Afghanistan accuses Pakistan of air attacks on homes in Kabul, Kandahar
Women and children were among those killed in the attacks, according to the Taliban. Listen to this article Listen to this article | 2 mins info Published On 13 Mar 202613 Mar 2026 Click here to share on social media share2 Share plus2googleAdd Al Jazeera on Googleinfo Afghanistan’s Taliban government has accused Pakistan of targeting civilian homes in overnight air attacks in the capital Kabul and the southern province of Kandahar, as fighting between the two neighbours entered its third week, overshadowed by the United States-Israel war on Iran igniting the middle East. Women and children were among those killed in the attacks, according to the Taliban. Recommended Stories list of 3 itemsend of list Government spokesman Zabihullah Mujahid said on X Friday that Pakistan’s aircraft also struck fuel depots belonging to the private airline Kam Air near Kandahar airport. There was no immediate comment from Pakistan’s military or government. Calls for restraint from the international community have gone unheeded by both sides. On Thursday, the Taliban government said four members of the same family, including two children, were killed by Pakistani artillery and mortar fire in eastern Afghanistan. The deaths reported on Thursday brought the toll to seven people killed in Afghanistan since Tuesday in cross-border clashes, according to authorities in Kabul. That could rise with the latest attacks on Friday. Fighting between the two countries intensified on February 26 when Afghanistan launched an offensive along their shared border in retaliation for earlier Pakistani air attacks on the Pakistan Taliban, just two days before the US and Israel attacked Iran, starting a sprawling regional war. Pakistan maintains that it does not target civilians, and casualty claims from both sides are difficult to verify independently. Advertisement Islamabad accuses Kabul of harbouring fighters from the Pakistan Taliban, which has claimed responsibility for a series of deadly attacks inside Pakistan, and from the ISIS (ISIL) affiliate in Khorasan province. Afghan authorities deny the charge. The United Nations mission in Afghanistan has said 56 civilians have been killed there, including 24 children, by Pakistani military operations from February 26 to March 5. Pakistani officials have confirmed about 12 soldiers were killed and 27 wounded in the latest bout of fighting, while the Taliban claims to have killed more than 150. About 115,000 people have been forced to leave their homes, according to the UN. Adblock test (Why?)
How Israel-US war on Iran puts $50bn in Indian remittances at risk
As the United States-Israeli war on Iran completes two weeks, it has triggered a global energy crisis, even as Iran’s retaliation threatens to pull the rest of the Middle East into the conflict. The Strait of Hormuz, through which some 20 to 30 percent of global crude and liquefied natural gas (LNG) pass, has effectively been closed because of the conflict, sending crude prices soaring and disrupting oil and gas supplies. Recommended Stories list of 4 itemsend of list From Southeast Asia to Pakistan, the ripple effects of the war are being felt across Asia and beyond. But one country in particular could face a double whammy if the conflict intensifies: India, the world’s fourth-largest economy, depends on the Gulf for its energy needs and also for remittances sent by a vast workforce resident in the Middle East. We unpack how the war is bleeding India’s economy. Energy shortage More than 80 percent of India’s gas and up to 60 percent of its oil pass through the Strait of Hormuz, which connects the Gulf to the Gulf of Oman and the Arabian Sea and is currently at the centre of retaliatory tactics Iran is deploying against the US and Israel. By threatening all shipping coming through, Iran has effectively closed the strait – leaving Gulf oil producers with no sea route by which to deliver oil and LNG. Most shipping insurers have cancelled war risk coverage for tankers in the strait. Then on Wednesday, a Thai ship heading to India was attacked, drawing criticism from India. Hotels and restaurants in India are already weighing closure and people are queueing to stock up on LPG (cooking gas) cylinders amid fears of a shortage, even though the