US and Israel Continue Air Campaign Against Iran Amid Fuel Price Surge
The Tuesday. According to a Wall Street Journal report, Trump is now willing to end the war on Iran even if the Strait of Hormuz stays closed. The plan is to shift focus on crippling Iran’s navy and missile stocks first. He reportedly plans to press Europe and Gulf countries to manage the chokepoint while winding down US military operations. Markets remain cautious, with oil prices and regional tensions still driving uncertainty. Here are the key developments on March 31, 2026. Chinese and Pakistani foreign ministers called for an immediate ceasefire and urged peace talks to be held as soon as possible, Pakistan’s Foreign Ministry and China’s state news agency Xinhua report. The two countries also said the safety of waterways should be ensured and that of ships and crews stranded in the waters within the Strait of Hormuz, Xinhua says. Defense Ministry Director General Maj. Gen. Amir Baram has halted all arms procurements from France as part of a larger initiative to reduce military dependence on countries viewed as diplomatically hostile to Israel, Times of Israel reported quoting multiple unsourced Hebrew media reports. The United States is aware of what China and Russia are doing to help Iran and are confronting those efforts where necessary, US Defense Secretary Pete Hegseth said. Hegseth also said the next few days in the Middle East conflict would be decisive, saying there had been major desertions from the Iranian armed forces. The next few days in the Middle East conflict will be decisive, US Defense Secretary Pete Hegseth told a briefing today, saying there had been major desertions from the Iranian armed forces. The UAE Air Defense Forces said it intercepted 8 ballistic missiles, 4 cruise missiles, and 36 drones originating from Iran today. Satellite images released byPlanet Labs PBC, a San Francisco-based firm used by media outlets, give a glimpse into the toll of the Iran war, with ships ablaze in an Iranian port and destroyed buildings at American bases in the region. The United States and Israel have been striking a wide variety of targets, including leadership figures in Iran, military bases, missile and air defence sites and positions of the paramilitary Revolutionary Guard and its volunteer force, the Basij. Iran has responded with drone and missile fire targeting Israel and nearby Gulf Arab nations. US gasoline prices have surged past an average of $4 per gallon for the first time since 2022, as the ongoing Iran conflict drives a global spike in fuel costs. Data from the American Automobile Association (AAA) shows the national average for regular fuel has climbed to $4.02 per gallon—more than a dollar higher than pre-war levels. The last time prices were this high was nearly four years ago, in the aftermath of Russia’s invasion of Ukraine. Tensions in West Asia continue to escalate as Iran continued assault on its Gulf neighbours hosting US military bases amid US's potential ground invasion. Tehran has now vowed to "cut off legs of any aggressor invading the country." The bold statement comes amid the ongoing conflict involving the United States and Israel, now entering its second month. Iran says it has targeted a location used by US Fifth Fleet commanders in Bahrain. In a statement released on Monday, Islamic Revolutionary Guard Corps (IRGC) said its naval forces had destroyed four gathering sites and facilities belonging to the United States and Israel in rapid strikes during the 87th wave of the operation, News.Az reported, citing Iran’s English-language Press TV. At least nine people have been injured across Israel as Iran launched a wave of missiles on it, media reports said, quoting officials. People accused of spying or cooperating with “hostile states” could face the death penalty and confiscation of all assets under a recently enhanced law, an Iranian judiciary spokesperson says, according to Reuters. The fire aboard the Kuwaiti oil tanker Al Salmi has been successfully extinguished, causing damage to the vessel's hull and raising concerns about a possible oil spill, the Dubai Media Office said on Tuesday. The tanker, Al Salmi, was carrying 2 million barrels of oil from Kuwait and Saudi Arabia, destined for Qingdao, China. Thankfully, all 24 crew members are safe, and no injuries have been reported. The US Central Command has confirmed that CENTCOM chief Adm. Brad Cooper visited Israel this week to discuss progress made during ongoing operations in the war with Iran. During the visit, Adm. Brad Cooper and IDF Chief of Staff Lt. Gen. Eyal Zamir “discussed progress made during ongoing operations to eliminate Iran’s ability to project power in meaningful ways outside its borders,” said CENTCOM spokesperson Cpt. Tim Hawkins, according to the report. Several cars in central Israel went up in flames after fragments from a new wave of missiles fired by Iran fell across the region. Debris was reported at multiple locations in the Tel Aviv district, but police confirmed that there are no casualties at this stage. The Israel Defense Forces (IDF) said search and rescue teams are heading to the impact sites, and emergency responders were seen at an affected area along Tel Aviv’s beach promenade. An IDF spokesperson suggested the damage may have come from a cluster munition. The latest wave of fighting has left 10 Israeli soldiers dead, with more casualties reported during combat with Hezbollah near southern Lebanon. Israeli authorities are reinforcing ground positions to create a “buffer zone,” while civilians are urged to evacuate areas south of the Zahrani River. Hezbollah