Following missile attacks targeting Riyadh, the kingdom signaled it may resort to military action if Iran does not halt its aggression, marking a dangerous new phase in the escalating regional conflict.
Iranian lawmakers have proposed a plan to impose tolls and taxes on ships passing through the strategic Strait of Hormuz, local media reported on Thursday.
Oil prices soared 10 percent Thursday after Qatar reported "extensive" damage to the world's largest liquefied natural gas (LNG) facility following Iranian strikes, sparking fears for global energy supplies.
Iran missile barrage hits Qatar’s Ras Laffan Industrial City, disrupts global gas supply. The escalation follows Israeli strikes on Iran’s South Pars field, intensifying a conflict that now threatens global energy supplies and risks triggering a prolonged economic shock.
The Qatari Foreign Ministry has condemned Israel’s attack on Iran’s South Pars gas field, which is jointly operated by Iran and Qatar. The ministry said that strikes on Pars constitute “a threat to global energy security.”
President Donald Trump issued a stark warning, threatening overwhelming retaliation if Iran escalates further. With energy infrastructure under fire and the Strait of Hormuz at risk, global oil and gas markets are facing unprecedented disruption.