Iran warns of global energy shock if Israel strikes again

Iran warned Wednesday that a new Israeli offensive in the Persian Gulf could have severe economic consequences, as tensions between the two countries continue to rise. In a post on X, Iranian Foreign Minister Abbas Araghchi said another Israeli military operation could have a “devastating impact” on international markets, particularly the energy sector. Both gas producers and consumers would be directly affected by renewed regional fighting, he warned.

His comments came as provisional results from Israel’s parliamentary elections showed Benjamin Netanyahu’s Likud party in the lead. Netanyahu repeatedly warned Iran during his election campaign. Backed by US President Donald Trump, the outgoing prime minister has argued that overthrowing Iran’s government is the only way to permanently eliminate what he describes as an existential threat to Israel. Relations between Israel and Iran remain deeply strained following successive rounds of fighting.

Israel struck Iran in June 2025, followed by a joint Israeli-American offensive launched in late February 2026. A ceasefire was reached in April after 40 days of bombardment. Washington and Tehran subsequently signed a memorandum of understanding in June, but the fragile truce eroded over the summer, leaving diplomatic negotiations at a standstill. What does it take to strike Iran? An Israeli F-16 squadron commander speaks to i24NEWS Iran’s foreign ministry has maintained that the outcome of Israel’s elections will not alter Tehran’s position.

Previous confrontations have disrupted global markets and driven up oil and gas prices. Renewed fighting could deepen uncertainty over international energy supplies.