The Oil, Gas Sector is Already Feeling the Effects of the Israel-Iran Conflict

The first few days of the escalated military conflict between Israel and Iran have already impacted vital energy infrastructure within the two warring countries. With energy production as well as exports from those two countries already being impacted, some analysts are beginning to work out what the worst-case scenario could be if the conflict got a lot worse than it already is.

Brent crude prices, the benchmark for oil trade, rose by 7% on Friday to reach more than $74 per barrel after Israel started its unprecedented airstrikes against Iran, prompting Tehran to also launch ballistic missiles at targets in Israel.

Since those initial attacks were launched, a number of energy facilities inside the two countries have had their operations disrupted to a degree as a result of direct hits they suffered. Fortunately, for now, global crude oil prices have retraced slightly after it emerged that for now, none of the warring parties seemed to have critical energy supply routes and infrastructure in their crosshairs.

Reports indicating that Tehran was seeking mediation in order to hammer out a ceasefire also calmed markets slightly.

The focus for the majority of investors is currently trained on the Strait of Hormuz, a key waterway located between Oman and Iran. This waterway is the route through which nearly 20% of the global consumption of crude oil as well as other fuels is transported. Furthermore, approximately 20% of LNG consumed in the world is exported through this waterway from the UAE and Oman.

Any disruptions to this strait would therefore have a major impact upon the global energy landscape, with the result that energy prices would skyrocket and more global powers could be sucked into this conflict to enable traffic to resume through this waterway.

Currently, Iran’s exports of crude oil have shrunk to an estimated 102,000 barrels per day (bpd), a stark contrast to the approximate weekly total of 1.7 million barrels exported thus far in 2025. Kharg Island, responsible for 90% of all energy exports from Iran, has stopped its operations as a result of the conflict.

Gas fields, such as South Pars, have also come under Israeli attack. This prompted Iran to partially suspend production at the facility.

Israel hasn’t fared any better with regards to the conflict’s effects on its energy sector. Approximately two-thirds of natural gas production has come offline in Israel after two of the country’s three gas fields were shut down on Friday. Iranian missiles also seriously damaged a power station that provides the energy used at a Haifa-based refinery for oil.

If this conflict drags on, or even escalates, the energy industries of these countries could suffer worse impacts that could have wider implications upon the global energy supply chains.

Oil and gas industry players, such as GEMXX Corp. (OTC: GEMZ), from around the world will be closely watching this latest conflict in the Middle East and how events there may affect the wider energy sector around the world.

NOTE TO INVESTORS: The latest news and updates relating to GEMXX Corp. (OTC: GEMZ) are available in the company’s newsroom at https://ibn.fm/GEMZ

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