TEHRAN, Iran -- An earthquake struck a key port city in southern Iran early Wednesday, injuring at least 700 people and cutting power and telephone lines, the state news agency reported.

IRNA said 100 of the injured had been hospitalized while the rest were minor cases.

The 4.9-magnitude quake struck Bandar Abbas at 2:56 a.m. local time, sending residents streaming into the streets. Bandar Abbas is home to a large oil refinery that primarily serves the domestic market.

The broadcast said there were no reports of deaths in the quake, which hit 850 miles (1,367 kilometers) south of the capital.

Iran is located on seismic fault lines and is prone to earthquakes. It experiences at least one slight earthquake everyday on average.

Some 26,000 people were killed by a 6.6-magnitude quake that flattened the historic southeastern city of Bam in the same region in 2003.