Israel's Haifa-based Bazan Group said all refinery facilities have been shut down after a power station used to produce steam and electricity were significantly damaged in an attack by Iran, according to a regulatory filing on Monday.

War risk premiums to Israel are still below a peak of over 2% in November 2023 that were quoted after a Hamas attack on Israel killed 1,200 people and triggered the Israeli invasion of Gaza. Individual underwriters will price risk and rates differently, but this will add tens of thousands of dollars of extra daily costs for every voyage.

Iran's missile attack has shut down Israel's largest oil refinery in Haifa, killing three employees and sparking massive fires. The escalation marks the deadliest phase yet in the ongoing Iran-Israel conflict.