Tehran, Mar 13: The price of Brent crude oil, the international standard, spiked back over $100 as Iranian strikes hit ships in the regions waters and the ongoing American-Israeli war with Iran showed so signs of slowing.
Thursday’s major developments include Iranian attacks against commercial ships around the Strait of Hormuz and Iraq’s port of Basra, escalating a campaign of squeezing the oil-rich Gulf region as global energy concerns mount. The U.S. campaign of airstrikes in Iran is now in its 13th day.
The Israeli military is also striking Iran and its militant ally Hezbollah in Lebanon, where more than 800,000 people have been displaced by the fighting.
Iranian drone strikes hit Dubai and Kuwait on Thursday, damaging buildings and Kuwait International Airport, though no casualties were reported.
At least 19 commercial ships and an oil rig in the Persian Gulf and wider region have been targeted so far, disrupting shipping and power infrastructure in Kuwait.