By Our Correspondent

National News – Iran launched a series of attacks on Israel and Gulf nations on March 11, 2026, escalating tensions in the Middle East.

Targets included a Saudi oilfield, amid reports of a proposed historic release of global oil reserves, which briefly calmed international markets.

The conflict erupted after United States and Israeli strikes on Iran, triggering rising energy costs, fuel rationing, and school closures across the region.

The G7 leaders are set to discuss the economic fallout via video conference, focusing on global energy stability, while the International Energy Agency considers its largest-ever oil reserve release.

The United States targeted Iranian ships capable of mining the Strait of Hormuz, the critical oil passage through which one-fifth of the world’s oil flows.

The US military reported destroying 16 Iranian minelayers near the strait.

President Donald Trump warned of unprecedented consequences if mines were deployed, while offering to escort tankers, though initial reports of such escorts were later corrected.

Meanwhile, the UK maritime agency confirmed that a container ship off the UAE coast was struck by an unidentified projectile, highlighting ongoing shipping risks.

Iran retaliated with intense missile and drone strikes across Israel, Bahrain, Iraqi Kurdistan, and a US air base in Kuwait.

Israeli and Gulf defense forces intercepted several attacks, including drones aimed at the Shaybah oilfield in Saudi Arabia.

Iranian authorities stated they were not seeking a ceasefire, with Revolutionary Guards vowing to defend the revolution.

Seven US military personnel have died and roughly 140 injured since the conflict began.

In Tehran, civilians expressed fear over constant bombings, while the Iranian health ministry reported over 1,200 fatalities and more than 10,000 injured.

The war’s impact has spread internationally, with incidents reaching Sri Lanka and Australia, which granted asylum to members of the Iranian women’s football team.

Iraq and Lebanon have become proxy battlegrounds, with hundreds killed and thousands displaced following Israeli and US operations targeting Iran-backed groups.

Rising fuel and food costs are affecting vulnerable populations worldwide, with countries like Egypt seeing fuel prices surge by up to 30%.