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DUBAI, United Arab Emirates (AP) — Iran intensified its military operations against Gulf Arab nations on Tuesday, maintaining its aggressive stance in the
region. Concurrently, an airstrike in northern Iraq resulted in the deaths of five pro-Iranian militants. Early morning missile alerts were activated in Dubai, United Arab Emirates, and Bahrain, while Saudi Arabia reported intercepting two drones targeting its oil-rich eastern region. Kuwait's National Guard confirmed the downing of six drones, indicating heightened military activity across the area.
Impact on Oil Prices
Iran's missile and drone attacks have not only targeted military installations but also energy infrastructure, exacerbating tensions in the Strait of Hormuz. This strategic shipping lane, through which approximately 20% of the world's oil is transported, has seen rising oil prices as a direct consequence of these hostilities.Brent crude oil prices surged to nearly $120 per barrel on Monday, before retracting slightly to around $90 on Tuesday. This represents an increase of nearly 24% since the onset of the conflict on February 28.
U.S. Response and Regional Reactions
U.S. President Donald Trump, addressing concerns over a prolonged conflict, described the situation as a “short-term excursion.” His remarks come amidst fears that the ongoing war could escalate into a more extensive regional confrontation.Trump further threatened that any disruption to oil flow through the Strait of Hormuz would result in severe repercussions for Iran, stating, “If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far.”
In response, Iranian officials asserted their determination to dictate the conflict's duration, with Kamal Kharazi, a foreign policy adviser, emphasizing Iran's readiness for a prolonged engagement.
Airstrikes in Iraq
The conflict's ramifications have extended into Iraq, where pro-Iran militias have been launching attacks on U.S. bases. An airstrike early Tuesday targeted the 40th Brigade of the Popular Mobilization Forces in Kirkuk, resulting in five militant fatalities and several injuries, as reported by anonymous officials.Since the conflict began, casualty figures have escalated, with over 1,230 deaths reported in Iran, 397 in Lebanon, and 11 in Israel, alongside seven U.S. service members killed.
