US-Israel-Iran Conflict Enters Third Week: Global Oil Prices Surge, Air Travel Disrupted

The Financial Express
US-Israel-Iran Conflict Enters Third Week: Global Oil Prices Surge, Air Travel Disrupted
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The US-Israel-Iran conflict has now entered its third week — with the UAE and other Gulf countries firmly at the center of the conflict. UAE air traffic back to normal; blasts near US Embassy in Baghdad; Europe says ‘this is not our war’ According to the National News Agency, Israeli jets carried out raids on Qaqaiyat al-Jisr in southern Lebanon’s Nabatieh’s district. The Israeli military was also targeting the outskirts of Shebaa. International reports suggested that loud explosion were held in the Iranian capital, Tehran. Iraq’s Oil Minister Hayan Abdul-Ghani has told Al Jazeera that the country has reached an understanding with Iran for its oil tankers to cross the Strait of Hormuz. According to the National News Agency, Israeli forces abducted a Lebanese man following a raid at his home in the village of Kfarchouba in the country's southern region. According to Tasnim news agency, the IRGC arrested 10 foreigners on the suspicion of collecting information on sensitive sites and orchestrating operations in Iran's northeast. Lufthansa CEO Carsten Spohr told business magazine Manager Magazin in an interview published on Tuesday that the future of Gulf carriers like Emirates and Qatar Airways hangs in the balance amid the ongoing war. "The major hubs of the Gulf carriers are located in a region that is now clearly exposed to new risks. What this means for the future of global air travel remains to be seen," he said. According to the Abu Dhabi Media Office's statement quoted by state news agency WAM, the person reported dead in the Baniyas area of Abud Dhabi, UAE, was confirmed to be a Pakistani national. "Abu Dhabi authorities have responded to an incident involving falling shrapnel in the Baniyas area, following the interception of a ballistic missile by air defence systems. The Abu Dhabi Media Office announced that the incident resulted in the death of a Pakistani national," state news agency reported. According to the semi-official Mehr news agency, an Airbus aircraft was struck at Iran's Bushehr airport. The report suggested the plane was "completely damaged" along with another small one. Additionally, the blast wave is said to have caused damage to the airport terminal. Israel's Health Ministry said that 3,530 people have been injured and taken to hospitals since the war started in the country late February. It added currently 86 people are still in hospital. Eight among them are in serious condition, according to the ministry. Mehr news agency quoted the city’s governor Mohammad Sadegh Motamadian saying that at least 12,000 housing unit in Tehran have been damaged or totally destroyed amid the ongoing war against the US and Israel. Meanwhile, Islamic Republic News Agency (IRNA) quoted the country’s heritage ministry as saying that at least 56 museums, historical monuments and cultural sites in Iran have been damaged amid the ongoing war. At least 19 of those were located in Tehran including the Golestan Palace, the Tehran Bazaar, as well as the former Senate building. The Israeli army has told residents living south of Lebanon's Zahrani River to leave the area before it launches a new operation against the Lebanese armed group Hezbollah. “Anyone present near Hezbollah elements, their facilities, or their combat vehicles is endangering their life,” its spokesperson said on X. According to the National News Agency, Israeli jets targeted a building in the southern Lebanese village of Arab al-Jal. This comes after the Israeli army issued an evacuation threat for residents, saying that it was launching an offensive against Hezbollah military infrastructure in the area. Indian LPG tanker, Nanda Devi, reached Vadinar port in Gujarat with around 45,000 metric tonnes of gas after traversing the important Strait of Hormuz on Tuesday. It was originally scheduled to arrive at Kandla port. Oil prices in the Middle East have surged to record levels, becoming the most expensive in the world. Cash Dubai crude reached $153.25 per barrel for May cargoes, surpassing Brent’s all-time high of $147.50 in 2008, while Oman crude hit $147.79 per barrel. Exports to Asia have dropped sharply to 11.665 million barrels per day this month, down from nearly 19 million in February before the war, marking a 32 percent decline from March 2025 levels. Hong Kong Chief Executive John Lee said the ongoing US-Israel conflict with Iran is disrupting oil supplies, creating shocks and price volatility across Asia. Lee expressed concern over rising fuel costs and said the Hong Kong government is working to ensure stable energy supplies. “The government has also been in touch with local airlines and fuel suppliers to ensure they act responsibly,” he added. Finland’s President Alexander Stubb has called on India to play a bigger diplomatic role in easing tensions between the United States and Iran. He highlighted India’s recent outreach through External Affairs Minister S. Jaishankar, who has been urging for de-escalation. New Delhi has been actively engaging with Tehran. Jaishankar recently held talks with Iranian diplomat Seyed Abbas Araghchi, discussing the conflict and its regional implications. Iran framed the escalation as a response to “aggressions” by the US and Israel, emphasizing its right to self-defense while warning of wider consequences. Prime Minister Narendra Modi also spoke with Iran’s President Masoud Pezeshkian, stressing concern over civilian casualties and the safety of Indian nationals. Modi underlined India’s priority to ensure smooth energy and trade routes amid rising tensions. An Nanda Devi, an indian‑flagged liquefied petroleum gas (LPG) tanker, is on its way to Kandla Port after safely moving through the strait of hormuz. The vessel left Qatar carrying LPG and is expected to reach kandla on tuesday. This comes after another indian tanker, Shivalik, reached Mundra Port just a day earlier with nearly 45–46 thousand tonnes of gas. Officials say nanda devi’s safe arrival is good news at a time when fuel shipments have been under stress because of tensions around the hormuz strait — a key route for energy exports. Rajesh Kumar Sinha, special secretary in the Ministry of Ports, Shipping and Waterways, told a briefing that nanda devi has already moved into open sea after clearing the strait. He said that between the two indian tankers, nanda devi and shivalik, they are carrying roughly 92,700 metric tonnes