in the manufacturing of microchips. The hub can supply around 25% of the world’s helium production, according to QatarEnergy.
Ras Laffan Industrial City is located at the northeast tip of the Qatar Peninsula and about 80 kilometers (50 miles) north of Doha. It processes gas from a large reserve in the Persian Gulf that is shared with Iran –– Qatar calls its part the North Dome field, while Iran calls its South Pars.
Kuwait's Mina Al-Ahmadi oil refinery attacked by drone, state media says
The Kuwait Petroleum Corporation said a unit at the Mina Al-Ahmadi Refinery was attacked by a drone on Thursday, resulting in a small fire, the Kuwait News Agency reported.
There were no injuries as a result of the attack, according to KUNA.
The Mina Al-Ahmadi oil refinery is located about 40 kilometers (25 miles) south of the capital Kuwait City.
Earlier on Thursday, Kuwait’s armed forces said the country’s air defenses were responding to “hostile missile and drone threats.”
Mother pulled from Tehran rubble asks if child is alive
A mother asked if her child was still alive as rescuers dragged her to safety from rubble at a residential building in Tehran, according to aid workers.
Footage posted on X by the Iranian Red Crescent Society late Wednesday shows the moment she was brought to safety.
A rescue worker wearing overalls and a headtorch clears broken bricks and grabs the woman’s hand, telling her, “we’re going to get you out. Try to stand, and we’ll pull you out,” as she asks for her child.
The crew tells her, “we saved them… she was in that room in the corner. We brought everyone downstairs safely.”
This post has been amended to reflect that the video was released late Wednesday
Oman's foreign minister says Iran war is Trump administration's "greatest miscalculation"
In an opinion piece in The Economist, Oman’s top diplomat, who had mediated talks between Washington and Tehran before the war broke out, urged American allies to step in and help end what he called an “unlawful war.”
Foreign Minister Badr Albusaidi called the war the Trump administration’s “greatest miscalculation,” describing the impact it has had on the global economy and regional security.
Gulf states, including Oman, have for decades purchased American weapons and hosted US bases in the hopes of deterring a potential Iranian attack. The relative peace and prosperity these nations had enjoyed are now under threat, Albudsaidi wrote, because the US has “lost control of its own foreign policy.”
He added that it seems Israel had “persuaded” the US it would be an easy war to win – but that to achieve Israel’s goals, the US would have to put troops on the ground and commit to the type of forever war Trump had vowed to end.
Satellite image shows cargo ship on fire in Strait of Hormuz
A new satellite image taken on March 18 shows large plumes of smoke billowing from the Maltese-flagged Safeen Prestige container ship as it drifts in the Strait of Hormuz.
The 175-meter vessel is about 4.5 nautical miles northeast of Oman’s Ra’s Makhbūq, according to the image from the European Space Agency.
The Safeen Prestige was hit by an “unknown projectile” on March 4, causing a fire in the engine room, the UK Maritime Trade Operations (UKMTO) said.
All the crew abandoned the vessel. It is not clear when the fire seen in the satellite image began.
A navigation warning issued Wednesday by Pakistan’s National Hydrographic Office, which oversees the part of the Persian Gulf where the Safeen Prestige is adrift, warned other vessels in the area that the ship was on fire.
CNN identified the vessel by measuring the ship’s length in the satellite image and matching it against official shipping records for the Safeen Prestige. The coordinates given in the maritime warning also correspond to the location shown in the image.
Oil surges, Asian markets retreat as Iran war targets gas facilities
Asian shares are sliding lower while oil prices rise after tit-for-tat strikes on critical gas facilities across the Middle East.
Japan’s benchmark Nikkei 225 is under pressure as investors digest the latest attacks on energy sites as well as the Bank of Japan’s decision to hold interest rates steady.
Other major indexes across the region – Seoul’s Kospi, Hong Kong’s Hang Seng, and the Shanghai Composite – are also in the red as Brent crude, the global oil benchmark, trades higher.
