Well, US president Trump continued to say that the war is very much following a timely schedule. And that this will all be over in a matter of "weeks". Yet, the escalation in the conflict this week suggests that we're still not really seeing things wind down. That especially as Iran continues to have the capacity to inflict damage across the region.
Israel took a bold step in striking the South Pars gas field, which accounts for nearly three-quarter of Iran's gas. Since then, Tehran has responded quite fervently and here's a quick rundown of how they have responded:
| Location of Facility | Significance to Energy Market | Status |
| Qatar (Ras Laffan) | World's largest LNG hub, providing 20% of global supply (big impact to Europe gas prices) | Extensive damage reported, exports suspended for now |
| Qatar (Pearl GTL) | World's largest gas-to-liquids plant | Operations halted after direct hits to the facility |
| Saudi Arabia (SAMREF) | Major oil refinery (~400k bpd) that transits through Red Sea, bypassing the Strait of Hormuz | Damaged but minimal impact reported |
| Kuwait (Mina Al-Ahmadi) | Major oil export hub (~340k bpd), particularly to Asia | Light damage but total production has been reduced |
| Kuwait (Mina Abdullah) | Key facility specialising in diesel and jet fuel (~450k bpd), added impact to Europe by driving up fuel prices at the pump and for airlines | Partial shutdown reported with production being scaled back |
| UAE (Al-Hosn) | Key facility in providing sulfur (5% of global supply), critical for the fertilisers market i.e. food security | Suspended as a precautionary measure after Iranian threat |
| UAE (Habshan) | A key facility complex that powers the UAE's desalination and grid, basically threatening the Gulf region's infrastructure | Full suspension after being struck by missile debris, in essence a safety shutdown |
From the attacks, it is clear that Iran also has specific targets that they are aiming at. And it is not just isolated to key energy facilities. They also want to bring the pain from "big energy" all the way down to the everyday consumer. That in hopes of Gulf countries and European allies pushing for the US and Israel to de-escalate the situation.
