19. March 2026
Energy Prices Soar After Trump Threatens to ‘Destroy’ World’s Largest Gas Field; Consumers Brace for Impact
WASHINGTON-- Escalating attacks on critical energy infrastructure across the Middle East are intensifying global concerns about supply disruptions, as oil and gas prices surge and military tensions widen across the region.
Iran has expanded strikes on energy facilities in neighboring Gulf states, including a key site in Qatar, in retaliation for an Israeli attack on South Pars, the world’s largest natural gas field. The widening conflict has rattled global markets, pushing energy prices higher and deepening an already strained supply outlook.
President Donald Trump warned that the United States would respond forcefully if Iran continues targeting Gulf infrastructure. He said there would be no further attacks on South Pars unless Iran strikes Qatar again, adding that the U.S. would “massively blow up the entirety” of the gas field if such an attack occurs. Trump also said the United States had no prior knowledge of Israel’s strike on South Pars, though a senior official close to Qatar’s leadership disputed that account.
The growing instability has prompted urgent discussions among global leaders. European officials said they are prepared to support efforts to reopen the Strait of Hormuz, a critical shipping route that Iran has targeted in recent days. Attacks on vessels in the strait have effectively disrupted one of the world’s most important energy corridors.
In Washington, Treasury Secretary Scott Bessent has floated the possibility of easing sanctions on Iranian oil currently stranded on tankers, a move aimed at stabilizing global supply amid the escalating crisis.
Military activity in the region has also intensified. A U.S. F-35 fighter jet made an emergency landing following what officials described as suspected enemy fire. Iranian authorities claimed responsibility, saying the aircraft had been struck while flying over Iranian airspace.
The U.S. military, meanwhile, said it carried out strikes on Iranian missile sites along the Strait of Hormuz. Iran’s parliament speaker signaled a prolonged disruption to the waterway, warning it would not return to normal conditions anytime soon.
As the conflict expands, the human toll continues to rise. More than 2,000 people have been killed across the region, according to officials. In Iran, over 1,200 people have died from Israeli and U.S. strikes, according to the Iranian Red Crescent Society. At least 850 people have been killed in Lebanon, while 13 deaths have been reported in Israel. The United States has lost 13 service members in the conflict, with two additional deaths attributed to noncombat causes.
Separately, the FBI has opened an investigation into Joe Kent, a former senior U.S. intelligence official who resigned in protest over the war. The Trump administration has accused Kent of leaking classified information, although no evidence has been presented to support its claims.
The rapidly evolving conflict continues to roil global markets and raises fears of a broader regional war, with energy infrastructure and key shipping routes increasingly at risk.
Meanwhile, a US F-35 fighter jet made an emergency landing at US air base in the Middle East after it was struck by what is believed to be Iranian fire, according to Pentagon sources familiar with the matter.
Capt. Tim Hawkins, a spokesperson for US Central Command, said the fifth-generation stealth jet was “flying a combat mission over Iran” when it was forced to make an emergency landing. Hawkins said the aircraft landed without further incident..
“The aircraft landed safely, and the pilot is in stable condition,” Hawkins added. “This incident is under investigation.”