Iran Keeps up Pressure on Oil Infrastructure as Concerns of Global Energy Crisis Grow

Rocket trails are seen in the sky above the Israeli center coastal city of Netanya amid a fresh barrage of Iranian missile attacks on March 11, 2026. (AFP)
Rocket trails are seen in the sky above the Israeli center coastal city of Netanya amid a fresh barrage of Iranian missile attacks on March 11, 2026. (AFP)
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Iran Keeps up Pressure on Oil Infrastructure as Concerns of Global Energy Crisis Grow

Rocket trails are seen in the sky above the Israeli center coastal city of Netanya amid a fresh barrage of Iranian missile attacks on March 11, 2026. (AFP)
Rocket trails are seen in the sky above the Israeli center coastal city of Netanya amid a fresh barrage of Iranian missile attacks on March 11, 2026. (AFP)

Israel and Iran exchanged fire early Wednesday, with Tehran keeping up pressure on the region's oil industry and targeting infrastructure as global energy concerns mounted and the war in the Middle East showed no signs of abating.

Early Wednesday, a projectile hit a container ship off the coast of Oman in the Strait of Hormuz, setting it ablaze and forcing the crew to abandon the vessel, the British military said. Kuwait said its defenses downed eight Iranian drones and Saudi Arabia said it intercepted five drones heading toward the Kingdom’s Shaybah oil field.

Iran has effectively stopped cargo traffic in the narrow strait through which about a fifth of all oil is shipped from the Gulf toward the Indian Ocean. It has also targeted oil fields and refineries in Gulf Arab nations as part of a strategy apparently aimed at generating enough global economic pain to pressure the United States and Israel to end their strikes.

The UN Security Council was to vote later in the day on a resolution sponsored by the Gulf Cooperation Council demanding Iran stop attacking its Arab neighbors.

Israel said it had renewed attacks on Tehran, following multiple strikes the day before that residents described as some of the heaviest during the war.

Explosions were also heard in Beirut and in southern Lebanon after Israel said it had started a new assault on targets related to the Iran-linked militia Hezbollah.

Israel pounds Lebanon with new wave of attacks

The attacks set a building ablaze in central Beirut in the densely populated Aisha Bakkar area, engulfing the top two floors of the multistory structure. There were no immediate reports of casualties from the strike, which came without warning.

An earlier Israeli strike killed five people in the Nabatieh district in southern Lebanon, while two more were killed in strikes in the Tyre and Bint Jbeil districts, Lebanon's Health Ministry said. A Red Cross worker also died Wednesday of wounds sustained Monday, when his team was hit by an Israeli strike while they were rescuing people from an earlier attack.

Nearly 500 people have been killed so far in Lebanon since Hezbollah triggered the latest round of fighting with Israel when it fired rockets into the country’s north after the American and Israeli attacks on Iran started.

Iran launches multiple salvoes at Israel and Gulf nations

Israel warned of three Iranian attacks early Wednesday, with sirens heard in Tel Aviv and elsewhere but no immediate reports of casualties.

In addition to Iranian attacks targeting Saudi Arabia's oil fields, the Kingdom's defense ministry said it had destroyed six ballistic missiles launched toward Prince Sultan Air Base in eastern Saudi Arabia. The ministry also said it intercepted and destroyed two drones over the eastern city of Hafar al-Batin.

In the Strait of Hormuz north of Oman, a cargo ship was hit with a projectile and set on fire, according to the United Kingdom Maritime Trade Operations center, run by the British military.

Iran did not immediately claim the attack though it has been targeting ships in and around the strait.

The UKMTO earlier reported on another attack targeting a container ship off Ras al-Khaimah in the United Arab Emirates. In that case, it said the “extent of the damage is currently unknown but under investigation by the crew.”

The United Arab Emirates said early Wednesday that its air defenses were working to intercept incoming Iranian fire. The nation said Iranian attacks have killed six people and wounded 122 others there.

Bahrain sounded sirens early Wednesday, warning of an incoming Iranian attack. The warnings came a day after an Iranian attack hit a residential building in the capital, Manama, and killed a 29-year-old woman and wounding eight people.

At the United Nations, the Security Council was to vote Wednesday afternoon on the Gulf Cooperation Council resolution, according to three diplomats speaking on condition of anonymity ahead of an official announcement.

The council, a six-nation regional bloc, said its own facilities were targeted in an Iranian attack last week on Bahrain.

The draft resolution, obtained by The Associated Press, condemns Iran’s attacks on Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Jordan. The measure calls for an immediate end to all strikes and threats against neighboring states, including through proxies.

It would be the first Security Council resolution considered since the start of the war.