government assures the public it has approximately one month’s supply in storage. Such is the panic, however, that the government has gone as far as to invoke emergency measures to discourage hoarding, urging people to remain calm. Advertisement Iran has invoked the right to self-defence to justify the retaliatory attacks and has used the strait as leverage in an attempt to end the war. More than 1,300 civilians have been killed and properties have been damaged across Iran amid the US-Israeli attacks. Iran’s tactics seem to be working, as stocks have plunged and oil prices have spiked, reaching nearly $120 a barrel on Sunday before settling at about $100 this week, which is still about $40 more than before the war began. This week, Iran’s Islamic Revolutionary Guard Corps (IRGC) said it would not allow “one litre of oil” to pass the strait, and warned the world to expect oil to reach $200 per barrel. The International Energy Agency’s (IEA) move on Wednesday to release a record 400 million barrels of crude oil has failed to stabilise oil prices. “India’s energy security will be impacted significantly, as it relies on the Middle East for a substantial portion of its energy requirements,” said Harsh V Pant, vice president of the Observer Research Foundation think tank in New Delhi. “Energy markets are already volatile and costs are rising, which could eventually translate into broader economic and inflationary pressures,” he said. Indian expats in the Gulf India is also worried for some 9.1 million of its citizens who work in the Gulf Cooperation Council (GCC) countries – the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain. They send some $50bn in annual remittances back home. If the war is prolonged, Pant says, “it will result in the loss of remittances … part of that also helps in balancing the trade balance”. “It will hurt the wider economic robustness of the Indian economy. India’s hope of continuing to have a high rate of growth will suffer,” Pant said. “It’s not simply a question of energy security – it is also a question of economic security.” Several Indian blue-collar workers and professionals across the Gulf have told Al Jazeera they fear potentially losing jobs if the war escalates further. Several oil and gas firms have shut operations amid the Iranian attacks. “I hope this does not prolong as I support my family with this job,” an Indian construction worker, who chose to remain anonymous, told Al Jazeera. “Every Indian who works in the Gulf supports at least four to five people back home. Forty to 50 million Indians directly benefit from their employment in the Gulf,” Talmiz Ahmad, a former Indian ambassador to Saudi Arabia, told Al Jazeera. Another concern is the physical safety of people amid expanding Iranian attacks. Several Asian workers, including Indians, are among those killed in the Iranian attacks across the Gulf. Indian nationals Ram Krishna, who works on his laptop, and his wife Vijian Lakshmi at a government provided shelter for people living near the US Navy Base during Iranian drone attacks, at Ghazi Al Gosaibi Secondary Girls School in Hamad Town, Bahrain, March 4, 2026 [Hamad I Mohammed/Reuters] Can India evacuate nine million citizens? If the war escalates beyond control, India could be faced with the huge challenge of evacuating its people, who form the largest expatriate community in most Gulf nations. Advertisement Thousands of Western expats have already left or been evacuated by their countries, but the sheer scale of Indian population makes it a logistical nightmare. Some 35 million expats live in the Gulf countries, which have emerged as major economic and aviation hub in addition to the oil wealth. Of them, 9.1 million are from India – almost double the 4.9 million Pakistanis who come in second place. Ahmad, the former Indian ambassador, said that “there is no way, in a war situation, any country, including India, can evacuate nine or 10 million people”. His message to Indians in the region: “We have been shoulder to shoulder with our Gulf brethren in the good times; we will be shoulder to shoulder with them in the bad times.” Ahmad, however, pointed out that India had successfully evacuated nationals in past conflicts, including the 1991 Gulf War, when he was India’s
Iran war: What is happening on day 14 of US-Israel attacks?
