BusinessOil Hits $100 a Barrel as Iranian Oil Facilities...

Oil Hits $100 a Barrel as Iranian Oil Facilities Erupt in Flames

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Fires raged across Tehran after Israeli military forces struck at least five energy sites in and around the Iranian capital. The attacks left the city blanketed in thick black smoke, with residents describing the overwhelming smell of burning oil lingering across neighborhoods for hours.

Iran’s oil distribution company confirmed that four employees were killed in the strikes. Explosions also rocked the city of Karaj near Tehran, deepening fears about the conflict’s trajectory and its potential to destabilize global energy supply chains for months to come.

Iran’s Revolutionary Guards responded with a chilling threat, warning that if attacks on energy infrastructure continued, similar strikes would be carried out against oil facilities in neighboring Gulf states. The warning sent oil traders scrambling, pushing prices sharply higher on international markets.

The United States sought to calm markets, with its energy secretary insisting that Washington had no intention of targeting Iranian energy infrastructure. He predicted supply disruptions would be short-lived, lasting only a matter of weeks, though analysts remained skeptical given the pace of escalation.

Leadership turmoil added another layer of uncertainty to an already volatile situation. Iran’s clerical assembly appointed Mojtaba Khamenei, son of the late supreme leader, as the country’s new highest authority — a historic and controversial move that drew immediate condemnation from multiple world leaders.

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