The conflict in the Middle East has intensified into direct state-on-state strikes targeting critical energy infrastructure. On Wednesday, Qatar reported “extensive damage” to its main liquefied natural gas (LNG) facilities after Iranian missile attacks.
Earlier, Iran had vowed retaliation for an Israeli attack on its gas field in South Pars – the world’s largest. The strike marked a significant escalation in the war.
South Pars is the foundation of Iran’s energy supply. According to the US EIA, 85% of the country’s electricity is generated from gas.
Early Thursday, the UAE shut down its own gas facilities after intercepting incoming missiles. Analysts warn that the damage at Ras Laffan could trigger a lasting global gas shortage.
Asia remains particularly vulnerable. The region consumes more than 80% of the oil and gas that passes through the Strait of Hormuz, and most LNG from Qatar and the UAE is destined for Asian markets. There are few alternatives to supply this vast energy need.
Governments across Asia are scrambling to respond. Cambodia is now importing fuel from Malaysia and Singapore as Vietnam and China restrict supplies. Japan has tapped its national oil reserves, while South Korea has capped fuel prices and is shifting toward coal and nuclear power. Energy rationing measures have been implemented across several countries.
On Wednesday, Federal Reserve Chair Jerome Powell said the widening conflict adds new uncertainty to the inflation outlook.
The Fed kept interest rates unchanged, as did the Bank of Japan on Thursday.
This story has been updated to include US EIA attribution
What is the South Pars gas field and why is Israel's attack an escalation?
An Israeli strike on Iranian facilities in the South Pars gas field marked a significant escalation in the war, prompting a furious Iran to attack major energy facilities of its Gulf neighbors, sending oil prices surging, and leading the US President to threaten to “blow up” South Pars if Iran didn’t stop.
But what is the South Pars gas field and why are the strikes so significant?
South Pars is part of the world’s largest natural gas reserve. Iran shares the gas field, which is located offshore in the Persian Gulf, with Qatar which calls its part the North Dome. The entire gas field contains an estimated 1,800 trillion cubic feet of usable gas — enough to supply the world’s needs for 13 years, Reuters news agency reported.
Why so important? Iran’s production of gas from South Pars is the biggest source of its domestic energy supply. Iran has previously suffered power shortages because of disruptions to gas supplies, so any impact would affect its ability to produce electricity and heat homes.
Global concerns: Qatar has pumped billions into developing its side of the gas field and is a major supplier of the world’s LNG. During previous Israeli attacks on Iran in June 2025 that hit parts of South Pars, officials told CNN at the time that the Qatar side was a “vital energy source for the US, Europe and the world.”
“Serious escalation”: Arab countries have condemned attacks on infrastructure linked to South Pars. The UAE called it a “a serious escalation” constituting a direct threat not only to global energy supplies but also to regional security. Qatar called the South Pars strikes a “dangerous and irresponsible step.”
Retaliatory strikes: Iran has struck major energy facilities in the region in retaliation, causing “extensive damage” to Qatar’s main energy hub, the Ras Laffan Industrial City, a key natural gas processing facility. Two refineries in the Saudi Arabian capital Riyadh were also attacked. Saudi Arabia then said it “reserved the right to take military actions” against Iran if deemed necessary.
Energy crisis extended: The world is already facing an energy crunch, with the Strait of Hormuz effectively closed and the strikes jolted markets again, sending global oil prices surging. One analyst told CNN that damaging energy production infrastructure “immediately takes your timeline out further,” as the infrastructure could take months or years to rebuild.
Trump’s threat: US President Donald Trump threatened to “massively blow up” the entire Iranian gas field if if Iran continues attacks on Qatar’s energy facilities. Trump said the US “knew nothing” about the Israeli attack on South Pars. However, two Israeli officials told CNN Wednesday that the strike had been carried out in coordination with the US.