Listen to this article Listen to this article | 6 mins info Heavy Israeli strikes have hit Tehran, Iran, as its allies launch attacks across Gulf states, and shipping through the Strait of Hormuz has been severely disrupted, sending global oil prices soaring. Meanwhile, political pressure is mounting in Washington as the conflict spreads across the region. Recommended Stories list of 1 itemend of list Here is what we know about what has been happening in the past 24 hours: In Iran Supreme leader speaks: Appointed last week following the assassination of his father, Iran’s new Supreme Leader Mojtaba Khamenei has issued his first statement, warning that attacks on Israel and US military assets and infrastructure in the Middle East will continue unless bases hosting US forces in the region are closed. Heavy strikes on Tehran: The Israeli military has launched a new “extensive wave” of air attacks on Iran’s capital, Tehran, leaving the city covered in thick smoke on Friday morning. Strait of Hormuz closure and surging oil prices: The Strait of Hormuz, which connects the Gulf to the Gulf of Oman, is closed, causing Brent crude oil prices to surge past $100 per barrel. The strait, which falls into the territorial waters of Iran and Oman, is the only waterway to the open sea available to oil and gas producers in the Gulf. Iran has stated that the strait is under Iranian control and US-and Israel-linked ships are banned. Other vessels must receive Iranian permission to pass. Civilian casualties: Iran’s ambassador to the United Nations, Amir Saeid Iravani, said at least 1,348 civilians have been killed, with victims ranging in age from eight months to 88 years old. A navy vessel is seen sailing in the Strait of Hormuz [Sahar Al Attar/AFP] In Gulf countries Regional retaliation and attacks: Iran has launched waves of drones and missiles towards Gulf countries that host US military assets and troops, and has targeted oil tankers and facilities. Advertisement Bahrain: The nation has reported intercepting 114 missiles and 190 drones since the war began on February 28. Saudi Arabia: The country intercepted 10 drones over its eastern region and later destroyed an additional 28 drones that breached its airspace. Attacks on the UAE: The country has strongly condemned Iranian strikes on the region, and said they have hit Dubai International Airport and some hotels. Evacuations: Australia has ordered all “non-essential” officials to leave the United Arab Emirates and Israel, and urged its citizens to evacuate the Middle East while it is still safe to do so Qatar’s response: Qatar’s airspace is officially closed, but Qatar Airways has scheduled more than 140 special flights to help repatriate stranded residents and citizens. Qatar has strongly rejected Israeli media claims that it intentionally paused liquefied natural gas (LNG) production to manipulate US energy prices; officials clarified that the suspension was actually forced by an Iranian drone attack. A view of the damaged part of the Dubai Creek Harbour tower after it was hit by an Iranian drone attack in Dubai, United Arab Emirates [EPA] In the US Trump claims war moving ‘rapidly’: US President Donald Trump told reporters the war against Iran was moving “very rapidly”. “It’s doing very well, our military is unsurpassed,” he said at the White House, not directly responding to the latest comments from Iran’s new supreme leader. Domestic opposition: More than 250 US organisations have signed a letter calling on Congress to halt funding for the war. They argue the $11.3bn spent in the first six days of the conflict is diverting crucial funds from urgent domestic needs, such as food benefits. No ‘need’ for ground troops in Iran: US Senator Lindsey Graham has played down the possibility of US troops being deployed to Iran, but suggested the war could continue for some time. “I don’t see this conflict ending today,” the Republican senator told reporters in Washington, DC. In Israel New missile wave launched at Israel: The Israeli military said early on Friday that Iran had fired a new barrage of missiles towards Israel, and instructed people in affected areas to head to shelters. Israel strikes Basij force: Israel’s military said it had struck checkpoints set up in Tehran by the Basij force of Iran’s Revolutionary Guards as part of efforts to undermine control by the authorities. Regime change: Israeli Prime Minister Benjamin Netanyahu said Israel can create conditions for regime change, but it is up to Iran’s people to take to the streets. He also said Israel is aiming to stop Iran from moving nuclear and ballistic projects underground. Advertisement In Lebanon, Iraq Downed US aircraft: A US KC-135 refuelling aircraft crashed in western Iraq. While the Islamic Resistance in Iraq claimed it shot the aircraft down using air defence systems, US Central Command (CENTCOM) stated the aircraft went down in “friendly airspace” and was not the result of hostile fire. Iraqi port closures: Iraq has shut its port operations after an Indian crew member was killed during an attack on a US-owned oil tanker in Iraqi waters. Six French soldiers hurt: A drone attack wounded six French soldiers in Erbil, in Iraq’s autonomous Kurdish region, President Emmanuel Macron said on Thursday. Deadly attacks in southern Lebanon: Israeli bombardments continue on southern towns and villages. A strike on the village of Arki, near Sidon, killed nine people, including five children. Mounting death toll and mass displacement: Lebanese officials have reported that at least 687 people have been killed in Israeli attacks on Lebanon since last Monday, including 98 children. The intense bombardments have displaced an estimated 700,000 to 750,000 people from their homes. Adblock test (Why?)
