Energy Prospectus

A fire broke out at Kangan Port in Iran’s Bushehr province following an Israeli drone strike targeting on onshore refinery at Phase 14 of the South Pars gas field in the Persian Gulf on Saturday. It was the first attack by Israel specifically targeting Iran's critical energy sector.

The strike caused a powerful explosion and fire, the semi-official Tasnim news agency reported, adding that a separate fire also broke out at the Fajr Jam gas refinery, which processes gas from South Pars as well as the Nar and Kangan fields and is one of Iran’s largest refineries.

Read more: https://www.zerohedge.com/markets/israel-attack-targets-refinery-irans-giant-south-pars-gas-field

June 15: Iranian lawmaker and military general Esmail Kosari said Tehran is reviewing whether to close the Strait of Hormuz - a critical oil route for the global economy. Meanwhile, Iranian state media said the country had warned it would target military bases in the region that assist in intercepting Iranian missiles.

If Iran attempt to close the Strait of Hormuz or attacks U.S. military bases, the U.S. will join the fight. Just talking about closing the Strait will keep a lot of tankers out of the Persian Gulf.