CNN’s Tal Shalev, Nadeen Ebrahim, Aleena Fayaz, Mohammed Tawfeeq, John Towfighi, and Hanna Ziady contributed reporting.
Iranian attacks on Qatari gas facility expected to impact South Asia the hardest
Major South Asian countries may be bracing for power cuts and factory slowdowns soon, as Iranian missile strikes caused “extensive damage” to Qatar’s Ras Laffan Industrial City, which supplies the bulk of liquefied natural gas imports to Pakistan, Bangledesh and India.
Nearly all of Qatar’s natural gas is processed, liquefied and exported at Ras Laffan. Pakistan and Bangladesh import around 99% and 70% of LNG from Qatar, according to Kpler, an industry data firm. India sources over 40% of its LNG from the Gulf state, data from market intelligence firm S&P Global showed.
Nearly three weeks into the Iran war, the conflict has not only effectively shut off a critical oil and gas shipping route – the Strait of Hormuz, but has also now damaged arguably the most important LNG facility in the world.
QatarEnergy, the state-owned petroleum and gas firm and operator of the Ras Laffan facility, suspended the production of LNG and associated products earlier this month. The missile strikes and damage, however, could mean a much longer lead time for the company to restart production to normal volumes.
Both Pakistan and Bangladesh also have limited domestic reserves for LNG – estimated at around one or two weeks, making them particularly vulnerable to this ongoing supply shock. The result could be power cuts and industrial gas supply reduction, according to Kpler.
CNN has reached out to the energy ministries of Pakistan, Bangladesh and India for comment.
In East Asia, Taiwan is also relatively exposed as it sources about one-third of its LNG supply from Qatar, and it holds only 11 days’ worth of reserves. But Taipei said last week it had secured enough supply for March and April, and is working to ensure supply for May.
While Qatar also supplies huge volumes of LNG to China, South Korea and Japan, they are relatively more insulated given their large stockpiles, according to Kpler. China also maintains a diverse LNG supply, allowing flexibility in its imports.
CNN’s Ayushi Shah contributed to reporting.
Trump delivers threat after Iran attacks energy sites across Gulf states. Here's the latest
Nearly three weeks into the Middle East war, Iran is ramping up attacks on critical energy infrastructure in Arab Gulf states, threatening the world’s energy security and causing global oil prices to surge even higher.
US President Donald Trump tried to distance his administration from Israel’s attacks on Iran’s gas fields – but warned that if Iran continued to attack Qatar, the US would completely “blow up” the South Pars field – the world’s largest.
Here’s what to know on Day 20:
- Attacks on Gulf energy: Oil prices surged on Wednesday to $110 per barrel, after attacks on energy infrastructure. Iran hit Qatar’s Ras Laffan natural gas processing facility twice within 12 hours, causing “extensive damage.” And in Abu Dhabi, gas operations at crucial energy sites were temporarily suspended after missile debris fell on the facilities.
- Saudi threat: Saudi Arabia also intercepted drones, including one that had been heading for a gas facility – warning on Thursday that Riyadh “reserved the right to take military actions” against Iran if necessary.
- Trump’s comments: Trump said late Wednesday that Israel had “violently lashed out” at Iran’s South Pars natural gas field, the world’s largest. He claimed he “knew nothing” about Israel’s plans, and vowed that Israel would not attack the site again unless provoked.
- Continuing strikes: Israel said it had struck 200 targets across western and central Iran on Wednesday, including military infrastructure. Israel also said early Thursday it was intercepting missiles launched from Iran, with one foreign national killed by shrapnel in the southern Sharon region. And in the Israeli-occupied West Bank, at least three women were killed after rocket fragments struck a hair salon, which the Israeli military said was caused by Iranian cluster munitions.
- Two ships hit: Unknown projectiles hit two vessels in separate incidents in and around the Persian Gulf early Thursday, according to the UK’s maritime agency. More than 20 oil tankers, cargo ships and other vessels have reported incidents in and around the Persian Gulf, Strait of Hormuz and Gulf of Oman since the war began, according to the agency.
