Thursday, March 19, 2026

"Gas field strike was Israel's doing" says U.S. as it distances itself, warns of action within 48 hours amid oil price surge

Input
2026-03-19 09:58:59
Updated
2026-03-19 09:58:59
U.S. President Donald Trump. AP/Newsis
According to The Financial News, operations at the Islamic Republic of Iran's largest gas field were halted on the 18th (local time) after an airstrike, jolting global energy markets. The United States of America (U.S.) moved quickly to draw a line under the incident, stating it was not involved in the attack, while also signaling that it will soon unveil additional measures in response to the sharp rise in oil prices.
Cable News Network (CNN) reported the same day, citing U.S. officials, that the U.S. did not carry out the strike. The Associated Press (AP) likewise quoted sources as saying that "the United States was informed of Israel's plan to attack the gas field but did not take part in the operation."
Earlier, Iranian state television reported that "Blocks 3, 4, 5 and 6 of the South Pars gas field were attacked by the U.S. and Israel," adding that fires broke out at the sites and forced a shutdown of production. This is the first time since the start of the current war that an energy production facility in the Islamic Republic of Iran has been hit. The Islamic Revolutionary Guard Corps of Iran (IRGC) immediately warned that it would retaliate "by attacking energy facilities in the Kingdom of Saudi Arabia (KSA), the United Arab Emirates (UAE) and Qatar," urging those facilities to evacuate at once.
With the Islamic Republic of Iran's largest gas field under bombardment and Tehran threatening to strike neighboring Gulf states' energy infrastructure in response, international oil prices spiked. On ICE Futures Europe in London, United Kingdom, May futures for Brent Crude Oil, the global benchmark, jumped as much as 6.1% from the previous session to settle at $109.75 per barrel. As of 11 a.m., April futures for West Texas Intermediate crude oil (WTI) on the New York Mercantile Exchange (NYMEX) were trading at $98.60, up 2.48%.
As oil prices once again traced a steep upward curve, the U.S. government signaled it would roll out countermeasures within a day or two. According to British media, U.S. Vice President JD Vance said in a speech in the State of Michigan that the administration would "announce a couple of measures within the next 24 to 48 hours" to address the problem of rising oil prices.
whywani@fnnews.com Hong Chae-wan Reporter