Gulf nations urge U.S. to stop Israel’s attack on Iranian oil facilities to prevent escalation.

According to multiple sources,Open a foreign exchange dealer Gulf countries are jointly pressuring the United States to prevent Israel from carrying out any military strikes on Iran's oil facilities. Several Gulf nations, including Saudi Arabia, the UAE, and Qatar, have explicitly stated their refusal to allow Israel to use their airspace to attack Iran, aiming to minimize the risk of regional conflict. Israel is currently assessing its response options to last week's airstrike by Iran, while Iran has openly declared that it will retaliate harshly if attacked.

Iran has previously warned Gulf countries that if they assist in Israel's military operations, Iran will not guarantee the safety of their oil facilities. This threat has made the Gulf countries more cautious, as despite OPEC's capability to handle short-term oil supply disruptions, many oil facilities are within Iran's reach, causing the Gulf nations to tread carefully.

Meanwhile, the U.S. government also has to consider the concerns of the Gulf countries, especially in the event of potential disruptions to global oil supplies. U.S. insiders point out that if oil prices surge to $120 per barrel, it would negatively impact the American economy and could threaten Harris's election prospects. The White House has yet to comment on the matter but stated that President Biden's recent call with Israeli Prime Minister Netanyahu made positive progress.

The Gulf countries further emphasize that most will not permit Israeli planes or missiles to traverse their airspace, though Israel might launch airstrikes through alternative routes such as Jordan or Iraq. The uncertainty of this conflict poses new risks to the global energy market, especially if Gulf countries' oil facilities also become targets, which would severely impact global oil supply.

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