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Iran's South Pars Gas Field Is Attacked by Israel, Sending Energy Prices Soaring

https://www.nytimes.com/2026/03/18/world/middleeast/israel-strikes-south-pars-gas-oil-prices.html
34•spaghetdefects•1h ago

Comments

newspaper1•1h ago
If you were wondering why your company’s stock is dropping, here’s the reason. I’m so sick of the entire world being punished so the Israel colony of terror can continue to exist. At what point do we collectively say enough is enough? I’m American and would absolutely support military action against Israel. In fact, it’s imperative that we do that sooner rather than later.
spamizbad•1h ago
Sorry but this is on the United States. Israel's government has been wanting a show down with Iran for a while but we've typically functioned as the adult in the room to keep the piece - obviously that changed with Biden and now Trump, but Americans own this one.
newspaper1•52m ago
I agree but it’s also on Israel. It was Israel that just bombed this gas field.
SirFatty•34m ago
Actually, it's on Iran.
ramesh31•51m ago
A post-IRGC Iran is the single key to peace in the middle east. With Iraq neutralized, the Saudis and Emiratis firmly in the global order, Lebanon subdued by Israel, and Syria at least under (ostensibly) friendly control, Iran is the final piece of the puzzle. Like it or not, the world will be a safer place if the US succeeds here.
just-the-wrk•1h ago
I suspect I am financing this, both directly and indirectly, and I don't feel as though these actions represent my values or interests.
dh2022•1h ago
This feeling you have is representative democracy in action.
Gud•10m ago
There is nothing democratic about the USA.

The sooner the American public realises this it can work towards building institutions not controlled by the rich and powerful.

ZunarJ5•1m ago
https://iranwarcost.com/
ajay-b•1h ago
Interesting, who purchases Iranian oil given the sanctions? Ostensibly it would be those that would see the price increases?
bdangubic•1h ago
econ 101 - supply and demand…
drdec•1h ago
Those who were purchasing it need to go to the global market instead, increasing overall demand on that market
thatswrong0•1h ago
China buys 80% of Iran's shipped oil. But this affects the prices of pretty much anyone who imports oil - if China can't get oil from Iran, they'll purchase it from someone else. Less supply => higher prices for everyone.
maxglute•58m ago
It also affects China less, they have huge strategic reserve, and massive coal to petchem industry that only becomes economic after $80 barrel. AKA all other big industrial players are energy exporters who has pay spot price. High oil price = PRC competitive advantage on top of being able to brrrt EVs / batteries to displace oil.
nickff•1h ago
China is by far the largest customer for Iranian oil, with 'teapot' refiners being a very large proportion of that: https://www.reuters.com/article/idUSLDE63A01120100413/?pageN...
wat10000•1h ago
Prices are about the future, not the present. Even if this didn't immediately effect anything, it could signal that other energy infrastructure is a potential target, or merely that the war is going to last longer.
OgsyedIE•1h ago
China has been buying Iranian crude and gas for many years, mostly due to simply needing as much as they can get.

The eleven tankers that have so far transited the Strait of Hormuz after the 3rd without being fired upon are all owned by, operated by and delivering to Chinese state-owned companies (AFAIK). The Iranians know they are transiting and are deliberately refraining from shooting, because of the Chinese information support, such as the Mizar-run near-realtime satellite geolocation of parked US aircraft and radars for attack.

This bit I'm adding is speculation but the likely role of the Marine detachment aboard the USS Tripoli which is currently being sent to the Gulf of Oman is to start sinking these China-bound tankers so as to use the offer of not sinking them to coerce China into supporting the reopening of rhe Strait.

iammjm•1h ago
They are setting the world on fire and we will all pay the price
karmakurtisaani•18m ago
But for a brief beautiful moment they owned the libs. And distracted us from the fact they are pedophiles and rapists.
ZunarJ5•1h ago
This didn't have to happen. The world is less safe now because America loves bombing brown people more than it loves its own children.
howard941•55m ago
You've turned Golda Meir's quote on its head. Congratulations are in order I guess.
mrguyorama•45m ago
Even better, the people who voted for this insist that this is what Kamala was going to do! Which is why they had to vote against her!

We got a broken and incompetent government because tens of millions of dumbasses apparently don't understand that lies exist, and that the guy who lies to your face every day will lie to your face!

SirFatty•36m ago
"This didn't have to happen."

True, we should just sit back and let Iran finish building it's arsenal of nuclear weapons, continue with their terrorism funding campaigns and killing of their own citizens.

The only thing that should be different is that the US should have done this years ago.

karmakurtisaani•17m ago
Bombing girl schools is just that better kind of terrorism.
ZunarJ5•11m ago
A KGB spy and a CIA agent meet up in a bar for a friendly drink. "I have to admit, I'm always so impressed by Soviet propaganda. You really know how to get people worked up," the CIA agent says.

"Thank you," the KGB says. "We do our best but truly, it's nothing compared to American propaganda. Your people believe everything your state media tells them."

The CIA agent drops his drink in shock and disgust. "Thank you friend, but you must be confused... There's no propaganda in America."

howard941•57m ago
I'm not sure why the US has refrained from lasing these optical recon birds. Is it a fear of escalation? How many have to die before it happens?

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