Energy War Erupts As U.S.-Israel Unity Cracks, Global Markets Brace For Shock

What began as a coordinated U.S.–Israel offensive against Iran is now showing cracks, with growing uncertainty over Washington’s role in Israel’s strike on the South Pars gas field. Conflicting reports about U.S. awareness and approval highlight strain within the alliance, even as Donald Trump signals efforts to prevent further escalation. Meanwhile, the conflict has expanded beyond military confrontation into energy warfare. Iran’s retaliation targeting Qatar’s Ras Laffan LNG hub—vital to global supply—has disrupted operations and shaken markets. With key oil and gas infrastructure under attack, the crisis now threatens worldwide energy stability, amplifying risks for economies, industries, and households far beyond the region.