Iran strike shuts down Haifa refinery
Shafaq News/ Israel's Bazan Group shut down all operations at its Haifa oil refinery after an Iranian missile strike severely damaged its power plant, the company announced on Monday.
Bazan Group, which operates Israel's largest refining facility, confirmed in a filing to the Tel Aviv Stock Exchange that the power plant supplying steam and electricity had sustained 'significant damage,' forcing all refinery and subsidiary operations offline.
The attack formed part of Iran's Operation True Promise 3, a retaliatory strike following Israeli air raids on nuclear and military facilities in Natanz, Fordow, and Tehran.
The Haifa refinery is a critical hub in Israel's energy infrastructure, providing a substantial portion of the country's fuel and petrochemical output. Its suspension raised concerns over supply resilience as tensions escalate.
Iran's Islamic Revolutionary Guard Corps (IRGC) claimed responsibility for the strike, calling it a 'strategic warning.' In response, Israeli Prime Minister Benjamin Netanyahu warned Tehran would 'pay a very heavy price.'
The incident rattled global energy markets. Brent crude surged more than 5% amid fears of regional supply disruptions and a spillover across the Middle East.
Western governments have urged both sides to exercise restraint, warning that continued escalation could ignite a wider regional conflict involving proxy forces across Lebanon, Syria, Iraq, and Yemen.
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