US and Israel Plan Strikes on Iranian Energy Infrastructure, CBS Reports

The United States and Israel are planning a bombing campaign targeting energy infrastructure in Iran, with strikes potentially occurring this weekend, CBS News reported on Friday, citing unnamed sources. The plan has not yet received final approval from the U.S. President, according to the report.

Details of the Reported Plan

The potential military operation would be a joint U.S.-Israeli effort and was described as "one of the harshest yet" against Iran's critical energy sector, CBS reported. The plan is reportedly contingent on a final go-ahead from the U.S. administration.

Details on the specific targets within Iran's vast energy infrastructure were not provided. The report underscores a significant potential escalation in the long-running geopolitical tensions in the Middle East.

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Potential Market Impact

The timing of the potential strikes is a key consideration for financial markets. According to CBS, there were discussions about concluding the operation before markets open on Monday, a move that could be intended to allow traders and institutions to assess the fallout over the weekend rather than during active trading hours.

An attack on the energy assets of a major crude producer like Iran would almost certainly introduce significant volatility into global commodity markets. Such an event would likely cause a sharp spike in oil benchmarks like Brent and WTI crude futures due to fears of supply disruptions and a heightened geopolitical risk premium.