Day 12: US-Israel Conflict with Iran Escalates, Oil Prices Surge

Mar 11, 2026

69 min

Mar 11, 2026 22:31

US-Israel war on Iran Day 12: World oil prices rally over 5%; UAE responds to missile threat

## Rising Tensions and Military Actions

The US and Israel continue their military operations against Iran, with recent strikes targeting Iranian naval assets near the Strait of Hormuz. Israel has also launched attacks on Hezbollah positions in southern Beirut. Iran claims these actions have impacted nearly 10,000 civilian sites.

## UAE's Defensive Measures

The UAE has successfully intercepted a significant number of missiles and drones launched from Iran, maintaining a high interception rate. The Ministry of Defence conducted a military funeral for two officers who died in a helicopter crash.

## Global Oil Market Impact

Oil prices have surged by over 5% amid the conflict, with the International Energy Agency announcing the release of 400 million barrels from reserves to stabilize the market. The security of Iran's Kharg Island, a major oil export hub, is crucial as any disruption could further tighten global supply.

## International Reactions

The UN Security Council has demanded Iran cease its attacks on Gulf states, citing violations of international law. Meanwhile, the US has warned Iran about targeting civilian ports, and Switzerland has temporarily closed its embassy in Tehran due to security concerns.

## Regional Developments

Dubai has issued alerts for residents to stay indoors as defensive operations continue. Kuwait has also reported successful interceptions of drones. The situation remains tense as the conflict's impact on regional stability and global markets is closely monitored.

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