'Please be cautious': Graham urges Israel to avoid Iranian oil targets as global crude prices surge

WASHINGTON, DC: Sen Lindsey Graham urged Israel to exercise restraint in targeting Iran’s fuel infrastructure, warning that attacks on the country’s oil economy could complicate efforts to rebuild if the current regime collapses.

In a post on the social platform X on Monday, March 9, the South Carolina Republican praised Israel’s military capabilities but cautioned against damaging assets that could be vital to Iran’s future.

“Our allies in Israel have shown amazing capability when it comes to collapsing the ... regime in Iran. America is most appreciative,” Graham wrote.

He added that the long-term objective should be empowering the Iranian people rather than weakening the country’s economic foundations.

Lindsey Graham claims oil economy key to Iran's future

Graham argued that Iran’s oil industry would play a crucial role in any post-regime transition. “There will be a day soon that the Iranian people will be in charge of their own fate, not the ayatollah’s regime,” he wrote.

“In that regard, please be cautious about what targets you select. Our goal is to liberate the Iranian people in a fashion that does not cripple their chance to start a new and better life when this regime collapses. The oil economy of Iran will be essential to that endeavor,” he added.

His comments came alongside a link to an Axios report stating that the Trump administration was surprised by Israeli strikes on roughly 30 Iranian fuel depots over the weekend.

Oil markets surge amid conflict fears

Energy markets reacted sharply to the intensifying conflict involving the United States, Israel and Iran.

Global oil prices surged past $100 per barrel early on Monday as concerns mounted over potential disruptions to energy supplies through the Strait of Hormuz, a critical shipping route south of Iran.

Roughly one-fifth of the world’s oil supply typically passes through the narrow waterway. However, tanker traffic has slowed sharply since the conflict involving the United States, Israel and Iran escalated more than a week ago.

Trump and Chris Wright say price spike may be temporary

Energy Secretary Chris Wright said the spike in fuel costs linked to the conflict was likely to be short-lived.

“Look, you never know exactly the time frame of this, but, in the worst case, this is weeks, this is not a months thing,” Wright said during an appearance on CNN’s 'State of the Union'.

President Donald Trump urged oil tanker operators to continue sailing through the Strait of Hormuz despite the risks, saying there was “nothing to be afraid of.” 

In an interview with Fox News, Trump said the military campaign had severely weakened Iranian capabilities to strike vessels.