The Globe and Mail reports in its Monday, June 16, edition that the conflict between Israel and Iran intensified as Iranian officials accused Israeli drones of attacking the South Pars natural gas field and a refinery, sparking fires. A New York Times dispatch to The Globe reports that this raises concerns about energy supplies from the Middle East. As well, Iran's energy infrastructure is vital for its economy and domestic needs. It is unclear how far Israel plans to escalate its attacks on these facilities. Other Iranian installations are at risk, analysts say. Israel's energy system also looks exposed, analysts say, which could potentially restrain its attacks. Were fighting to escalate to major energy installations across the region, the consequences could be serious not only for Iran and its neighbours but for their customers, especially in Asia, and world markets. Any escalation that might appear to threaten international supplies could send prices soaring. Kpler has estimated that 21 per cent of the world's liquefied natural gas, most of it from Qatar, flowed through this gauntlet in 2024. A hefty 14 million barrels of crude oil a day also moves through the strait, according to Kpler's estimates.
© 2025 Canjex Publishing Ltd. All rights reserved.