Due to shelling of energy infrastructure and the closure of the Strait of Hormuz, Brent crude oil prices reached $120. Israel attacked Tehran in response to drone strikes.
G7 finance ministers will discuss releasing up to 400 million barrels of oil due to shortages. Brent prices jumped to $120 due to the war in the region.
The blockade of the Strait of Hormuz and overflowing storage tanks have caused a shortage of raw materials. Analysts predict a historic rise in oil and fuel prices.
Due to the war with Iran and the closure of the Strait of Hormuz, Iraq reduced production to 1. 8 million barrels. The shortage of tankers and storage facilities caused an energy crisis.
An explosion occurred near the consular section of the US Embassy in Norway, with no casualties reported. Police are investigating the incident amid escalating conflict with Iran.
US C-RAM air defense system shot down a Katyusha rocket near the embassy in Iraq, no casualties reported. The Prime Minister ordered to find those responsible among illegal armed groups.
Kuwait Petroleum Corporation is reducing oil production and refining volumes due to the closure of the Strait of Hormuz. Precautionary measures have been implemented amid threats.
The Israel Defense Forces are bombing western regions of Iran to support Kurdish militias preparing for a ground offensive. Kurdish groups plan to seize strategic cities near the border.
The HKN oil field in the Sarsang area of Dohuk province was shelled last night, causing significant damage to the field and leading to a halt in production.
Georgian airspace has become one of the busiest transit routes between Europe and Asia. This brings the country up to $375,000 daily due to the increased number of flights.
International Energy Agency Director Fatih Birol stated there is a "huge surplus" of oil in the markets, but warned of a potential "gas bidding war" due to the conflict in the Middle East. Oil prices have risen by 50% since the beginning of the year, and the Strait of Hormuz is effectively closed to tankers.
Due to the war in the Middle East and the escalation around Iran, fuel prices in Europe have risen. The highest prices are recorded in the Netherlands, where gasoline costs 2.19 euros per liter.
Missile and drone attacks continue in the Middle East. Iraq, Kuwait, UAE, Saudi Arabia, Bahrain, Qatar, Israel, Iran, and Lebanon report explosions and interceptions.
The Ministry of Foreign Affairs of Ukraine has received 58 appeals from citizens since February 28 due to the escalation in the Middle East. Airspace remains closed in some countries, but airports in Jordan, Saudi Arabia, Lebanon, and Oman are operating normally.
Iran has significantly expanded the scale of military strikes in the region, using missiles and drones against a number of states. The attacks affected 11 countries, including Israel, UAE, Qatar, Bahrain, Kuwait, Saudi Arabia, Jordan, Iraq, Syria, Azerbaijan, and Turkey.
Iran struck Kurdish groups in Iraq, claiming the US was arming Iranian Kurdish guerrillas. This occurred amid the spread of war in the Middle East, which has engulfed the entire region.
Iran's military leadership denies launching missiles towards Turkey. This happened after NATO air defense intercepted a missile flying from Iran.
Kurdish armed groups from Iraq launched a military offensive against the Iranian regime on March 2. Iranian forces evacuated the border city of Marivan.
A complete power outage has occurred in all provinces of Iraq. The causes of the large-scale failure have not been officially named.
Qatar's state energy company, QatarEnergy, has declared force majeure on liquefied natural gas supplies. This happened after Iranian attacks on the company's facilities in Ras Laffan and Mesaieed.
The Ministry of Foreign Affairs of Ukraine informs about the closure of airspace in Israel, Kuwait, Qatar, UAE, Iran, and Iraq as of March 4. The Ministry of Foreign Affairs has received 54 appeals from Ukrainian citizens regarding the escalation of the situation in the region.
The conflict in the Middle East is spreading, with strikes and attacks continuing. Israel has launched strikes against Iran, while Lebanon, Qatar, Saudi Arabia, and Kuwait have also been attacked.
Iraq's Ministry of Oil will halt production at a key field due to disruption of the waterway. The war in Iran has stopped tanker traffic through the Strait of Hormuz, leading to a rise in oil prices.
Hundreds of people, including children and teachers, have died amid escalation in the Middle East - casualties reported in 7 countries.
In Ukraine, fuel prices rose by 5% due to news of oil supply problems from the Persian Gulf. However, according to an analyst, the price increase is unlikely to continue.
The US State Department has urged Americans to leave Middle Eastern countries immediately due to serious security risks. The list includes Bahrain, Egypt, Iran, Iraq, Israel, and Saudi Arabia.
The US does not plan an "Iraq scenario" in Iran, but the operation will not be limited to one-off strikes and may be accompanied by new losses. Four American servicemen were killed.
The conflict in the Middle East has led to a sharp jump in oil prices due to the risks of volume loss and transit problems. This could lead to an increase in fuel prices in Ukraine.
The conflict between Iran, Israel, and the United States has resulted in the deaths of over 100 female students in Iran and 10 people in Israel. In total, numerous civilian and military casualties have been recorded in six countries in the region.
An American F-15 fighter jet crashed in Kuwait, and the pilot successfully ejected. The incident occurred amid regional tensions, and there are no official confirmations yet.
