By Tucker Reals
Updated on: March 19, 2026 / 4:52 AM EDT / CBS News
What to know as the U.S. and Israel’s war with Iran escalates:
– The conflict intensified after an Israeli strike hit Iran’s vast South Pars natural gas field, shared with Qatar. Iran has retaliated with attacks across the region. President Trump, while saying Israel would not strike the field again, warned the U.S. would “massively blow up the entirety of the South Pars Gas Field” if Iran attacks Qatari energy infrastructure.
– Oil and gas prices surged as markets absorbed the expanding hostilities. Analysts warned the fighting is “hitting the plumbing of the global energy system,” an impact beyond the closure of the Strait of Hormuz.
– Despite relentless U.S.-Israeli attacks on Iran’s leadership, Director of National Intelligence Tulsi Gabbard told senators the regime “appears to be intact,” though “largely degraded.”
Gulf states say any trust in Iran “shattered” as drones hit oil and gas infrastructure in Kuwait, UAE
Saudi Arabia reported a drone strike on the SAMREF refinery in Yanbu on the Red Sea; damage assessments were underway. Earlier drone attacks on Kuwait’s Mina Al‑Ahmadi refinery and the nearby Mina Abdullah refinery set fires; Mina Al‑Ahmadi is one of the region’s largest refineries (730,000 bpd capacity). Abu Dhabi authorities said they shut operations at the Habshan gas facility and the Bab field after Iranian overnight attacks, calling the strikes a “dangerous escalation.” Missile sirens sounded across the Gulf as Israel warned of incoming Iranian fire. Qatar, Saudi Arabia and the UAE condemned the attacks, and Saudi Arabia said whatever trust remained in Iran has been “completely shattered.”
Stocks slide and oil prices spike as Israeli strike hits “plumbing of the global energy system”
Markets reacted sharply to the South Pars strike and Trump’s threat. Reuters reported U.S. crude futures rose above $97 per barrel, natural gas climbed about 3%, and Brent crude rose to $111.87 a barrel, up roughly 4% on the day. Asian and European stock markets fell: Japan’s Nikkei dropped over 3%, South Korea’s equities fell 2.8%, and European futures were down more than 1.5% ahead of opening. Charu Chanana, chief investment strategist at Saxo in Singapore, told Reuters that the escalation represents a turning point because the conflict is affecting global energy infrastructure, raising stagflation risks.
Iran launches deadly new wave of missile attacks on Israel
Iran launched at least six waves of missiles at Israel overnight, including attacks using cluster munitions. Most were intercepted by air defenses, but debris and bomblets fell in several places. An elderly man in Tel Aviv was lightly injured by falling debris. A cluster bomb struck Adanim in central Israel, killing a Thai agricultural worker, and another hit a home in Jaljulia with no reported injuries. Palestinian media reported fatalities from a direct hit in Bayt Awwa in the occupied West Bank; those reports were not immediately confirmed.
Vessel “hit by unknown projectile” off Qatar’s coast
The U.K. Maritime Trade Operations Center (UKMTO) said a vessel was reportedly “hit by an unknown projectile” off Qatar’s Ras Laffan petroleum area; the vessel and projectile were not identified, and all crew were reportedly safe. Iran has been attacking commercial vessels in the Gulf for nearly three weeks in retaliation for ongoing U.S.-Israeli strikes, severely disrupting traffic through the Strait of Hormuz. Attacks had eased somewhat before Israel’s South Pars strike, after which Iran stepped up strikes on Gulf states.
QatarEnergy reports multiple LNG facilities struck
QatarEnergy said Iran’s missile attack on Ras Laffan Industrial City caused “extensive damage” to the Pearl GTL facility and that later strikes early Thursday hit several other LNG facilities, causing “sizeable fires and extensive further damage.” No casualties were initially reported.
Trump says “NO MORE ATTACKS WILL BE MADE BY ISRAEL” on South Pars gas field
On Truth Social, President Trump said the U.S. “knew nothing” about Israel’s strike on South Pars and that Qatar was not involved. He declared Israel would not attack the South Pars field again but warned that if Iran attacks Qatar’s LNG facilities, the United States would “massively blow up the entirety of the South Pars Gas Field” at a level of force Iran “has never seen or witnessed before.” Israeli officials have not commented on the South Pars strike or Trump’s warning.
U.K. military planners working with U.S. on plan to reopen Strait of Hormuz
A small team of U.K. military planners is working with U.S. Central Command on options to reopen the Strait of Hormuz, CBS News has learned. The team augments U.K. planning staff assigned to CENTCOM in Tampa. Allies have been reluctant to join active combat operations alongside the U.S. and Israel; officials say partners may consider sending mine-detection and other assets after hostilities subside. The issue is expected to arise when Japanese Prime Minister Sanae Takaichi meets President Trump; Japan’s constitution limits the use of its Self‑Defense Forces in offensive operations.
Other developments
– A report of missile alert sirens across the Gulf and Israeli warnings of incoming fire accompanied the latest attacks.
– The conflict continues to paralyze parts of global maritime traffic and strain energy markets as damage assessments and casualty reports continue to emerge.
Sources: CBS News reporting; Reuters; QatarEnergy; UKMTO; state news agencies; AP.