Israel Strikes Iran's Gas Field, Global Markets React

0:00What's up? This is Global News Today, bringing you the fastest global updates right now. Iranian State Media reports that Israel struck Iran's South Power's natural gas field this week, hitting facilities near the Gulf Coast town of Asaluya. Fires broke out at the site, which is part of the world's largest gas reserve and a key source of the country's energy. The field sits under the Gulf and is shared with Qatar, known as the Northfield on their side. Iran, it mainly feeds domestic needs, like electricity and heating, supplying about 80 percent of the nation's natural gas. Global markets reacted quickly, with oil prices climbing and European gas prices jumping 7 percent amid fears of wider retaliation. Iran has vouched strikes on energy sites and neighboring Gulf states, even though those countries like Saudi Arabia and Qatar aren't joining the attacks. On Iran, Iran ranks as the fourth biggest natural gas consumer worldwide. In the United States, China and Russia, yet the country often faces power shortages from

1:04aging infrastructure and past supply disruptions, like during last July's heat wave when public. Building shut down. Meanwhile, Qatar has turned its share of the field into major exports, while sanctions have stalled Iran's plans for liquefied natural gas projects, including one near the attack site that's taken nearly 20 years to near completion. This story is shared with support from our sponsor. Headphones in a pillow, simple idea, surprisingly addictive, S-O-L-I-SOLI-PILLO.com