The Latest: Global energy concerns mount as Iran threats stop cargo through the Strait of Hormuz

The ongoing Israeli-American war on Iran, for all its complexity and global effects, boils down to a single question: Who can take the pain the longest? A surge in oil prices points to what may be Iran's most effective weapon and the United States' biggest vulnerability in continuing the campaign: Damaging the world economy. Wednesday's major developments include Iranian attacks against commercial ships across the Persian Gulf and its targeting of Dubai International Airport, escalating a campaign of squeezing the oil-rich region as global energy concerns mount. The U.S. campaign of air strikes also continues, and the Israeli military said it is simultaneously striking across Iran as well as Hezbollah infrastructure in Beirut. The war has killed at least 1,230 people in Iran, at least 550 in Lebanon and 12 in Israel, according to officials in those countries. The Pentagon said Tuesday that about 140 U.S. service members have been wounded, with 108 of them back on duty. Eight suffered severe injuries and seven have been killed. Here is the latest: Romania allows more US troops and air support at its air bases Romania's top defense body on Wednesday approved a request from the United States to increase its troop presence and use of the NATO country's air bases to facilitate its military operations in Iran and the Middle East. President Nicusor Dan said the agreement would allow for the temporary deployment of more U.S. troops, and military equipment for refueling planes and defensive equipment such as satellite communication and monitoring equipment. Japan plans to start releasing its own oil reserves Japanese Prime Minister Sanae Takaichi said Wednesday that her country will start releasing its own oil reserves starting Monday to minimize the fallout of the war in the Middle East. More than 90% of Japan's oil imports come from the Middle East, most of the shipment pass through the Strait of Hormuz. Japan has oil reserves worth 254 days. With the strait virtually being blocked, however, oil imports to Japan are expected to significantly decrease from the end of March, Takaichi said. Iran cracks down on criticism on social media Iran has arrested 81 people who have posted information on social media the authorities deem unacceptable during wartime, Iran's state TV reported. "Since we are at war, we will act like it, those in social media who cause tension for the public mind will be considered the enemy and will be treated as such," Ahmad Reza Radan, the commander-in-chief of the Islamic Republic's security forces, said on state TV late Tuesday. He said the people who post critical things or repost things connected to Iran's enemies will face lengthy prison sentences and possibly executions. Several other countries in the Middle East have also instituted similar bans. Israel has restrictions on sharing photos and videos that show specific locations of strikes. Several dozen have been arrested in Bahrain and Qatar for sharing "misleading" opinions and information online, according to DAWN, a Washington-based rights organization. Germany, Austria say they'll release oil reserves to help curb price spikes Germany and Austria say they are releasing parts of their oil reserves following an International Energy Agency request for its members to release 400 million barrels to help temper energy price spikes due to the Iran war. The largest-ever previous collective release of emergency stocks by IEA member countries was 182.7 million barrels, in the wake of the energy shock prompted by Russia's full-scale invasion of Ukraine in 2022. Germany's economy minister said Wednesday the country would release parts of its oil reserves following a request by the IEA to its member states Tuesday evening "to release oil reserves amounting to 400 million barrels, which is a good 54 million tons." Romania approves US request to increase its use of air bases Romania's top defense body on Wednesday approved a request from the United States to increase its troop presence and use of the NATO country's air bases to facilitate its ongoing military operations in Iran and the Middle East. President Nicusor Dan said after a meeting of the Supreme Council of National Defense, which was convened to discuss the impact of the Middle East conflict, that the agreement would allow for the temporary deployment of troops, and military equipment for refueling planes and defensive equipment such as satellite communication and monitoring equipment. New alarms sound across Israel The Israeli military sounded alarms across Israel after detecting missiles launched from Iran. U.S. Embassy in Baghdad urges its citizens to leave The U.S. Embassy in Baghdad urged U.S. citizens on Wednesday to leave Iraq, citing the risk of attacks and kidnappings. "There have been attacks against U.S. citizens and U.S. interests in Iraq, and Americans face risk of kidnapping," the statement said. "American businesses, hotels frequented by foreigners, and other facilities in Iraq, including those with U.S. ties, have been attacked." Since the U.S. and Israel attacked Iran, triggering the ongoing war in the Middle East, Iran and Iran-backed Iraqi militias have launched dozens of missile and drone attacks on U.S. bases and diplomatic facilities, energy and communications sites in Iraq, particularly in the semiautonomous northern Kurdish region. Iraq's airspace is closed, with land borders open to cross into Jordan, Kuwait, Saudi Arabia and Turkey. "Americans should strongly consider departing via one of these overland routes if they believe it is safe to do so," the statement said. Egypt urges Iran to stop its attacks on Arab countries Egypt's Foreign Minister has called for Iran to stop its attacks in Arab countries and warned that it should avoid "comprehensive chaos" in the Middle East. Badr Abdelatty's comments Wednesday came in a phone call with Iranian Foreign Minister Abbas Araghchi, according to the Egyptian foreign ministry. Death toll in Lebanon rises to 570 Lebanon's Health Ministry says that the death toll since the latest round of Israel-Hezbollah fighting began on March 2, has risen to 570. The ministry added that 1,444 people have been wounded since then. The ministry said the dead included 86 children and 45 women. Hong Kong's Cathay Pacific to raise fuel surcharge Hong Kong's Cathay Pacific Airways will soon raise its fuel surcharges after experiencing a jump in jet fuel prices during the Iran war, its leaders said Wednesday. The company's CEO, Ronald Lam, said an announcement on surcharge adjustment will be made soon. The airline saw jet fuel prices roughly double in March from the average prices recorded in January and February. Lavinia Lau, the firm's chief customer and commercial officer, reported a surge in demand for routes, including those flying between Hong Kong and Europe, as passengers sought alternatives. The airline has already halted flight services to Dubai and Riyadh for this month. Thai cargo ship struck in Strait of Hormuz; 3 crew members are missing Thai officials say a search is underway for three missing crew members after a Thai cargo ship was struck and set ablaze in the Strait of Hormuz on Wednesday. Thailand's Marine Department said 20 crew members from the ship Mayuree Naree have already been rescued by the Omani navy and brought ashore in Khasab. The department said the three missing crew members were reportedly in the engine room when the explosion occurred. The United Kingdom Maritime Trade Operations center, run by the British military, said earlier that the vessel had been hit just north of Oman in the strait. The Marine Department said it is coordinating with relevant domestic and international agencies for the search and rescue operation and to provide assistance to the affected crew members.
2026-03-11 13:01:00