{"id":24900,"date":"2026-03-20T14:06:51","date_gmt":"2026-03-20T14:06:51","guid":{"rendered":"https:\/\/readtrends.com\/en\/oil-110-israel-strike-iran-nowruz\/"},"modified":"2026-03-20T14:06:51","modified_gmt":"2026-03-20T14:06:51","slug":"oil-110-israel-strike-iran-nowruz","status":"publish","type":"post","link":"https:\/\/readtrends.com\/en\/oil-110-israel-strike-iran-nowruz\/","title":{"rendered":"Oil rises to $110 as Israel strikes Iran during Nowruz"},"content":{"rendered":"<article>\n<h2>Lead<\/h2>\n<p>As the conflict between Israel, the United States and Iran entered its third week around the Persian new year (Nowruz), energy markets reacted sharply: Brent crude climbed to about $110 a barrel while key Gulf shipping lanes remained effectively closed. Israeli forces carried out strikes east of Tehran, and Iran responded with missile and naval attacks that damaged regional energy infrastructure. The closures and damage pushed US retail gasoline averages higher, compounding economic and strategic pressure on governments and markets. Civilian displacement, rising casualties and widespread disruption across the Gulf marked Nowruz this year with conflict rather than celebration.<\/p>\n<h2>Key takeaways<\/h2>\n<ul>\n<li>Brent crude rose roughly 1.4% to about $110.2 per barrel, while US WTI traded near $95.9, reflecting renewed Middle East supply risk.<\/li>\n<li>US average retail gasoline prices climbed to $3.91 a gallon, the highest national average since October 13, 2022, according to AAA.<\/li>\n<li>QatarEnergy reported a 17% reduction in LNG export capacity after damage to the Ras Laffan facility and warned repairs could take up to five years.<\/li>\n<li>The Israel Defense Forces (IDF) said it struck targets east of Tehran (Nur area) and confirmed it killed Esmail Ahmadi, a senior Basij intelligence official, after earlier reporting the death of Basij head Gholamreza Soleimani.<\/li>\n<li>Lebanon faced a humanitarian crisis: more than 1,000 deaths reported since March 2 and roughly 1 million people displaced \u2014 nearly one in six residents, per humanitarian agencies.<\/li>\n<li>The IDF reported more than 570 Hezbollah fighters killed and over 2,000 targets struck in recent operations, underscoring the campaign\u2019s intensity.<\/li>\n<li>UK authorities permitted limited US use of British bases for defensive operations, drawing a sharp warning from Iran\u2019s foreign ministry about \u2018\u2018participation in aggression.\u2019li>\n<li>US and Israeli coordination around strikes, including on energy infrastructure such as South Pars, remains contested between official statements and reporting.<\/li>\n<\/ul>\n<h2>Background<\/h2>\n<p>The confrontation escalated sharply after a sequence of high-profile assassinations and strikes at the end of February, which Iranian and Israeli officials have linked to one another. What began as targeted attacks on security and military figures has broadened into strikes on energy infrastructure across the Gulf, including Iran\u2019s South Pars gas field and Qatar\u2019s Ras Laffan LNG complex. Closure or near-closure of the Strait of Hormuz, a choke point for global oil and gas shipments, has amplified market anxiety and forced many traders and policymakers to reassess supply risk.<\/p>\n<p>Both Tehran and its adversaries have framed the campaign in existential terms: Israeli and US officials describe actions as necessary to degrade Iran\u2019s capacity to threaten regional partners, while Iranian leaders emphasize retaliation and deterrence, including warnings that enemy officials and assets worldwide are vulnerable. External states \u2014 from Gulf monarchies to European capitals \u2014 face pressure to choose partners for security cooperation, with some Gulf states reportedly deepening ties to Europe as a hedge against further instability.<\/p>\n<h2>Main event<\/h2>\n<p>On or about Nowruz, Israeli aircraft struck the Nur area east of Tehran, prompting reports of explosions and air-defense activity in the Iranian capital. Iranian state-affiliated outlets reported retaliatory missile launches toward southern and central Israel and damage at several Gulf ports, including fires among civilian and commercial boats off Bandar Lengeh. Local reports and satellite imagery later showed damage at maritime facilities in the Gulf.<\/p>\n<p>QatarEnergy said strikes on Ras Laffan damaged production infrastructure, reducing LNG export capacity by about 17% and prompting warnings of force majeure on some long-term contracts. The company estimated repairs could take up to five years, a timeline that would materially affect European and Asian gas supply options during an already tight market. Officials from affected importing countries said they were assessing diversification and emergency measures.