Israeli strikes halt Iran’s petrochemical industry amid rising tensions

Israeli air strikes have forced the shutdown of Iran’s major petrochemical plants, including facilities operated by Mobin and Damavand in Assaluyeh, a key energy hub in southern Iran. The attacks targeted infrastructure supporting electricity, water, and oxygen supply, crippling Iran’s export capabilities. Iran has condemned the strikes and warned of “more crushing” retaliatory attacks if assaults on non-military targets continue. Over the past month, Iranian forces have already targeted energy, aluminium, and desalination facilities in the Gulf. The conflict escalates…

info@westferrytimes.com By info@westferrytimes.com 2 Min Read

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info@westferrytimes.com By info@westferrytimes.com

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info@westferrytimes.com By info@westferrytimes.com

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By Westferry Times Business Desk23 March 2026 Global oil prices dropped sharply while stock markets rebounded after US President Donald Trump suggested progress towards ending the ongoing conflict…

info@westferrytimes.com By info@westferrytimes.com

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