US military ‘not ready’ to escort oil ships through Hormuz, official says
Listen to this article Listen to this article | 4 mins info The United States military is “not ready” to accompany oil ships through the Strait of Hormuz, a top official in President Donald Trump’s administration says as Iran continues to block the strategic waterway. US Energy Secretary Chris Wright told the CNBC business news channel on Thursday that the markets are experiencing a “short-term disruption”, predicting that the war would go on for “weeks, not months”. Recommended Stories list of 3 itemsend of list Despite Trump’s repeated threats, Iran has largely succeeded in shutting down the strait, which links the Gulf to the Indian Ocean. The closure has sent oil prices soaring. Wright described the effects of the crisis as “short-term pain for long-term gain”, arguing that the US is “destroying” Iran’s ability to threaten the energy market. Last week, Trump suggested that the US Navy would escort ships through the Gulf, but Wright said on Thursday that the move “can’t happen now”. “We’re simply not ready. All of our military assets right now are focused on destroying Iran’s offensive capabilities and the manufacturing industry that supplies their offensive capabilities,” the energy secretary said. “We don’t want this to be a brush-off for a year or two. We want to permanently destroy their ability to build missiles, to build roads, to have a nuclear programme.” His comments came as Iran’s new supreme leader, Mojtaba Khamenei, affirmed in his first public comment since being selected to succeed his assassinated father, Ali Khamenei, that the Strait of Hormuz should remain closed during the war. Advertisement “The will of the people is to continue effective and deterrent defence,” Khamenei said in a written statement. “The tactic of closing the Strait of Hormuz must also continue to be used.” The Iranian military has said it would “welcome” the US Navy escorting oil ships, suggesting it is prepared to strike US forces in the narrow waterway. On Wednesday, three commercial vessels were attacked near the strait. Wright announced earlier this week on social media that the US Navy had escorted an oil ship through the strait, then quickly deleted the post. The White House subsequently confirmed that the claim was not true. It is not clear why the statement was released and then retracted. Assurances by US officials that Washington would open the strait have temporarily calmed markets, only for prices to spike again. The price of a barrel of oil peaked at about $120 on Sunday, up from about $70 before the US and Israel launched the war on February 28. It has been yo-yoing between $80 and $100 for the past few days. In addition to the marine blockade, Iran has targeted oil installations across the Gulf. As one of the world’s largest oil producers, the US is largely self-sufficient. But possible shortages in Asia and Europe have put a strain on prices globally. According to data from the American Automobile Association, the average price of one gallon (3.78 litres) of petrol in the US is now $3.60, up from $2.94 last month. Rising energy prices could fuel inflation and affect the cost of basic goods, including food. But Trump suggested on Thursday that the US is benefitting from skyrocketing oil prices. “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” the US president wrote in a social media post. “BUT, of far greater interest and importance to me, as President, is stopping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World.” Iran denies seeking a nuclear weapon, and Trump reiterated for months before the current conflict that US strikes against Iranian facilities in June had “obliterated” the country’s nuclear programme. Adblock test (Why?)
Iran’s new supreme leader issues first statement
NewsFeed Iranian Supreme Leader Mojtaba Khamenei has issued his first statement since being appointed, stating that the Strait of Hormuz will continue to be closed and threatening to open new fronts should the US and Israel continue the war. Published On 12 Mar 202612 Mar 2026 Click here to share on social media share2 Share plus2googleAdd Al Jazeera on Googleinfo Adblock test (Why?)
Iran’s president sets terms to end the war: Is an off-ramp in sight?