<\/p>\n<p>On the diplomatic and security fronts, Iran\u2019s foreign ministry condemned UK decisions to allow US use of British bases, calling such permission \u2018\u2018participation in aggression,\u2019\u2019 while London said access was limited and defensive in nature. In Britain, police arrested two people who attempted to enter HM Naval Base Clyde; authorities said inquiries continue. Meanwhile, in Lebanon and southern Syria, Israeli strikes and Hezbollah responses produced mass displacement and mounting civilian casualties.<\/p>\n<h2>Analysis &#038; implications<\/h2>\n<p>Energy markets are reacting not only to immediate outages but to the prospect of protracted disruption. Goldman Sachs and other analysts have warned that oil could remain above $100 a barrel for an extended period; sustained higher prices would raise inflationary pressure globally and increase fuel costs for households and industry. A multi-year repair horizon for damaged LNG plants would shrink options for importing nations and increase the strategic value of remaining supplies.<\/p>\n<p>Strategically, the closure of the Strait of Hormuz \u2014 even if partial or intermittent \u2014 shifts naval and diplomatic priorities. Reopening the strait will likely require a sustained multinational maritime security effort, greater naval deployments, and heightened convoy protection; experts caution that escorts alone will not resolve underlying interdiction risks. The need for transit security may push Gulf states to accelerate diversification of security partnerships, including deeper ties with European militaries and logistics networks.<\/p>\n<p>Politically, the war\u2019s momentum complicates domestic politics in the United States, the UK and Israel. President Trump\u2019s potential request to Congress for as much as $200 billion in wartime funding underscores how fiscal politics and coalition dynamics could shape the campaign\u2019s duration. Public support is strained: polling suggests polarized views domestically, and leaders must weigh sustaining a military campaign against economic fallout and voter sentiment.<\/p>\n<h2>Comparison &#038; data<\/h2>\n<figure>\n<table>\n<thead>\n<tr>\n<th>Metric<\/th>\n<th>Current value<\/th>\n<th>Context \/ change<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Brent crude<\/td>\n<td>~$110.2 \/ bbl<\/td>\n<td>Up ~1.4% on renewed supply-risk fears<\/td>\n<\/tr>\n<tr>\n<td>WTI<\/td>\n<td>~$95.9 \/ bbl<\/td>\n<td>US benchmark showing smaller intraday gain<\/td>\n<\/tr>\n<tr>\n<td>US regular gasoline<\/td>\n<td>$3.91 \/ gallon<\/td>\n<td>Highest national average since Oct 13, 2022 (AAA)<\/td>\n<\/tr>\n<tr>\n<td>Qatar LNG output<\/td>\n<td>-17%<\/td>\n<td>Ras Laffan damage; repairs could take up to five years (QatarEnergy)<\/td>\n<\/tr>\n<tr>\n<td>Lebanon casualties<\/td>\n<td>>1,000 deaths<\/td>\n<td>Reported since March 2; displacement ~1 million (humanitarian agencies)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p>Those figures show immediate market reactions and the human toll. Energy-price moves are substantial for a short period but would be more consequential if the disruptions persist into months or years. The humanitarian indicators\u2014casualties and displacement\u2014point to mounting social strain and likely longer-term recovery needs in Lebanon and border areas.<\/p>\n<h2>Reactions &#038; quotes<\/h2>\n<p>The IDF framed recent strikes as part of a campaign targeting Iranian command figures and infrastructure. In a brief statement, it said the operation struck \u2018\u2018Iranian terror regime commanders\u2019\u2019 and highlighted the role of Esmail Ahmadi in Basij intelligence activities.<\/p>\n<blockquote>\n<p>&#8220;Ahmadi played a central role in advancing and executing terror attacks carried out by Basij Forces,&#8221;<\/p>\n<p><cite>Israel Defense Forces (IDF statement)<\/cite><\/p><\/blockquote>\n<p>QatarEnergy\u2019s chief emphasized the commercial and humanitarian implications of the strike on Ras Laffan, warning of prolonged service outages.<\/p>\n<blockquote>\n<p>&#8220;Unjustified and senseless attacks&#8230; on global energy security and stability,&#8221;<\/p>\n<p><cite>Saad Sherida Al-Kaabi, QatarEnergy (state energy company)<\/cite><\/p><\/blockquote>\n<p>On the diplomatic front, London defended limited US access to bases while Tehran warned of the implications of such support.