Oil prices stay high

Oil prices remained well below the peaks Monday but the price of Brent crude, the international standard, was still up some 20% Wednesday from when the war began, and consumers around the world are already feeling the pain at the pump.

The spike in oil prices has been rocking financial markets worldwide because of worries that the war could block the global flow of oil and natural gas for a long time.

The US military said Tuesday it had destroyed 16 Iranian minelayers near the Strait of Hormuz, though US President Donald Trump said in social media posts that there were no reports yet of Iran mining the passage, a prospect that experts warned of preceding the war.

If the strait is mined, it could take at least weeks to clean it up once the conflict is over.

Some tankers, believed linked to Iran, are continuing to get through the strait making so-called “dark” transits -- meaning they aren’t turning on their Automatic Identification System tracks, which show where vessels are. Vessels carrying sanctioned Iranian crude often turn off their AIS trackers.

The security firm Neptune P2P Group said Wednesday there had been seven ships pass through the strait since March 8. Of them, five were linked to Iranian-associated shipping, it said. In ordinary times the strait typically sees 100 ships or more transit daily from the Gulf into the Gulf of Oman.

Meanwhile, the commodity-tracking firm Kpler said Iran has restarted crude exports through its Jask oil terminal on the Gulf of Oman. A tanker loaded roughly 2 million barrels at Jask on March 7, it said.

Foreign nationals flee region as death tolls rise

In addition to the nearly 500 people killed in Lebanon, Iran has said more than 1,300 people have been killed there and Israel has reported 12 people dead.

The US has lost seven soldiers while another eight have suffered severe injuries.

Many foreign nationals have been getting out of the Gulf region since the war began, including over 45,000 UK citizens, the British Foreign Office said. Some 40,000 people returned to the United States, according to the State Department.



Iran Tells World to Get Ready for Oil at $200 a Barrel as It Fires on Merchant Ships

Commercial vessels are pictured offshore in Dubai on March 11, 2026. (AFP)
Commercial vessels are pictured offshore in Dubai on March 11, 2026. (AFP)
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Iran Tells World to Get Ready for Oil at $200 a Barrel as It Fires on Merchant Ships

Commercial vessels are pictured offshore in Dubai on March 11, 2026. (AFP)
Commercial vessels are pictured offshore in Dubai on March 11, 2026. (AFP)

Iran said the world should be ready for oil at $200 a barrel as its forces hit merchant ships on Wednesday and the International Energy Agency recommended a massive release of strategic reserves to dampen one of the worst oil shocks since the 1970s.

The war unleashed with joint US and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into Lebanon and thrown global energy markets and transport into chaos.

Despite what the Pentagon has described as the most intense airstrikes since the start of the war, Iran also fired at Israel and targets across the Middle East on Wednesday, demonstrating it can still fight back.

On Wednesday, three vessels were reported to have been hit in Gulf waters as Iran's Revolutionary Guards said their forces had fired on ships in the Gulf that had disobeyed their orders.

US President Donald Trump suggested the campaign would not last much longer, telling Axios news website there was "practically nothing left" to target in Iran.

"Any time I want it to end, it will end," he said in a telephone interview.

Oil prices, which shot up earlier in the week to nearly $120 a barrel before settling back to around $90, rose more than 4% on Wednesday amid renewed fears about supply disruption, while Wall Street's main share indexes fell in morning trade.

Previously, stock markets had rebounded as investors bet on Trump ‌finding a quick exit.

But ‌other signs pointed to a continuation of fighting which has seen ports and cities in the Gulf states as ‌well as ⁠targets in Israel hit ⁠by drone and missile barrages from Iran, adding urgency to calls from Türkiye and Europe to end the fighting.

An Israeli military official said the military still had an extensive list of targets to hit in Iran, including ballistic missile and nuclear-related sites.

'LEGITIMATE TARGETS"

So far there has been no sign that ships can safely sail through the Strait of Hormuz, the now-blockaded channel along the Iranian coast that serves as a conduit for around a fifth of the world's oil.

Trump said on Wednesday that ships "should" transit through the Strait but sources said Iran had deployed about a dozen mines in the channel, further complicating the blockade.

The US military told Iranians to stay clear of ports with Iranian navy facilities, drawing a warning from Iran's military that if the ports were threatened, economic and trade centers in the region would be "legitimate targets".

With prices at the pumps already surging in some countries and Trump's Republican Party trailing badly in the polls ahead of midterm elections, oil ⁠prices have become an increasingly urgent element in the calculations behind the war.

