Iran War News LIVE Update: Saudi Arabia has said that pressure on Iran will fail politically, morally, and we definitely reserve the right to take military action if deemed necessary, according to Reuters.
What happened in the last hours?
- The Saudi foreign minister further noted that Iran did not deal with its neighbors in a spirit of brotherhood, but with a “hostile look,” Reuters reported.
- Qatar’s state energy company QatarEnergy said on Wednesday that Iranian missile attacks on Ras Laffan, home to the country’s main LNG processing hub, had caused significant damage, Reuters reported.
- The United Arab Emirates temporarily shut down gas facilities after intercepting incoming missiles early Thursday.
- Kuwait’s Ministry of Information announced early Thursday that the country’s largest mosque in Kuwait City, which usually hosts thousands of worshipers during major prayers, will remain closed for Eid al-Fitr due to “current circumstances.”
- The Speaker of the US House of Representatives, Mike Johnson, insisted that the US operation in Iran is almost finished. He still refused to call it a war, but admitted that the situation in the Strait of Hormuz was “dragging it out a bit”.
The development followed Iran’s warning to evacuate several oil and gas fields in Saudi Arabia, the United Arab Emirates and Qatar, issued shortly before the launch of retaliatory strikes in response to earlier strikes on its own energy infrastructure in South Pars and Asaluyeh, Reuters reported.
How do oil prices react to a war in the Middle East?
Meanwhile, the ongoing US-Israel conflict with Iran is intensifying pressure on the region’s energy sector, with global oil prices jumping another 5% to surpass $108 a barrel. This increase increases the cost of fuel and puts additional pressure on the global economy.
Prices rose further after news of an attack on the Pars gas field raised fears of possible Iranian retaliation against Gulf energy infrastructure.
Since the start of the conflict on February 28, Iran has targeted energy facilities in the Gulf states, effectively disrupting the Strait of Hormuz, a key route that carries around one-fifth of global oil supplies.
At the same time, Iran and Hezbollah continued to launch drones and missiles at Israel.
The Iran-US War: Casualties So Far
The conflict claimed heavy casualties, with at least 1,300 dead in Iran, over 960 in Lebanon and 14 in Israel.
The US military also confirmed the death of 13 personnel, with around 200 others injured.
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