Israel’s natural gas business – and the regional countries it serves – may face challenges as long as the bloody conflict with the Islamist militant group Hamas continues, according to energy analysts.

Following a surprise attack early Saturday, Israel declared war against Hamas. As of Thursday, close to 3,000 people had been killed, including at least 22 Americans. Israel on Monday instructed Chevron Corp. to shutter the Tamar offshore natural gas platform, sited about 60 miles west of Haifa, and closest to Gaza. The Leviathan gas field and platform, north of Tamar and also operated by Chevron, was continuing to operate on Thursday. 

“The shutdown of Chevron’s Tamar natural gas platform…could make it harder for the company to market natural gas in the region,”...