The International Energy Agency, made up of major oil consuming ‌nations, recommended releasing 400 million barrels from global strategic reserves to stabilize prices, the biggest such intervention in history, which ‌was swiftly endorsed by Washington.

But the rate at which countries can release strategic reserves will vary and the amount released would account for just a fraction of the supply through the Hormuz Strait.

Iranian ‌officials made clear on Wednesday they intended to impose a prolonged economic shock as the war continues.

"Get ready for oil to be $200 a barrel, because the oil price ‌depends on regional security, which you have destabilized," Ebrahim Zolfaqari, spokesperson for Iran's military command, said in comments addressed to Washington.

After offices of a bank in Tehran were hit overnight, Zolfaqari said Iran would respond with attacks on banks that do business with the US or Israel. People across the Middle East should stay 1,000 meters from banks, he added.

At sea, a Thai-flagged bulk carrier was set ablaze, forcing the evacuation of crew, with three people reported missing and believed trapped in the engine room.

Two other ships, a Japanese-flagged container ship and a Marshall Islands-flagged bulk carrier, were also reported to have sustained ‌damage from projectiles, bringing the number of merchant ships that have been hit since the war began to 14.

IRANIAN OFFICIAL SAYS MOJTABA KHAMENEI LIGHTLY WOUNDED

In Iran, huge crowds took to the streets for funerals for top commanders killed in airstrikes. They ⁠carried caskets and brandished flags and portraits of ⁠slain Supreme Leader Ali Khamenei and his son and successor, Mojtaba.

An Iranian official told Reuters that Mojtaba Khamenei had been lightly wounded early in the war, when airstrikes killed his father, mother, wife and a son. He has not appeared in public or issued any direct message since the war began.

The Iranian military said on Tuesday it had launched missiles at targets including a US base in northern Iraq and at targets in central Israel. Explosions rang out in Bahrain, while in Dubai four people were wounded by two drones that crashed near the airport.

In Tehran, residents said they were growing accustomed to nightly airstrikes that have sent hundreds of thousands of people fleeing to the countryside and contaminated the city with black rain from oil smoke.

"There were bombings last night but I did not get scared like before. Life goes on," Farshid, 52, told Reuters by phone.

'NO TIME LIMIT', SAYS ISRAEL

Despite calls from Trump for Iranians to rise up, US and Israeli hopes that Iran's system of clerical rule would be overthrown by popular protest have not been borne out.

Iran's police chief, Ahmadreza Radan, said on Wednesday anyone taking to the streets would be treated "as an enemy, not a protester. All our security forces have their fingers on the trigger".

A senior Israeli official told Reuters Israeli leaders now privately accepted that Iran's ruling system could survive the war. Two other Israeli officials said there was no sign Washington was close to ending the campaign.

US and Israeli officials say their aim is to end Iran's ability to project force beyond its borders and destroy its nuclear program.

Israel's Defense Minister Israel Katz said on Wednesday the operation "will continue without any time limit, as long as required, until we achieve all objectives and win the campaign".


Trump Says He Is Not Worried About Iran-Backed Attacks on US Soil

US President Donald Trump addresses the media before departing the White House, Washington, DC, USA, 11 March 2026. President Trump is due to deliver a speech in Kentucky later in the day. (EPA)
US President Donald Trump addresses the media before departing the White House, Washington, DC, USA, 11 March 2026. President Trump is due to deliver a speech in Kentucky later in the day. (EPA)
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Trump Says He Is Not Worried About Iran-Backed Attacks on US Soil

US President Donald Trump addresses the media before departing the White House, Washington, DC, USA, 11 March 2026. President Trump is due to deliver a speech in Kentucky later in the day. (EPA)
US President Donald Trump addresses the media before departing the White House, Washington, DC, USA, 11 March 2026. President Trump is due to deliver a speech in Kentucky later in the day. (EPA)

President Donald Trump said on Wednesday he was not worried about Iran-backed attacks on US soil, as the Federal Bureau of Investigation warned of Iranian drones potentially striking the US West Coast, ABC News reported.

The US and Israel carried out strikes on Iran nearly two weeks ago, launching the Gulf region into a war. Tehran has carried out retaliatory strikes in response to the US-Israeli strikes that killed top Iranian officials, including ‌the country's supreme ‌leader.

When asked on Wednesday if he ‌was ⁠worried that Iran ⁠may increase it retaliation to include strikes on US soil, Trump told reporters, "No, I'm not."

ABC News later reported that the FBI had warned police departments in California that Iran could retaliate for US attacks by launching drones at the West Coast.

