Iranian media reported attacks on facilities at the South Pars natural gas field on Monday. Reports blamed the United States and Israel for the strikes on the world's largest natural gas field. This incident marks a major escalation in a conflict that has already restricted shipping through the Strait of Hormuz.
President Trump previously warned of strikes on Iranian infrastructure if the Strait of Hormuz remained closed. Brent crude oil rose to $109 per barrel in early Monday trading following the reports. The price surge reflects growing fears that a wider conflict will further endanger global energy supplies.