On October 1st, Israel’s Iron Dome intercepted ballistic missile attacks attributed to Iran. NBC News reported on the 12th that U.S. officials believe Israel has narrowed the scope of its potential targets in response to the Iranian missile strikes, focusing specifically on Iran’s military and energy infrastructure. While Israeli Prime Minister Netanyahu is still deliberating on how to respond to the missile assault from Iran, related plans remain classified.
Sky News analysis suggests that if Israel were to carry out strikes against Iranian oil facilities, the repercussions could extend far beyond the Middle East, potentially impacting the upcoming U.S. presidential election.
Iran has issued warnings, stating it may retaliate by targeting facilities in the United Arab Emirates located along the Persian Gulf. According to a Reuters report on the 10th, citing three sources from Gulf nations, these oil-producing countries are lobbying the U.S. to deter an Israeli attack on Iran’s oil infrastructure due to fears that their own oilfields could be targeted by Iranian-backed groups.
The Wall Street Journal also noted that Iran is threatening these Gulf nations through clandestine diplomatic channels, cautioning them against allowing their territory or airspace to be used for an assault on Iran. Iran has stated that retaliation would not only be aimed at Israeli civilian infrastructure but would also target any Arab nations that assist in such actions.
Sky News further indicated that if these strikes were to occur, it could lead to a significant spike in oil prices, resulting in disastrous consequences for the global economy. Furthermore, the rise in oil prices might contribute to a sharp increase in gasoline costs just weeks before the U.S. election, which could potentially aid former President Donald Trump, the Republican candidate, in his bid to return to the White House. Netanyahu might welcome such an outcome.