Iranian President Masoud Pezeshkian has laid out terms for ending the war with the United States and Israel in what analysts say is a possible sign of de-escalation from Tehran as the US-Israel war on Iran entered its 13th day on Thursday. In a post on Wednesday on social site X, Pezeshkian said he had spoken to his counterparts in Russia and Pakistan, and that he had confirmed “Iran’s commitment to peace”. Recommended Stories list of 4 itemsend of list “The only way to end this war – ignited by the Zionist regime & US – is recognizing Iran’s legitimate rights, payment of reparations, and firm int’l guarantees against future aggression,” Pezeshkian wrote. This is a rare posture from Tehran, which has maintained a defiant stance and initially rejected any possibility of negotiations or a ceasefire when war broke out nearly two weeks ago. Pezeshkian’s statement comes as pressure mounts on the US to halt what has become a very costly mission. Analysts say speculation from Washington that Iran would quickly submit after the killing of Supreme Leader Ayatollah Ali Khamenei were misguided. Tehran is likely going to determine the end of this war, not the US or Israel, because of its ability to inflict economic pain broadly, they say. Amid a military pummelling by the US and Israel, Iran has launched heavy retaliatory strikes at US assets and other critical infrastructure in Gulf countries, upsetting global supplies. It has also adopted what analysts call “asymmetric” tactics – such as disrupting the critical Strait of Hormuz and threatening US banking-linked entities – to inflict as much economic pain on the region and wider world as it can. Advertisement This is what we know about Pezeshkian’s stance and what the pressures are on both sides to draw the conflict to a close, quickly. A building lies in ruins after a strike, amid the US-Israeli conflict with Iran, in Tehran, Iran, on March 12, 2026 [Majid Asgaripour/WANA (West Asia News Agency) via Reuters] What has the war cost so far? Economically, both sides have weaponised energy. Israel first targeted Iran’s oil facilities in Tehran on March 8, prompting an outcry from global health experts over the potential risk of air and water pollution. Iran has, meanwhile, tightened its chokehold on the Strait of Hormuz shipping route – the only route to open sea for oil producers in the Gulf – with its military promising on Wednesday that it has the capabilities to wage a long war that could “destroy” the world economy. Attacks on ships in the strait, through which about 20 percent of global oil and gas traffic normally passes, have effectively closed the route. Oil prices rocketed above $100 per barrel late last week, up from around $65 before the war, with ordinary buyers feeling the increases at pumps in the US, Europe and parts of Africa. On Wednesday, Iran upped the ante, saying it would not allow “a litre of oil” to pass through the strait and warned the world to expect a $200-per-barrel price tag. “We don’t know how quickly it’ll revert back,” Freya Beamish, chief economist at GlobalData TS Lombard, told Al Jazeera. “We do think it’ll revert back to $80 in due course, but the ball is to some degree in Iran’s court,” she said, adding that because Iran needs oil revenue, the price hikes are expected to be time-limited. The International Energy Agency agreed on Wednesday to release 400 million barrels from the emergency reserves of several member states but it is not yet clear what impact that will have, nor how quickly this quantity of oil can be released. Tehran has also been accused of directly attacking oil facilities in neighbouring countries this week. Iraq shut all its oil port operations on Thursday after explosive-laden Iranian “drone” boats appeared to have attacked two fuel tankers in Iraqi waters, setting them ablaze and killing one crew member. A drone was filmed striking Oman’s Salalah oil port on Wednesday, although Tehran has denied involvement. What are Iranian officials saying about ending the war? There has been conflicting messaging from the Iranian leadership. Iran’s elite army unit and parallel armed force, the Islamic Revolutionary Guard Corps (IRGC), continues to show defiance, issuing threats and launching attacks on Israel and US military assets and infrastructure in neighbouring Gulf countries. Advertisement However, the political leadership has appeared more inclined towards diplomacy, analysts say. On Wednesday, President Pezeshkian said that ending the war would take the US and Israel recognising Iran’s rights, paying Iran reparations – although it’s unclear how much is being asked for – and providing strong guarantees that a future war will not be waged. In a video recording last week, he also apologised to neighbouring countries for the strikes and promised that Iran would stop hitting its neighbours as long as they do not allow the US to launch attacks from their territory. “I personally apologise to the neighbouring countries that were affected by Iran’s actions,” the president said, adding that Tehran was not looking for confrontations with its