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Israel intensifies Tehran strikes as Iran retaliates, raising global energy fears

Obah Sylva by Obah Sylva
March 20, 2026
in News
Reading Time: 3 mins read
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Kuwait Refinery on fire after Drone attack as Iran strikes escalate, Oil prices surge
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Israel launched a fresh wave of airstrikes on Tehran on Friday, escalating tensions in the Middle East as Prime Minister Benjamin Netanyahu declared that Iran was being “decimated” amid a widening regional conflict.

The Iranian capital has come under near-daily bombardment since a joint United States and Israeli offensive began on February 28. The Israeli military said the latest strikes were aimed at “infrastructure of the Iranian terror regime,” as the war enters its fourth week.

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Speaking at a press conference, Netanyahu claimed the offensive had significantly weakened Iran’s ability to enrich uranium and produce ballistic missiles, insisting that Israel was gaining the upper hand.
“We are winning and Iran is being decimated,” he said.

Despite the sustained attacks, Iran has continued retaliatory strikes across Israel and the Gulf, targeting critical oil and gas facilities and heightening fears of a global energy supply disruption.

Explosions were reported over Jerusalem on Thursday night after Israel detected multiple waves of Iranian missile launches. No casualties were recorded. Meanwhile, the United Arab Emirates and Kuwait confirmed missile attacks, and Saudi Arabia said it intercepted more than a dozen drones early Friday, as the region marked Eid al-Fitr.

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  • Israel kills Iran’s security chief Ali Larijani in strike

The conflict has also spread into Lebanon, where Israeli forces have carried out repeated airstrikes in response to rocket fire from Hezbollah. Lebanese authorities report that more than 1,000 people have been killed in strikes across southern and eastern regions, including Beirut and its suburbs.
Lebanese President Joseph Aoun renewed calls for a ceasefire during talks with French Foreign Minister Jean-Noël Barrot, urging diplomatic efforts to halt hostilities between Israel and Hezbollah.

Netanyahu, whose domestic approval ratings have risen amid the conflict, suggested the war could end sooner than expected, though he offered no timeline. He also claimed Israel had identified “cracks” within Iran’s leadership and was seeking to exploit them.

Tensions have sharply affected global energy markets. Iranian strikes on Qatar’s Ras Laffan gas complex caused extensive damage, with officials warning of billions in potential losses and years of repair work. Iran has also threatened further escalation, including disruptions to the Strait of Hormuz, a critical passage for global oil and gas supplies.

Oil prices have climbed to around $100 per barrel, while gas prices surged amid fears of prolonged supply shortages. However, markets showed slight relief on Friday following Netanyahu’s suggestion that the conflict may conclude sooner than anticipated.

Iran’s Revolutionary Guards said they had also targeted United States forces at the UAE’s Al-Dhafra air base. In Kuwait, drone strikes triggered a fire at the Mina Al-Ahmadi refinery, forcing partial shutdowns as emergency crews worked to contain the damage.

Civilians across the region are bearing the brunt of the crisis. In Beirut, residents marked Ramadan’s end under difficult conditions, with many displaced families struggling amid rising costs and uncertainty.

“There’s nothing to celebrate,” said Aziza Ahmad, who cancelled traditional festivities due to the worsening situation.

Meanwhile, Iran observed the Nowruz spring festival alongside the final days of Ramadan, with state media confirming that Eid celebrations would begin on Saturday.

U.S. President Donald Trump said Washington had coordinated broadly with Israel but did not approve all military actions, including the recent strike on Iran’s South Pars gas field. He warned that further escalation could trigger a stronger American response, though no ground troop deployment is currently planned.

French President Emmanuel Macron said discussions were underway with United Nations Security Council members to secure navigation through the Strait of Hormuz once hostilities subside.

Pentagon chief Pete Hegseth acknowledged that there was no clear end in sight for the war, noting that any resolution would depend on strategic objectives set by Washington.

SEO Keywords: Israel Iran war

Synonmy: Tehran airstrikes, Benjamin Netanyahu Iran, Middle East conflict 2026, Iran missile attacks Gulf, global oil prices surge, Strait of Hormuz crisis, Lebanon Hezbollah Israel war, Ras Laffan gas attack, US Israel Iran tensions

Tags: Benjamin Netanyahu Iranglobal oil prices surgeIran missile attacks GulfLebanon Hezbollah Israel warMiddle East conflict 2026Ras Laffan gas attackStrait of Hormuz crisisTehran airstrikesUS Israel Iran tensions
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