Vessel reportedly struck near Ras Laffan, UKMTO says
A vessel has been reported hit by an “unknown projectile” early Thursday near Ras Laffan, Qatar, the UK Maritime Trade Operations (UKMTO) said.
The vessel was reportedly struck 4 nautical miles east of Ras Laffan, the energy hub which has been repeatedly attacked by Iran in the past 12 hours, causing extensive damage, according to Qatari authorities.
All crew are safe and well, the UKMTO said.
This is the second report of a vessel hit in or near the Persian Gulf overnight. A vessel was reportedly struck off the coast of the United Arab Emirates near the Strait of Hormuz late Wednesday, according to the UKMTO, which has responsibility for the region.
More than 20 oil tankers, cargo ships and other vessels have reported incidents in and around the Arabian Gulf, Strait of Hormuz and Gulf of Oman since the war began, according to previous UKMTO figures.
Trump threatens to "blow up" world's largest gas field if Iran continues attacks on Qatar
President Donald Trump tonight threatened to “massively blow up” the world’s largest gas field, South Pars in Iran, if the nation continues attacks on Qatar in retaliation for an Israeli strike on the gas field.
“Israel, out of anger for what has taken place in the Middle East, has violently lashed out at a major facility known as South Pars Gas Field in Iran,” Trump posted on Truth Social.
“The United States knew nothing about this particular attack,” he said, adding that Qatar was similarly unaware. “Unfortunately, Iran did not know this, or any of the pertinent facts pertaining to the South Pars attack, and unjustifiably and unfairly attacked a portion of Qatar’s LNG Gas facility.”
Trump said Israel would not attack the gas field again unless Iran strikes an innocent party, “in which instance,” he said, “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 at an amount of strength and power that Iran has never seen or witnessed before.”
Some context: Iran’s Islamic Revolutionary Guard Corps (IRGC) on Wednesday accused the US and Israel of targeting its oil and gas facilities, including the South Pars natural gas field, the world’s largest.
Iran struck the Ras Laffan Industrial City, Qatar’s main energy hub, with ballistic missiles hours after an earlier attack, the Qatari Ministry of Defense said early Thursday. State-owned QatarEnergy said the hub sustained extensive damage after the attacks.
Fresh attacks on world’s largest LNG plant as strikes continue across the region Thursday morning
Iran carried out fresh strikes on a major gas hub in Qatar Thursday morning local time, causing extensive damage, as countries around the Middle East reported continued missile and drone attacks.
The attacks come after Iran struck energy infrastructure in Persian Gulf countries causing a surge in already high global oil prices.
Here’s what you need to know.
Qatar’s main energy hub, the Ras Laffan Industrial City, sustained “extensive damage” after being attacked twice by Iranian missiles in 12 hours. Emergency responders were dealing with fires at the facility, the world’s largest LNG plant. The ministry of defense said the site was hit by ballistic missiles.
In the United Arab Emirates, gas operations at crucial energy sites in Abu Dhabi were temporarily suspended after debris from intercepted missiles fell on the facilities, according to the Abu Dhabi Media Office. And a vessel was struck by an “unknown projectile” causing a fire off the UAE’s east coast, the UKMTO said.
Saudi Arabia intercepted and destroyed more than a dozen drones in the eastern parts of the country, according to the defense ministry, which added that some of those were intercepted near the capital Riyadh.
Israel was attacked by several waves of Iranian missiles and drones, and Hezbollah launched simultaneous strikes from Lebanon, according to Iran’s semi-official Fars news agency. The Israeli military said it had identified missiles launched from Iran in the north. Hours earlier, Israeli police and rescue teams responded to the site of an Iranian missile attack in Tel Aviv, police said, adding that no injuries or casualties were reported.