neighbours. However, it is not known how much sway the political leadership has over the IRGC. Hours after the president’s apology last week, air defence sirens went off in Saudi Arabia, Qatar, the UAE and Bahrain, as strikes continued on the Gulf. So, what is Iran’s actual position? “Iran wants to go to the end to make sure that the United States and Israel never attack Iran again … so this has to be the final battle,” Al Jazeera’s Resul Serdar Atas explained. Indeed, the IRGC sees this as an existential war, but the timing of Pezeshkian’s statement about ending the conflict also shows Tehran is pressured economically, politically and militarily, Zeidon Alkinani of Qatar’s Georgetown University told Al Jazeera. “These differences and divisions [between IRGC and political leaders] always existed even prior to this war but we may notice it now more, given the fact that the IRGC believes that it has the right to
UN Security Council adopts resolution condemning Iran’s attacks in the Gulf
UN Security Council draft resolution demanding Iran end its attacks on Gulf nations was cosponsored by 135 countries. Listen to this article Listen to this article | 4 mins info The United Nations Security Council adopted a draft resolution condemning Iran’s attacks on Gulf countries and Jordan, demanding that Tehran immediately halt hostilities. Thirteen of the 15 members of the UNSC voted on Wednesday in favour of the resolution sponsored by the Gulf Cooperation Council (GCC) and cosponsored by an extraordinary 135 other UN member states. Recommended Stories list of 4 itemsend of list No countries voted against the draft. “It was overwhelming. It was 13 votes on the Council in favour, two abstentions,” Al Jazeera’s Gabriel Elizondo said, reporting from UN headquarters in New York. “Both China and Russia abstained but notably decided not to use their veto power to block this resolution, probably because it got a lot of support, not only in the Security Council but with other member states – 135 other countries cosponsored this resolution that has now been adopted,” Elizondo said. “We believe that this is the largest number of countries ever to cosponsor a Security Council draft resolution,” he said. The resolution condemns Iran’s attacks, demands an immediate halt to hostilities, and deplores Tehran’s targeting of infrastructure such as ports and energy facilities in the Gulf region. “The resolution is very clear; it is now part of international law. The question becomes, will Iran abide by it? We will find out in the coming hours and days,” Elizondo said. ‘Profound regret’ After the vote, Iran’s UN Ambassador Amir-Saeid Iravani addressed the Council, expressing his “profound regret” at the adoption of the resolution. Advertisement “This is a deeply regrettable day for the Security Council and for the international community. Today’s adoption is a serious setback to the Council’s credibility and leaves a lasting stain on its record,” Iravani said. “Today’s action represents a blatant misuse of the Security Council mandate,” he said, blasting the United States for its “barbaric war against the Iranian people” and for starting the conflict, including killing Iran’s Supreme Leader Ali Khamenei. “This resolution is a manifest injustice against my country, the main victim of a clear act of aggression. It distorts the realities on the ground and deliberately ignores the root causes of the current crisis,” Iravani said, accusing the US and Israel of being behind the resolution. Iravani also said more than 1,348 civilians have been killed and more than 17,000 injured since the US and Israel launched their attack on February 28, including the “massacre of 170 schoolgirls in Minab”. More than 19,000 civilian sites, including residential homes and hospitals, have also been damaged, he added. Addressing the council, Russia’s ambassador to the UN, Vassily Nebenzia, said his country abstained from the vote on the draft resolution “because it was extremely unbalanced” and would not fulfil the purpose “of meeting international peace and security”. “We regret the situation that Middle Eastern countries find themselves in. Moreover, we think it unacceptable to strike civilian infrastructure of Arab states in the Gulf,” Nebenzia said. China’s ambassador to the UN Zhang Jun told the council that the conflict had “neither legitimacy nor legal basis” and the US and Israel must cease their attacks to prevent further deterioration of the regional situation. The UNSC also voted, but failed to pass, a draft resolution put forward by Moscow on Wednesday that called on all sides to cease military action in the Middle East. Adblock test (Why?)
Fuel tank fire rages in Bahrain after Iranian attack
NewsFeed The Bahraini interior ministry released footage of a massive blaze at a fuel storage facility following an Iranian attack. Bahrain hosts the US Navy’s Fifth Fleet and has been consistently targeted amid the US-Israeli initiated war. Published On 12 Mar 202612 Mar 2026 Click here to share on social media share2 Share plus2googleAdd Al Jazeera on Googleinfo Adblock test (Why?)
