US-Israeli Strikes Hit Iran’s Crown Jewel South Pars Gas Field in Major Escalation
On March 18, 2026, Israeli forces, with coordination and approval from the US administration, struck processing facilities at Iran’s South Pars field—the world’s largest natural gas reserve and crown jewel of its energy sector, shared with Qatar.
Iranian state media reported damage to multiple gas treatment plants in Asaluyeh, with fires reported and several phases taken offline. The strikes mark the first direct hit on Iran’s most valuable upstream energy infrastructure since the conflict began.
Qatar condemned the action as dangerous and irresponsible, noting risks to shared resources and global energy security. Iran has threatened retaliation against Gulf energy sites, raising concerns over potential further disruption in the Strait of Hormuz.
Oil prices surged, with Brent crude climbing above $105 amid market unease. The move follows Iran’s earlier attacks on regional energy targets and comes as both sides intensify pressure on critical economic assets.
The strikes aim to degrade Iran’s ability to fund ongoing aggression, but carry clear risks of broader economic fallout across global gas and oil markets.