Investing.com -- RBC Capital highlighted the deepening Middle Eastern energy crisis in a note on Thursday, as attacks on key regional infrastructure escalate, warning that investors should not assume a quick resolution.

Helima Croft, head of global commodity strategy and MENA research, said the conflict has entered “a potentially dangerous new chapter” after Israel’s strike on the South Pars Gas Field triggered a series of Iranian retaliatory attacks.

Iranian strikes have already hit Qatar’s Ras Laffan and targeted Abu Dhabi’s Habshan Gas Facility, with threats also issued against the UAE’s Al Hasan Gas Field and Saudi Arabia’s Jubail Petrochemical Complex and Samref Refinery.

RBC Capital noted that the Strait of Hormuz remains effectively under Iranian control, and President Trump’s options to contain the crisis “have been decidedly limited.”

RBC Capital stated that officials have tried to reassure markets that the disruption will be short-lived, but “nothing points to a limited engagement at this juncture.”

Croft highlighted growing concern that ground forces may be required to secure the Strait amid expanding threats reaching ports across the Red Sea.

RBC Capital also cautioned investors against leaning on the so-called TACO trade, saying “there may be too much emphasis on the ‘TACO’ trade, as Iran could continue attacks, even if President Trump seeks to call time.”

The firm added that Iran does not need to maintain its current pace of strikes to disrupt exports and that a “relatively deep bench” of IRGC officials could sustain operations.