Iran Strikes Gulf Energy Sites as Global Stocks Plunge
The ongoing conflict between Iran and its neighboring countries has escalated, drawing in several Arab nations directly into the war. On Friday, heavy explosions shook Dubai early in the morning as air defenses intercepted incoming fire over the city. This occurred during Eid al-Fitr, the celebration marking the end of the holy Muslim fasting month of Ramadan.
Bahrain’s Interior Ministry reported a fire that erupted on Friday morning after shrapnel fell on a warehouse in the island kingdom. Meanwhile, Kuwait stated it was working to intercept incoming Iranian fire. Saudi Arabia also reported shooting down multiple Iranian drones targeting its oil-rich Eastern Province.
In another development, Israel launched airstrikes against the Iranian capital, Tehran, on Friday morning. Activists reported hearing the sounds of the strikes around the city as Iranians celebrated Nowruz, the Persian New Year.
These attacks followed Israel’s previous day’s pledge to refrain from further strikes on a key Iranian gas field. However, Iran continued its wave of attacks on oil and gas facilities throughout the Gulf, causing millions of people to seek shelter and sending shockwaves through the global economy.
The price of Brent crude oil, which serves as the international standard, has seen a sharp increase since the war between Israel and the U.S. began with Iran. Additionally, the death toll from Israeli strikes in Lebanon surpassed 1,000 people on Thursday during renewed fighting with the militant group Hezbollah.
Kuwait confirmed that its Mina Al-Ahmadi oil refinery was hit by Iranian drones on Friday, sparking fires at several of its units. This marked the second attack on the refinery within a span of days. Firefighters were working to control the blazes, and there were no immediate injuries reported from the attack.
The Iranian assault took place as Kuwait observed Eid al-Fitr, the celebration of the end of Ramadan. The Mina Al-Ahmadi refinery is capable of processing up to 730,000 barrels of oil per day and is one of three major oil refineries in Kuwait, a small but oil-rich nation located on the Persian Gulf.
The Kuwait Petroleum Corporation announced that it had shut down the units affected by the attack. As a result, Kuwait has been unable to export its oil due to the ongoing conflict, as the country relies on shipping its oil through the Persian Gulf and the Strait of Hormuz—both of which have become prime targets for Iranian attacks.
Shrapnel sparks fire in Bahrain, Saudi Arabia destroys drones
Bahrain’s Interior Ministry reported that a fire broke out on Friday morning after shrapnel fell on a warehouse in the island kingdom. Firefighters were on the scene trying to contain the blaze, according to officials.
Saudi Arabia also reported successfully shooting down multiple Iranian drones that were targeting its oil-rich Eastern Province on Friday morning.
Explosions shake Dubai
Heavy explosions rocked Dubai in the United Arab Emirates early on Friday as air defenses intercepted incoming fire over the city. A missile alert was issued before the strike, with authorities activating air defenses to counter an Iranian barrage.
The Dubai Media Office, which serves as the government’s communication arm, stated, “Authorities in Dubai confirm the success of all air interception operations, with no injuries reported.”
This incident occurred as the UAE celebrated Eid al-Fitr, with mosques making the day’s first call to prayers.
Kuwait also confirmed on Friday morning that it had worked to intercept incoming Iranian fire.
Iranians mark Nowruz under early morning airstrikes
Iranians celebrated Nowruz, or the Persian New Year, early on Friday morning as airstrikes began. Israel’s military announced very early on Friday that it had initiated strikes against Tehran.
Activists reported hearing the strikes around Tehran following Israel’s announcement of a new wave of attacks. This came after an intense day of Iranian missile strikes targeting Israel, with more than a dozen launches reported on Thursday alone by Israel’s military.
