14 March 2026
Oil markets surged over 3% to nearly $99 per barrel as tensions escalated dramatically in the Gulf region, with Iran threatening retaliation against neighboring countries and President Trump calling on allies to deploy warships to keep the Strait of Hormuz open. Iranian media reported 15 deaths from a US-Israeli strike on an Isfahan factory, while Tehran launched new missile salvoes at Israeli targets, pushing the critical oil shipping route toward potential disruption.
The geopolitical crisis comes as the International Energy Agency announced the largest release of emergency crude stockpiles in its 50-year history, yet oil prices continue climbing — underlining how supply fears are overwhelming coordinated intervention efforts. Agricultural commodities also gained ground with wheat up 2.7%, reflecting broader concerns about regional stability affecting food security across Muslim-majority nations in the Middle East and North Africa.
Cryptocurrency markets remained relatively stable with Bitcoin holding above \(71,000 despite the regional turmoil, though the Ethereum Foundation's \)10.2 million ether sale to fund protocol development signals ongoing institutional activity. In the UK, political uncertainty deepened as Scottish nationalists eye election gains that could threaten the union, while Reform UK outlined plans to replace senior civil servants with party loyalists.
Precious metals diverged sharply, with gold falling 1.3% and silver dropping over 4% as investors appeared to favor oil over traditional safe havens amid the specific energy supply risks. The dollar strengthened against major currencies including the euro and pound as markets sought stability.
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- US-Israeli strike kills 15 at Isfahan factory, Iranian media says
- Protests erupt in Cuba | Anti-government demonstrators attack party office
- US-Israel war on Iran : Is diplomacy still possible?
- President Trump appeals to allies to help defend Strait of Hormuz from Iran’s attacks | BBC News
- Iran escalates after US strike on Iran’s Kharg island, | Gulf oil crisis explained
- Iran threatens Gulf ports after US strikes I Latest update
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US-Israeli forces strike an Isfahan factory killing 15 people as Iran launches new missile salvoes at Israeli targets, marking a dangerous escalation in direct exchanges. Global protests emerge from Madrid to Seoul condemning the strikes, while oil climbs another 3.1% to $98.71 amid the spreading conflict.
Iran strikes back at US bases in Iraq and Syria following yesterday’s Kharg Island attacks, while oil prices climb another 3.1% to $98.71 as the conflict spreads. UNESCO condemns strikes on a girls’ school in Iran’s Minab district, highlighting civilian casualties in the escalating war.
Iran warns UAE ports and “American hideouts” are targets as drone strikes hit a UAE port city with smoke visible rising over the area. Cuba sees rare anti-government riots with protesters attacking a Communist party office amid worsening blackouts and food shortages caused by the Middle East crisis.
Trump calls for naval coalition with “many countries” sending warships to help keep the Strait of Hormuz open as Iran declares it closed to “tankers and ships of enemies.” Rare protests erupt in Cuba with a communist party office set on fire amid severe food and energy shortages caused by US restrictions during the Middle East crisis.
Israel bombs Basij checkpoints in Tehran targeting Iran’s paramilitary forces, marking the first direct strikes on the Iranian capital amid the escalating conflict. Trump now calls on UK to deploy warships to help keep the Strait of Hormuz open as Iran maintains its blockade against US vessels.
Iran says the Strait of Hormuz will not reopen to US ships as Tehran escalates its blockade, while missiles were intercepted at UAE ports with Qatar ordering evacuations as the conflict spreads further across Gulf states.
Fire strikes the US embassy compound in Baghdad causing visible damage, while smoke rises from a Fujairah oil facility in the UAE as the Iran conflict spreads to multiple Gulf locations.
Smoke rises from Fujairah oil facility in the UAE as conflict spreads to another Gulf state, while Iran grants rare passage exceptions allowing two Indian ships through the Strait of Hormuz blockade.
Two Indian ships cross the Strait of Hormuz after Iran grants rare passage exceptions to its blockade, while a Muslim woman is deliberately struck by a car in broad daylight in southeast London. Oil holds above $98 despite Trump clarifying US strikes targeted only military sites on Kharg Island, not oil infrastructure as initially reported.
Trump clarifies US struck military targets on Iran’s Kharg Island while sparing oil infrastructure, contradicting earlier reports of attacks on oil facilities. Markets react with oil holding near $99 despite the more restrained approach, while Chancellor Reeves prepares household energy support as heating oil costs surge.
Hamas calls for Iran to halt attacks on Gulf states while supporting Tehran’s right to defend against Israel and the US, marking a notable diplomatic stance amid the escalating conflict. Japan releases strategic oil reserves while Cuba faces severe energy crisis after oil supplies were cut off.
Hamas calls for Iran to halt attacks on Gulf states while supporting Tehran’s right to defend against Israel and the US, marking a notable diplomatic stance amid the escalating conflict. Lebanon sees continued violence with four killed in an Israeli strike on a southern apartment building.
Trump confirms US struck Iran’s Kharg Island military sites while sparing oil infrastructure, clarifying earlier conflicting reports about the scope of attacks. North Korea fires 10 ballistic missiles during US-South Korea military drills, adding regional tension as the Middle East conflict continues.
Trump confirms US struck Iran’s Kharg Island military sites but spared oil infrastructure, while threatening further attacks if Tehran disrupts Strait of Hormuz shipping. Markets show mixed reaction with oil holding near $99 despite the restrained targeting approach.
US embassy in Baghdad reportedly attacked with smoke seen rising from the compound, marking a dangerous escalation as the Iran conflict spreads beyond initial targets. Japan releases strategic oil reserves while Cuba faces severe energy crisis after oil supplies were cut off amid the Middle East turmoil.
Trump claims US “way ahead of schedule” in Iran war while stating the conflict “isn’t ending anytime soon,” signaling prolonged military engagement. Thousands of travelers remain stranded as Middle East conflict disrupts global flights, with experts questioning Hegseth’s assurances about Strait of Hormuz operations.
Defense Secretary Pete Hegseth’s “no quarter, no mercy” rhetoric toward Iran draws legal criticism from analysts who say it violates international law. F1 cancels Bahrain and Saudi Arabia races next month due to escalating Middle East conflict.
US bombs Iran’s Kharg Island oil facilities as conflict escalates, with President Trump warning more oil infrastructure could be targeted next. Oil prices surge 3.7% to $99 while markets fall on supply disruption fears, with UK Chancellor Rachel Reeves preparing emergency household energy support.