Suddenly! India, strikes back! Iran: U.S. military rescue "mission failed"

Energy Infrastructure Attacked Again!

On April 5, local time, an oil-storage facility under Bahrain National Oil Company came under an attack by an Iranian drone, causing a storage tank to catch fire. The same day, a petrochemical plant in Abu Dhabi triggered a fire after air-defense intercepted debris; the plant has suspended operations. In addition, Kuwait said that two power-generation and seawater desalination plants were attacked by Iranian drones, resulting in major property damage.

Meanwhile, against the backdrop of the Middle East conflict driving oil prices soaring, Indian refining companies have started purchasing Iranian crude oil—marking the first time in seven years that India has bought crude oil from Iran. On local time on the 5th, OPEC+ held a meeting. A representative attending the meeting said that OPEC+ plans to symbolically increase its oil production quota and, in principle, agreed to raise the daily production quota by 206,000 barrels.

That day, an Iranian military spokesperson said that the U.S. military rescue mission for a pilot “failed,” and that two of its “Black Hawk” helicopters and a C-130 transport aircraft were shot down. Previously, U.S. President Trump said the missing pilot had been rescued. According to reports from U.S. media, the rescued U.S. pilot has been sent to Kuwait for treatment.

Iran: “Failed” U.S. Military Rescue Mission for the Pilot

Citing Iran’s Tasnim News Agency, Xinhua News Agency reported on the 5th that the U.S. attempt to enter Iranian territory to rescue a combat aircraft pilot who had previously been shot down was “unsuccessful,” and that the enemy aircraft involved in the operation “were shot down.”

The report quoted remarks from the spokesperson of Iran’s Armed Forces’ Hatem al-Anbia Central Headquarters, saying that forces including the Islamic Revolutionary Guard Corps and the Iranian Islamic Republic Army took timely measures and launched joint operations, thwarting the enemy’s attempt to rescue its shot-down combat aircraft pilot.

The spokesperson said that in southern Isfahan Province, two “Black Hawk” helicopters and a C-130 transport aircraft were shot down.

On the 5th, Kalibaf, Speaker of the Islamic Consultative Assembly, posted a photo of aircraft wreckage on social media and commented that if the United States achieved such a “victory” again, it would be “completely destroyed.” Kalibaf wrote: “If the United States achieves 3 more such victories, it will be completely destroyed.”

Also, according to a report by the U.S. newspaper The New York Times on the 5th, the second pilot aboard the U.S. Air Force F-15E fighter that was shot down earlier has been sent to Kuwait for treatment. During the process of rescuing that pilot, the U.S. military blew up two “stranded” U.S. transport aircraft tasked with the rescue operation.

India’s First Purchase of Iranian Oil in Seven Years

On Saturday, local time, India’s Ministry of Petroleum said that amid the Middle East conflict disrupting oil supply through the Strait of Hormuz, Indian refining companies have purchased Iranian oil.

India is the world’s third-largest oil importer and consumer. Since May 2019, the country has not received Iranian crude oil cargoes. At that time, under pressure from the United States, India stopped purchasing Iranian crude oil. But now, the supply disruption caused by the Middle East conflict has dealt a clear blow to this South Asian country.

The Ministry of Petroleum wrote on the X platform: “With disruptions to Middle East supply, Indian refining companies have secured crude oil demand, including through purchases from Iran; there are no payment barriers to importing Iranian crude oil.”

These remarks are unusually explicit public acknowledgments of India’s energy ties with Iran. Last month, the United States temporarily lifted sanctions on Iranian oil and petroleum products to ease supply shortages. On local time on March 20, the United States approved a 30-day authorization, with conditional easing of sanctions on Iranian oil products; for Iranian crude oil and petroleum products that had already been loaded as of March 20, delivery and sales are allowed.

The Indian Ministry of Petroleum added that India has secured all the crude oil supply needed for the coming months. “India imports crude oil from more than 40 countries, and related companies can flexibly procure oil from different channels and regions based on commercial considerations.” In addition, India also purchased 44,000 tons of Iranian liquefied petroleum gas; the cargo was transported by a sanctioned vessel. The Ministry of Petroleum said that the vessel berthed at Mangalore Port on India’s west coast on Wednesday and is currently unloading fuel.

It is worth noting that the Middle East is not only an important energy hub, but also a major exporter of fertilizers. As the conflict between the U.S. and Israel with Iran continues to escalate and shipping through the Strait of Hormuz is affected, this has also exposed global fertilizer supply to risk.

As a major agricultural country, India is also a major fertilizer importer. Recently in India, some farmers have said they are worried about fertilizer supply and the planting season. The Indian government is currently stabilizing fertilizer supply through measures such as raising subsidies and strengthening allocations. At present, fertilizer product prices in the market are generally relatively stable, but as the farming season approaches, demand for fertilizers will rise rapidly, and supply-demand contradictions may further intensify.

Energy Facilities in Multiple Locations in the Middle East Attacked

On the 5th, local time, a storage oil facility under Bahrain National Petroleum was hit by an Iranian drone attack, causing a storage tank to catch fire. The fire has now been completely put out, and the situation is under control. The company is assessing the losses caused by the attack and, for now, has not reported any casualties.

On the same day, the Media Office of Abu Dhabi in the United Arab Emirates said that the Borouge petrochemical plant triggered multiple fire incidents after debris generated by intercepted incoming projectiles was produced by the air-defense system; so far, there have been no reports of casualties.

The notice said that after the fire broke out, the relevant emergency departments promptly handled the situation. Currently, the plant has suspended operations, and a decision on when to resume operations will be made after further assessment of losses.

According to CCTV News, in a statement released in the early hours of April 5, local time, Kuwait’s Ministry of Electricity, Water and Renewable Energy said that two Kuwait power-generation and seawater desalination plants were attacked by Iranian drones, resulting in major property damage. The two power-generation unit sets were shut down, and there are no reports of casualties. The statement said that technical and emergency teams are carrying out work in line with emergency response plans to ensure normal operation of the power and water supply systems.

Some overseas media outlets noted that currently, there are no signs that the Iranian war is easing, and the destruction it causes may continue to be visible for years to come. In the Gulf region, liquefied natural gas export terminals, airports, and energy facilities have all been damaged. At sea, the closure of the Strait of Hormuz cuts off a key supply corridor for the global energy market.

The shockwave has reached global markets. In recent weeks, oil prices have surged by more than 50%, and gains in refined products such as diesel and aviation fuel have been even faster. As investors respond to increasing risks of regional conflicts becoming long-term, stock markets have turned into broad declines this year.

In a recent client report, Capital.com analyst Danira Hasson wrote: “The market is no longer trading hopes for a de-escalation of the conflict—it is trading the possibility of escalation. Unless there is credible evidence that the conflict is heading toward resolution, the market is likely to remain defensive, with elevated volatility and risk skewed to the downside.”

Proofread by: Zhu Tianting