claimed responsibility for a drone attack on an Israeli air defence system in Ma’alot-Tarshiha earlier this morning. Iran’s army said its air defence units destroyed an MQ-9 drone near Isfahan, calling it a US-Israeli “aggressor enemy.” Military officials told the semi-official Tasnim news agency that this marks the 146th drone Iran has shot down. The MQ-9 Reaper drone, used for surveillance and strikes, costs about $30 million per unit. Japan and Indonesia have pledged closer coordination on energy security amid the ongoing war in the Middle East. During the Indonesian president’s visit to Tokyo, $22.6 billion in business agreements were signed, including oil and gas projects. Indonesia relies on imports for nearly half its oil needs, consuming 1.7 million barrels per day while producing just 860,000 barrels domestically. Gold prices rose slightly on Tuesday, trading at $4,563.30 per ounce, but the precious metal is still on track for its steepest monthly drop since October 2008. Rising energy prices are dampening hopes for a US interest rate cut, keeping gold under pressure. Iran’s Foreign Ministry spokesperson, Esmail Baghaei, said the 15-point proposal presented by the US through Pakistan as mediator is “maximalist” and “unreasonable.” Diplomatic sources confirm that direct talks with the US are not planned, while Foreign Minister Abbas Araghchi posted on X that it is time to remove US forces from the region. Iran’s mistrust of the United States runs deep, as the country has twice faced American and Israeli airstrikes after engaging in diplomacy over the past 10 months. According to a Wall Street Journal report, President Trump is ready to wind down the war on Iran without reopening the Strait of Hormuz. He aims to weaken Iran’s military first while pressing Europe and Gulf countries to handle the critical oil route. Markets remain on edge as oil prices and tensions stay high. The US-Israel air campaign on Iran has killed thousands across nine countries and rattled global energy markets. Iran has fired missiles and drones at Saudi Arabia and other Gulf nations, though they haven’t struck back. Saudi Arabia is trying to mediate peace talks between Washington and Tehran. But its role as a broker carries risks of being pulled into the conflict. The situation remains volatile, with the potential for the war to spread across the region. Iran’s parliamentary Security Commission has approved a plan to regulate and charge ships passing through the Strait of Hormuz. The plan, reported by state media IRIB, includes: Pro-government marches swept through Karaj, west of Tehran, with demonstrators waving flags and chanting “Courage, courage!” The rally comes after power outages hit Karaj and Alborz province following an attack on an electric substation. Similar gatherings were reported in Tehran and Ardabil. A US official told the Wall Street Journal that 2,000-pound bunker buster bombs hit a major ammunition depot in Isfahan. Massive “penetrator munitions” were used in the strike. The report follows a video posted by Trump showing huge explosions in the city. Donald J. Trump Truth Social Post of Video 08:50 PM EST 03.30.26 President Trump just posted new uncensored video of a gigantic blast pic.twitter.com/klA2zTJpRQ Iranian state media confirmed the funeral for IRGC Navy Commander Admiral Alireza Tangsiri will take place on Monday. Mohammad Ali Movahedi Kermani, chairman of Iran’s Assembly of Experts, called Tangsiri’s death “another page in the bravery of the brave men of Iran” and praised his work defending Iran’s waters and advancing naval technology. The Israeli army reported that four more soldiers have died in southern Lebanon. Two of the soldiers were 21 years old, one was 22, and the fourth’s details remain undisclosed as his name has not yet been cleared for publication. Since March 2, at least 10 Israeli soldiers have been killed as Israel expands its military operations south of the Litani River. The Israeli military says missiles were launched from Iran targeting Israeli territory. Air defence systems are actively intercepting the attacks. Several areas of Tehran are experiencing electricity cuts after multiple explosions were reported, according to Fars News Agency. Details on the cause or casualties are still emerging. In the US, Senator Adam Schiff has warned that the rising cost of the war could affect ordinary Americans in a different way. He said the Pentagon’s request for an extra $200 billion could lead to cuts in healthcare spending. Sharing a report, Schiff wrote, “A war you don’t want, paid for by (more) cuts to your health care.” He also claimed the funding push could mean each American family is effectively being asked to “chip in $1,400 to keep bombing Iran,” adding that this does not even include rising fuel prices and other costs. “And for what?” he asked, pointing to concerns about leadership changes in Iran, rising gas prices, and the toll on military families. In an interview with a US network, Israeli Prime Minister Benjamin Netanyahu avoided giving a clear timeline on when the air campaign against Iran might end. He said Israel is “over halfway” through its list of targets inside Iran, though that raised fresh questions because some military officials had earlier suggested the campaign was already close to its final stages. Netanyahu made it clear that one key goal remains stopping Iran from building a nuclear weapon — not just now, but in the future as well. At the same time, there is growing talk that Israel may be trying to weaken Iran more, including its economy and long-term strength.
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