CONFLICT
U.S. discussing possible Israeli strikes on Iran oil facilities
October 4, 2024 - President Joe Biden has indicated that the U.S. is discussing the possibility of an Israeli attack on Iran’s oil infrastructure as a response to Tehran’s missile offensive on October 1.
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Oil analysts and security experts have said Israel could target Iran’s oil refining sites and the Kharg Island oil port, which handles around 90% of the country’s crude exports.
Hitting Iran's petroleum industry would hurt its economy. Such an attack could provoke Iran in turn to strike oil production facilities in Saudi Arabia and other Gulf Arab states. That could send the price of fuel, always a major U.S. campaign issue, soaring before Americans pick a new president and Congress in the Nov 5 elections.
- OPEC+ could cushion Iran oil shock but not broader disruption (Reuters)
- Here’s a Map of Iran’s Most Critical Oil and Gas Infrastructure (Bloomberg)
- Israel may target Iran's oil refineries as Middle East braces for retaliation: report (S&P Global)
- The Strait of Hormuz is the world's most important oil transit chokepoint (EIA)