Tehran refinery south of Iranian capital on fire after strike - State TV

Tehran refinery south of Iranian capital on fire after strike - State TV

A major fire has erupted at the Tondgouyan oil refinery, located south of Tehran, following airstrikes reported by Iranian state media. The facility, which supplies approximately 15% of Iran’s energy needs, sustained significant damage in the attack, according to eyewitness accounts and video evidence. The strikes, attributed to U.S. and Israeli forces, are part of an escalating military campaign targeting Iranian infrastructure, including military installations and air defenses.

The Tondgouyan refinery’s disruption adds to growing concerns over Iran’s energy security amid intensified regional hostilities. Over the past week, U.S. and Israeli operations have struck multiple strategic sites, including Tehran’s Mehrabad Airport and military barracks, while Iran has retaliated with missile attacks across the Gulf. Iranian state television has asserted the country is prepared to sustain conflict for at least six months, signaling resilience despite mounting infrastructure losses.

The strikes have exacerbated global market anxieties, with oil prices fluctuating amid fears of prolonged supply chain disruptions. The U.S. military reported sinking over 30 Iranian vessels, including a drone carrier, while Gulf allies such as Bahrain and Kuwait have also faced retaliatory attacks. Analysts warn that sustained hostilities could further destabilize regional energy markets, compounding inflationary pressures and geopolitical risks for investors.

As the conflict enters its eighth day, U.S. President Donald Trump insisted on "unconditional surrender" from Iran. The financial implications of prolonged warfare—ranging from infrastructure repair costs to trade interruptions—remain a critical concern for global markets.