Iran’s minister tours southern oil facilities despite Israel’s threats
Iran's Oil Minister Mohsen Paknejad has dismissed threats of a potential Israeli attack on the country’s oil facilities after he toured energy production installations in the south of the country.
Paknejad said on Saturday that his visit to the Assaluyeh region, located in the province of Bushehr on the Persian Gulf coast, was not related to threats of attacks on Iran’s oil and gas facilities.
“We are not worried about the enemies of the revolution creating crises, and this trip is considered a normal work trip,” Paknejad was quoted by the Oil Ministry’s news service Shana.
His comments came amid speculations that Israel may attack Iran’s oil facilities in response to Iranian ballistic missile attacks earlier this week that targeted the regime’s capital of Tel Aviv and other areas.
Iran has reiterated that missile attack against Israel was a response to the regime’s brutal wars in Palestine and in Lebanon and its sabotage activities in Iran in recent months. Authorities have warned that any counterattack by Israel would face more destructive responses from Iran.
Oil prices to rise by $20 if Iran supplies are disrupted
That comes as market analysts have warned about the severe consequences of targeting Iranian oil installations.
The Goldman Sachs, a major multinational bank and investment group based in the US, said on Friday that any disruption to Iranian oil supplies because of the ongoing conflict in the West Asia region will lead to an increase of $20 in international oil prices.
The bank said that oil prices could temporarily rise to $90 per barrel and even experience mid $90s in 2025 if Iran supplies are disrupted and even if other producers can gradually offsets the shortfall in the market.
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