"We recently acquired information that as ⁠of early February 2026, Iran allegedly aspired ‌to conduct a surprise ‌attack using unmanned aerial vehicles from an unidentified vessel off the coast ‌of the United State Homeland, specifically against unspecified targets ‌in California, in the event that the US conducted strikes against Iran,” the FBI wrote in an alert distributed at the end of February, according to ABC News.

"We have ‌no additional information on the timing, method, target, or perpetrators of this alleged attack."

Spokespeople ⁠for the ⁠FBI, Los Angeles Police Department, California governor and Los Angeles mayor did not immediately respond to requests for comments.

Reuters reported earlier this month that Iran and its proxies could target the US with attacks in response to US strikes.

A threat assessment produced by the Office of Intelligence and Analysis at the Department of Homeland Security said Iran and its proxies "probably" pose a threat of targeted attacks on the United States, although a large-scale physical attack was unlikely.


UN Urges ‘Exemptions’ to Get Aid Through Strait of Hormuz

Tom Fletcher, Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, gives an update on the hyper-prioritized plan of the 2026 Global Humanitarian Overview (GHO) to media during a press conference at the European headquarters of the United Nations in Geneva, Switzerland, 11 March 2026. (EPA)
Tom Fletcher, Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, gives an update on the hyper-prioritized plan of the 2026 Global Humanitarian Overview (GHO) to media during a press conference at the European headquarters of the United Nations in Geneva, Switzerland, 11 March 2026. (EPA)
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UN Urges ‘Exemptions’ to Get Aid Through Strait of Hormuz

Tom Fletcher, Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, gives an update on the hyper-prioritized plan of the 2026 Global Humanitarian Overview (GHO) to media during a press conference at the European headquarters of the United Nations in Geneva, Switzerland, 11 March 2026. (EPA)
Tom Fletcher, Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, gives an update on the hyper-prioritized plan of the 2026 Global Humanitarian Overview (GHO) to media during a press conference at the European headquarters of the United Nations in Geneva, Switzerland, 11 March 2026. (EPA)

The United Nations aid chief warned Wednesday that the Middle East war was impacting aid routes and called for "exemptions" so humanitarian supplies could get through.

The war in the Middle East has effectively closed the Strait of Hormuz, while fuel supply disruptions are sending freight rates soaring.

UN aid chief Tom Fletcher warned that the escalating war and its impact on the strait was having "a direct impact on our humanitarian supplies, including going to areas of key need in sub-Saharan Africa".

"I'm worried that further escalation will damage other supply routes," he told reporters in Geneva, warning that the war was pushing up prices and driving "more people into greater need".

"We're appealing to all the parties to try and secure those routes, including the Strait of Hormuz, for our humanitarian traffic... so we can reach anyone, anywhere, on the basis of greatest need."

"We're living through a moment right now of grave peril," Fletcher said.

"We're seeing these crises escalate rapidly and increasingly collide in dangerous ways," he said, calling for "calmer heads to prevail".

The last two weeks of fighting are further confirmation that "we're living in a time of brutality, impunity and indifference", he said, cautioning that "the rules-based scaffolding meant to restrain the worst excesses of war is cracking".

"Human ingenuity is being applied to find ever more sinister ways to kill at scale, while civilians are subjected to ever more abject violence."

- 'Massive gap' -

The UN aid chief warned that such violence was taking a heavy toll at a time when humanitarians were already on their knees.

"We're seeing violence reverberate across borders, displacement, economic shocks, soaring humanitarian needs -- and we're seeing the consequences spread faster than we can respond," he said.

"Humanitarian action (is) overstretched, under sustained attack and under-resourced."

When Fletcher launched the UN's annual Global Humanitarian Appeal for 2026 last December, he requested $23 billion to help 87 million of the world's most vulnerable people, with a heavy focus on dire conflict situations like those in Gaza, Ukraine, Sudan, Haiti and Myanmar.

The amount and scope were dramatically reduced compared to recent years, as the UN strives to adapt to a new reality since US President Donald Trump returned to the White House in January 2025, slashing foreign aid.

The UN has stressed that its smaller appeal did not mean humanitarian needs have shrunk.

Fletcher voiced optimism Wednesday that the 2026 target could be reached, while acknowledging that "the needs are far greater" than the people the UN can reach.

The UN has already received $5 billion towards the 2026 plan, including $2 billion from the US, with additional pledges bringing the total to $8.7 billion, he said.

"So that's over a third of what we're looking to get this year for this plan, delivered in the first quarter," he said.

But, he warned, "we still face a massive gap".

"Without additional support, millions of people will die."

The towering humanitarian needs were all the more distressing when around $1 billion is being spent every day on the Middle East war, he said.

Just a day's worth of war funding "would allow us to save millions of lives", Fletcher insisted.