Israel attacked the South Pars petrochemical plant in Asaluyeh, which accounts for about half of Iran's petrochemical output.
The strike targets facilities responsible for 85% of Iran's petrochemical exports, following a previous hit on Mahshahr plant.
Iran retaliated with four missile rounds toward Israel, while UAE, Saudi Arabia and Kuwait intercepted incoming strikes.
Oil prices fell after the news but remain high due to concerns over a prolonged Strait of Hormuz closure.