<\/p>\n<blockquote>\n<p>&#8220;We didn\u2019t participate in the initial strikes, and we\u2019re not getting drawn into the wider war,&#8221;<\/p>\n<p><cite>Downing Street spokesperson (UK government)<\/cite><\/p><\/blockquote>\n<h2>\n<aside>\n<details>\n<summary>Explainer: Strait of Hormuz, LNG and force majeure<\/summary>\n<p>The Strait of Hormuz is a narrow waterway through which an outsized share of global oil and LNG transits; a blockage there immediately tightens global energy supplies. LNG (liquefied natural gas) requires specialized liquefaction and regasification terminals; damage to large hubs such as Ras Laffan reduces the physical ability to deliver contracted volumes. Force majeure is a legal clause allowing suppliers to suspend contractual obligations when extraordinary events prevent performance; declaring it can relieve exporters of penalty but shifts supply risk to buyers. The Basij is Iran\u2019s volunteer militia, integrated into internal security and suppression operations; losses among its leadership affect Iran\u2019s internal command structure. Nowruz, the Persian New Year, is normally a period of family gatherings and travel \u2014 its occurrence amid open hostilities intensifies civilian disruption and symbolic stakes.<\/p>\n<\/details>\n<\/aside>\n<\/h2>\n<h2>Unconfirmed<\/h2>\n<ul>\n<li>Reports that Supreme Leader Mojtaba Khamenei sustained injuries in strikes remain unverified; Iranian officials provided limited confirmation and details are inconsistent across outlets.<\/li>\n<li>Contradictory claims persist over whether the United States had prior knowledge of Israel\u2019s strike on the South Pars facility; official statements conflict with some reporting.<\/li>\n<li>Some reports of specific casualty figures in targeted urban areas remain incomplete pending independent verification from humanitarian or medical authorities.<\/li>\n<\/ul>\n<h2>Bottom line<\/h2>\n<p>The conflict\u2019s spread to energy infrastructure has converted a regional military contest into a problem for global markets and logistics: oil and gas supply lines are disrupted, prices have jumped, and importing states face a prolonged scramble for alternatives. Even if kinetic action decreases temporarily, repair timelines and continued transit insecurity make a swift market normalization unlikely.<\/p>\n<p>Policymakers should watch three indicators closely: (1) the operational status of the Strait of Hormuz and major Gulf terminals, (2) whether major suppliers declare prolonged force majeure, and (3) decisive shifts in external security partnerships (naval escorts, EU-Gulf cooperation). Each will influence both economic outcomes and the diplomatic calculus that could either deepen the conflict or open pathways to de-escalation.<\/p>\n<h2>Sources<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.cnn.com\/world\/live-news\/iran-war-us-israel-trump-03-20-26\" target=\"_blank\" rel=\"noopener\">CNN \u2014 live coverage and reporting (international news)<\/a><\/li>\n<li><a href=\"https:\/\/x.com\/QatarEnergy\">QatarEnergy (@QatarEnergy) \u2014 state energy company statement on X (official)<\/a><\/li>\n<li><a href=\"https:\/\/gasprices.aaa.com\" target=\"_blank\" rel=\"noopener\">AAA Gas Prices \u2014 national gasoline averages (consumer data)<\/a><\/li>\n<li><a href=\"https:\/\/www.idf.il\" target=\"_blank\" rel=\"noopener\">Israel Defense Forces \u2014 official statements (military)<\/a><\/li>\n<li><a href=\"https:\/\/www.nrc.no\" target=\"_blank\" rel=\"noopener\">Norwegian Refugee Council \u2014 humanitarian reporting (NGO)<\/a><\/li>\n<\/ul>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>Lead As the conflict between Israel, the United States and Iran entered its third week around the Persian new year (Nowruz), energy markets reacted sharply: Brent crude climbed to about $110 a barrel while key Gulf shipping lanes remained effectively closed. Israeli forces carried out strikes east of Tehran, and Iran responded with missile and &#8230; <a title=\"Oil rises to $110 as Israel strikes Iran during Nowruz\" class=\"read-more\" href=\"https:\/\/readtrends.com\/en\/oil-110-israel-strike-iran-nowruz\/\" aria-label=\"Read more about Oil rises to $110 as Israel strikes Iran during Nowruz\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":24892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"Oil hits $110 as Israel strikes Iran during Nowruz | InsightBrief","rank_math_description":"Brent climbs to about $110 as Israeli strikes near Tehran and Iran retaliates during Nowruz, disrupting Gulf shipping and raising US gas to $3.91. Market, humanitarian and geopolitical fallout explained.","rank_math_focus_keyword":"oil, Iran, Israel, Nowruz, Strait of Hormuz","footnotes":""},"categories":[2],"tags":[],"class_list":["post-24900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-stories"],"_links":{"self":[{"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/posts\/24900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/comments?post=24900"}],"version-history":[{"count":0,"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/posts\/24900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/media\/24892"}],"wp:attachment":[{"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/media?parent=24900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/categories?post=24900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/readtrends.com\/en\/wp-json\/wp\/v2\/tags?post=24900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}