Tel Aviv: Israel is grappling with a major economic crisis after a devastating Iranian missile strike hit the Haifa oil refinery, causing an estimated $3 billion in damages. The attack has severely disrupted the country’s fuel supply, leading to widespread shortages, soaring prices, and escalating pressure on the Israeli government to stabilize the situation.
The strategic strike, one of the most damaging to Israel’s energy infrastructure in recent memory, has crippled the nation’s refining capacity, sending ripple effects through transportation, industry, and domestic fuel supplies. Fuel prices have surged, with long queues reported at petrol stations across major cities.
In response to the rapidly deteriorating situation, Prime Minister Benjamin Netanyahu has rushed to the United States for an emergency meeting with former President Donald Trump, signaling an urgent push for diplomatic and strategic support.
Experts warn that the refinery disaster could have long-term implications for both Israel’s economy and the regional energy landscape, potentially shifting alliances and energy trade routes across the Middle East.
The timing of the strike, amid ongoing geopolitical tensions, has added to concerns about broader instability. As investigations continue, Israel’s energy and defense sectors are working in crisis mode to assess the damage and begin recovery efforts.