Bahrain’s interior ministry said sirens had sounded on two separate occasions and urged citizens to “head to the nearest safe place.”
The Iranian Red Crescent Society posted video showing relief workers responding to what it said was an airstrike on a residential area in Tehran. Meanwhile, the fallout continues after Iranian facilities in the South Pars natural gas field were targeted on Wednesday.
Foreign ministers of 12 Arab and Islamic states call on Iran to stop strikes
The foreign ministers of 12 Arab and Islamic states called on Iran to “immediately halt its attacks” and respect international law, in a joint statement released Thursday after their meeting in the Saudi capital Riyadh.
In the statement, the ministers denounced Iran’s attacks on the Gulf states, Jordan, Azerbaijan and Turkey, which they said had targeted “residential areas, civilian infrastructure, including oil facilities, desalination plants, airports, residential buildings and diplomatic premises.”
The ministers also condemned Israel’s attacks on Lebanon and “reaffirmed support for the security, stability and territorial integrity of Lebanon.”
The joint statement came as Iran targeted energy infrastructure across the Gulf, with fires reported at facilities in Qatar and ballistic missiles intercepted in Saudi Arabia.
Earlier, Iranian state media accused the US and Israel of attacking parts of its oil and natural gas production facilities.
The statement was issued on behalf of ministers representing Azerbaijan, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Pakistan, Qatar, Saudi Arabia, Syria, Turkey and the United Arab Emirates.
Ex-Trump Administration Iran negotiator warns war is backfiring
CNN’s Erin Burnett speaks to a former member of the Trump Administration’s Iran negotiating team Nate Swanson about his warnings of how Iran would retaliate in the event of US military action.
Asian markets slide as attacks on energy facilities send oil prices surging
Asian stock benchmarks declined on early Thursday as Iran struck major energy facilities in the Middle East, sending oil prices above $110 per barrel.
Japan’s benchmark Nikkei 225 index sank 2.7% in early trading, while South Korea’s Kospi lost 2.6%. Hong Kong’s Hang Sang index dropped 1.4%, and Taiwan’s Taiex was down 1.4%.
Kuwaitis prep for Eid amid Iranian attacks
With Eid set to take place in the next couple of days, Muslims in Kuwait are making preparations to celebrate the occasion, as the country continues to be attacked by Iran.
Nic Robertson spoke to Kuwaitis about how they plan to spend the festival this year amid the ongoing war in the region. You can watch this in the video above.
Gulf states warn attacks on energy facilities threaten global security
Arab countries on the Persian Gulf warned today that attacks on energy infrastructure linked to Iran’s South Pars natural gas field pose a serious threat to global energy security and regional stability.
Tehran accused the United States and Israel earlier Wednesday of attacking parts of Iran’s oil and natural gas production facilities, including the South Pars natural gas field, the world’s largest.
The United Arab Emirates’ Foreign Ministry stressed in a statement that “targeting energy facilities linked to the South Pars field in the Islamic Republic of Iran — an extension of Qatar’s North Field — represents a serious escalation.”
The ministry said targeting energy infrastructure constitutes a direct threat not only to global energy supplies but also to regional security. It warned of potential environmental damage and risks to civilians, maritime navigation and critical industrial facilities.
The UAE called for strict adherence to international law and urged all parties to avoid targeting vital infrastructure under any circumstances, emphasizing the need to preserve stability in the region.
Qatar’s Foreign Ministry spokesperson, Majed al-Ansari, described the reported targeting of facilities linked to South Pars as a “dangerous and irresponsible step amid the current military escalation in the region.”
He warned that such actions threaten not only energy security but also the environment and the safety of populations across the region, and he reiterated calls for restraint and de-escalation.
Iran’s parliament speaker, Mohammad Bagher Ghalibaf, said today that an enemy attack on Iranian oil infrastructure “means suicide for them.” In a post on X, he added that “the equation of an eye for an eye is in place, and a new level of conflict has begun.”