Fire erupts at Gaza camp after Israeli attack hits tents
NewsFeed Fire broke out at tents sheltering displaced Palestinians in Gaza’s Al-Ansar refugee camp after an Israeli strike. Civil defence teams responded quickly and began to extinguish the blaze. Gaza officials said Israel continues to violate the ceasefire daily. Published On 12 Mar 202612 Mar 2026 Click here to share on social media share2 Share plus2googleAdd Al Jazeera on Googleinfo Adblock test (Why?)
Oil prices swing wildly amid mixed messages over Iran war
Crude oil prices fall sharply as energy markets remain on tenterhooks over effective closure of the Strait of Hormuz. Listen to this article Listen to this article | 4 mins info Published On 11 Mar 202611 Mar 2026 Click here to share on social media share2 Share plus2googleAdd Al Jazeera on Googleinfo Oil prices are seeing dramatic swings as traders struggle to make sense of mixed messages about the impact of the United States and Israel’s war on Iran. Brent crude, the international benchmark, on Tuesday plunged 17 percent to fall below $80 a barrel, then rebounded to near $90 after US Secretary of Energy Chris Wright posted on the X platform – but then quickly deleted – a claim that the US Navy had escorted an oil tanker through the Strait of Hormuz. Recommended Stories list of 4 itemsend of list White House Press Secretary Karoline Leavitt later told reporters that there had been no armed escort through the strait, which has been effectively closed to shipping in the region due to Iranian threats. Oil prices fell sharply again early on Wednesday after The Wall Street Journal reported that the International Energy Agency was considering the largest release of oil reserves in its history to help keep global supplies stable. Brent crude futures were hovering below $85 a barrel as of 02:00 GMT following the news. After rising as much as 50 percent to nearly $120 a barrel before falling, oil prices still remain about 17 percent higher than they were before the US and Israel launched joint strikes on Iran on February 28. Global energy markets have been on tenterhooks amid the near halt of traffic through the Strait of Hormuz, through which about one-fifth of the global oil supply transits, as well as attacks on energy facilities across the Middle East. The effective closure of the waterway has forced Saudi Arabia, the United Arab Emirates, Kuwait and Iraq to cut oil production amid a growing stock of barrels with nowhere to go and depleting storage capacity. A cargo ship sails off the coast of the city of Fujairah, the UAE, on February 25, 2026 [Giuseppe Cacace/AFP] Threat of Iranian sea mines A sustained rise in oil prices would have serious knock-on effects for the global economy, pushing up the cost of everyday goods and dragging down growth. Advertisement According to an analysis by the International Monetary Fund, every 10 percent rise in oil prices corresponds with a 0.4 percent rise in inflation and a 0.15 percent reduction in economic growth. US petroleum prices have risen about 17 percent since the start of the war, while authorities in South Korea, Thailand, Bangladesh and Pakistan have introduced measures such as price caps and rationing to keep costs down. US President Donald Trump has repeatedly stated that the US Navy could be deployed to keep the strait open “if necessary”. Some analysts have cast doubt on the feasibility of such plans due to the massive backlog of ships in the region and the threat of drone and missile attacks from nearby Iranian shores. The US military said on Tuesday that it had attacked 16 Iranian mine-laying vessels near the strait after Trump had earlier warned Tehran against placing mines in the waterway. Trump and administration officials have also given conflicting accounts of how long the war might last, exacerbating unease in energy markets. On Tuesday, Trump said he expected the war to be over “very soon”, but he also said that US attacks on Iran would not stop “until the enemy is totally and decisively defeated”, and US forces had still not “won enough”. “Analysts talk about geopolitical risk constantly, but most of the time, it remains hypothetical. What we saw this week was the market briefly treating that risk as real and repricing supply disruption in earnest,” Chad Norville, president of industry publication Rigzone, told Al Jazeera. “At the same time, escorting a single tanker does not materially change the supply equation when well over a hundred vessels typically move through the strait each day. What the market is really trying to determine is whether the overall flow of oil can revert to normal operations,” Norville said. Adblock test (Why?)