Iran and Qatar accused Israel of attacking the South Pars gas field, a massive offshore energy complex shared by the two nations. The strike damaged Iranian facilities and sent global oil prices surging over 6% to above $109 a barrel. Natural gas prices also jumped about 6% in Europe as investors worried about regional escalation.

Iran's oil ministry confirmed airstrikes hit South Pars infrastructure, which accounts for 70-75% of Iran's natural gas production. Most of this fuel is consumed domestically due to Western sanctions limiting international trade. The attacks mark a significant escalation in the U.S.-Israeli air campaign against Iran, which began nearly three weeks ago. Iranian state media reported additional strikes on petrochemical facilities in Asaluyeh, a key energy hub.

The South Pars field represents about one-third of the world's largest natural gas reserve, stretching from Qatar toward Iran. Qatar, the world's third-largest liquefied natural gas exporter, condemned the attacks as a "dangerous and irresponsible step" that threatens global energy security. Iran threatened retaliation against U.S. allies in the Persian Gulf, warning citizens to avoid major oil and gas facilities.