Ship attacks in Gulf intensify as Israel launches new strikes in Lebanon

Explosions have been reported on two foreign oil tankers in the Persian Gulf off Iraq, killing at least one person, according to authorities.

The latest attacks mark an escalation in the conflict between Iran and US-Israeli forces, raising the number of ships struck in the region since fighting began to at least 16.

Shipping in the Gulf and along the narrow Strait of Hormuz, which carries around a fifth of the world’s oil, has come to a near-standstill since the US and Israel began strikes on Iran on February 28, sending global oil prices surging to highs not seen since 2022.

Saudi Arabia says it has intercepted 18 drones, while authorities in Dubai say nobody was injured after a drone fell on an apartment building, even as the Israeli military launched another wave of strikes at Hezbollah targets in Lebanon, saying it’s a response to rockets fired at Israel

President Donald Trump maintains the US is “not finished yet” when asked about the war in Iran.

The economic shocks of the war continue, with the price of Brent crude oil again climbing to $100 a barrel.

Earlier, 32 members of the International Energy Agency agreed to their “largest ever” release of oil reserves, in an effort to calm markets.