Iranian attack on Israel has major impact on oil sector

The rapid escalation between Iran and Israel threatens the stability of world oil markets, with serious implications for maritime trade and energy security.

Share:

Impact attaque Iran Israël pétrole

Iran’s drone attack on Israel on April 13 has sharply heightened tensions in the oil- and gas-rich Middle East. This offensive follows the seizure of an Israel-linked cargo ship near the Strait of Hormuz. Crude oil prices climbed, a palpable sign of market anxiety.

Regional impact envisaged

A military conflict between Iran and Israel could quickly involve other major oil and gas producers in the region, such as OPEC members Saudi Arabia and the United Arab Emirates. The latter have already been the target of attacks by Iranian-backed Houthi militias. The region accounts for around 40% of the world’s oil exports.

Implications for maritime trade

The attack comes at a time when the region is already on high alert. Iran has also threatened to close the Strait of Hormuz, a crucial passage for world oil trade. This threat, if carried out, could seriously disrupt the flow of crude oil, condensates and refined fuels, as well as LNG.

International reactions and future implications

Following the attack, US President Joe Biden confirmed that almost all the drones and missiles launched against Israel had been intercepted. However, the tension remains palpable, with potential implications for global security and international energy policies. The UN, via Iran’s permanent mission, said the operation was a timely response, but warned of a more severe reaction in the event of further provocations.

Impact on specific marine operations

On the same day, Iranian forces seized the MSC Aries, a Portuguese-flagged container ship with Israeli links, exacerbating the risks of major disruption. This seizure highlights the increased risks for commercial vessels in the region, already affected by the Israel-Hamas conflict.

Recent events between Iran and Israel pose a significant risk not only to regional stability but also to the global economy, directly linking regional security to the stability of international energy markets.

The Central Energy Fund’s takeover of the Sapref refinery introduces major financial risks for South Africa, with the facility still offline and no clear restart strategy released so far.
PetroTal Corp. records production growth in the second quarter of 2025, improves its cash position and continues replacing key equipment at its main oil sites in Peru.
An explosion caused by a homemade explosive device in northeastern Colombia has forced Cenit, a subsidiary of Ecopetrol, to temporarily suspend operations on the strategic Caño Limón-Coveñas pipeline, crucial to the country's oil supply.
Occidental Petroleum announces a decrease in its production in the Gulf of Mexico in the second quarter, citing third-party constraints, extended maintenance, and scheduling delays.
U.S. legislation eases access to federal lands for oil production, but fluctuations in crude prices may limit concrete impacts on investment and medium-term production, according to industry experts.
Permex Petroleum Corporation has completed a US$2mn fundraising by issuing convertible debentures, aimed at strengthening its cash position, without using intermediaries, and targeting a single institutional investor.
Petróleos de Venezuela S.A. (PDVSA) recorded $17.52bn in export sales in 2024, benefiting from increased volumes due to U.S. licences granted to foreign partners, according to an internal document seen by Reuters.
The detection of zinc in Mars crude extracted off the coast of Louisiana forced the US government to draw on its strategic reserves to support Gulf Coast refineries.
Commissioning of a 1.2-million-ton hydrocracking unit at the TANECO site confirms the industrial expansion of the complex and its ability to diversify refined fuel production.
Oil stocks in the United States saw an unexpected rise of 7.1 million barrels as of July 4, defying analyst expectations of a decline, according to the U.S. Energy Information Administration (EIA).
Petro-Victory Energy announces the completion of drilling operations for the AND-5 well in the Andorinha field, Brazil, with positive reservoir results and next steps for production.
The Colombian prosecutor’s office has seized two offices belonging to the oil company Perenco in Bogotá. The company is accused of financing the United Self-Defense Forces of Colombia (AUC) in exchange for security services between 1997 and 2005.
Indonesia has signed a memorandum of understanding with the United States to increase its energy imports. This deal, involving Pertamina, aims to diversify the country's energy supply sources.
VAALCO Energy continues to operate the Baobab field by renovating its floating platform, despite modest production. This strategy aims to maintain stable profitability at low cost.
An empty reservoir exploded at a Lukoil-Perm oil facility in Russia, causing no injuries according to initial assessments pointing to a chemical reaction with oxygen as the cause of the accident.
The British Lindsey refinery has resumed fuel deliveries after reaching a temporary agreement to continue operations, while the future of this strategic site remains under insolvency proceedings.
BP and Shell intensify their commitments in Libya with new agreements aimed at revitalizing major oil field production, amid persistent instability but rising output in recent months.
The private OCP pipeline has resumed operations in Ecuador following an interruption caused by heavy rains, while the main SOTE pipeline remains shut down, continuing to impact oil exports from the South American country.
McDermott secures contract worth up to $50 million with BRAVA Energia to install subsea equipment on the Papa-Terra and Atlanta oil fields off the Brazilian coast.
A bulk carrier operated by a Greek company sailing under a Liberian flag suffered a coordinated attack involving small arms and explosive drones, prompting an Israeli military response against Yemen's Houthis.