of LPG back to india. Qatar’s Civil Defence teams are working to contain a “limited fire” that broke out in an industrial area after debris from an intercepted missile fell on the site, the country’s Ministry of Interior said. The ministry added that no injuries have been reported so far. Earlier, Qatar’s Ministry of Defence confirmed that a missile attack had been successfully intercepted, with the falling shrapnel triggering the fire. Iran has issued a sharp warning of “deadly retaliation” after dozens of its sailors were killed when its warship, IRIS Dena, was struck by a US submarine torpedo in the Indian Ocean near Sri Lanka earlier this month. The ship had just participated in a naval exercise hosted by India and was returning when it was attacked in international waters, leaving at least 87 sailors dead and several others rescued. Reacting strongly, Iran’s Navy chief said those responsible would face serious consequences, signaling possible escalation. The incident has raised fresh concerns as tensions spill beyond the Middle East into key global shipping routes, making the situation at sea increasingly volatile. The UAE activated its air defence systems in response to a missile threat, according to authorities. Residents were asked to stay indoors and avoid exposed areas. Emergency alerts were also sent to phones warning people to remain in safe locations. In Lebanon, Israeli air strikes hit several areas in the south, including towns like Aita al-Shaab, Taybeh, Majadel, and Zibqin. There were also strikes near Beirut, with reports of heavy damage to residential buildings. One person was injured in an air strike in the Aaramoun area. So far, there are no confirmed reports of casualties in many of the other strikes. In the Gulf of Oman, a tanker anchored near Fujairah was struck by what officials described as an “unknown projectile.” The ship suffered minor damage, but no injuries were reported, and there was no environmental impact. Authorities have advised vessels in the area to remain cautious. A fire that broke out aboard the USS Gerald R. Ford last week raged for more than 30 hours, leaving several crew members affected by smoke inhalation, according to a report by The New York Times. The blaze started in the ship’s laundry area and took hours to bring under control. While the US Navy earlier said the fire was contained and not related to combat, it confirmed that two sailors suffered non-life-threatening injuries. Despite the incident, operations on the 100,000-ton warship, currently deployed in the Red Sea amid the Iran conflictm were not affected. However, life onboard has taken a hit. Reports suggest nearly 600 sailors lost their sleeping spaces due to the fire and have since been resting on floors and tables. Many have also been unable to access basic services like laundry. The carrier, which hosts around 4,500 personnel including crew and air wing, has already been dealing with ongoing issues during its extended deployment, including repeated problems with onboard sanitation systems. Since leaving its base in Norfolk last June, the ship has been on a long and demanding deployment, moving across multiple regions before being stationed in the Middle East. If it continues through mid-April, the mission could become the longest deployment for a US aircraft carrier since the Vietnam War. Operations at one of the UAE’s biggest gas facilities have been temporarily suspended after a drone attack triggered a fire, authorities in Abu Dhabi said on Tuesday. The blaze broke out at the Shah gas field, located around 180 km southwest of Abu Dhabi city. Officials said the fire has now been brought under control and no injuries have been reported, but work at the site has been paused while damage is being assessed. The Shah field is among the largest of its kind globally, capable of producing about 1.28 billion standard cubic feet of gas per day. It is operated by the state-owned Abu Dhabi National Oil Company (ADNOC). Explosions reported near US Embassy in Baghdad. Videos show air defense systems intercepting projectiles near the embassy, with blasts heard just hundreds of meters away. Iraqi officials confirmed several key locations, including the Majnoon oil field and diplomatic zones, were targeted in coordinated strikes. Authorities halted activity at one of the world’s largest gas fields following a drone-triggered fire. The blaze has been contained, with no injuries reported. A fire broke out at the Fujairah Oil Industry Zone after a drone attack, with emergency teams rushing to contain the blaze. This comes just a day after another major fire hit the same area. The Fujairah zone, which stores about 70 million barrels of refined oil, has faced multiple drone hits this month, raising concerns over supply routes that bypass the Strait of Hormuz. A drone struck the Al-Rasheed Hotel in Baghdad, close to the US Embassy, sending smoke into the sky but causing no casualties or major damage. Videos show air defense systems intercepting projectiles near the embassy, with blasts heard just hundreds of meters away. This conflict is already in its third week. The fighting, involving the US, Israel and Iran, has spread across much of the Middle East. So far, more than 2,000 people have been killed, mostly in Iran and Lebanon. Iran has fired rockets and drones at nearby countries and also targeted ships in the Gulf. The impact has been felt globally. Oil prices have shot up, with Brent crude briefly touching $106 a barrel before settling around $100. Donald Trump on Monday said he has asked to delay his planned visit to Beijing, where he was supposed to meet Chinese President Xi Jinping later this month. The reason, he said, is simple. “We’ve got a war going on. I think it’s important that I be here,” Trump told reporters, making it clear he doesn’t want to leave the United States at a time like this. A day earlier, Trump had already hinted that the trip might not happen. He said he would reconsider going to Beijing if China did not send warships to help protect ships in the Persian Gulf. The focus is the Strait of Hormuz, a narrow but crucial route through which nearly one-fifth of the world’s oil passes. Right now, Iran has largely blockaded this route. But there’s a complication — Iran sells oil to China and is allowing Chinese ships to pass safely. That means Beijing has little reason to step in.

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Publisher: The Financial Express

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US-Israel-Iran Conflict Enters Third Week: Global Oil Prices Surge, Air Travel Disrupted | Achira News