Iranian media reported attacks on facilities at the South Pars natural gas field on Monday. The reports blamed the United States and Israel for the strikes. South Pars is the world's largest natural gas field.
Brent crude oil rose to $109 per barrel during early trading. This price movement reflects heightening fears of a wider conflict.
The incident follows President Trump's warning of strikes on Iranian infrastructure if the Strait of Hormuz remained closed. Ongoing conflict has already severely restricted shipping through the critical waterway.