WASHINGTON (AP) —President Donald Trump pledged the U.S. would “massively blow up the entirety” of the world’s largest gas field if Iran attacks Qatar again.
Trump made his threat on social media Wednesday night against Iran’s South Pars natural gas field after Iranian missiles hit Qatar. The Iranian attack was in retaliation for an Israeli attack on the South Pars field earlier Wednesday.
The U.S.-Israeli war with Iran has roiled energy markets as the conflict escalates pressure on the region’s energy sector. The price of oil has surged on international markets, increasing the cost of gasoline and other goods while squeezing the global economy.
Global oil prices rose on news of the South Pars attack due to fears of Iranian retaliation on Gulf energy infrastructure.
Trump said in his post that the U.S. “knew nothing” about the attack, but a person familiar with the matter said earlier Wednesday that the U.S. was informed about Israel’s plans to strike the gas field but did not take part.
Hours after the attack on the field, authorities in Qatar said a ballistic missile hit the country’s key natural gas site, sparking a fire that caused “extensive” damage, and Qatar ordered some Iranian Embassy officials out of the country.
Iran has been striking its Persian Gulf neighbors’ energy facilities since the war started Feb. 28 and has made the Strait of Hormuz shipping channel, through which one-fifth of the world’s oil travels, nearly impassable. Iran and Hezbollah also have been firing drones and missiles at Israel.
Global oil and natural gas prices soar
Global oil and natural gas prices soared Wednesday after Iran attacked a key natural gas facility in Qatar that can supply one-fifth of the world’s gas and two oil refineries in Kuwait.
The attacks raised fears that the global energy crisis trigged by the closure of the Strait of Hormuz to tanker traffic would be longer and more extensive than feared, with lasting damage to oil and gas productions.
International benchmark Brent crude rose to near $114 per barrel, up from under $73 per barrel on the eve of the war.
The European TTF benchmark for natural gas prices traded 24% higher on Thursday.