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Global markets were jolted on Thursday as oil prices skyrocketed and stocks sank following a televised address by Donald Trump, in which he vowed to take 'extremely hard' action against Iran in the coming weeks. This development has dashed investor hopes of a swift resolution to the conflict in the Middle East.Brent crude prices jumped by 8% to surpass $109 a barrel, reversing the previous day's decline when hopes of de-escalation had briefly pushed the international benchmark below $100 a barrel.Asian markets were particularly hard hit, with Japan's Nikkei index falling 2.4%, China's CSI 300 index dropping 1.36%, and South Korea's Kospi tumbling 4.8%. In Europe, Germany's Dax fell 2%, France's Cac 40 dropped 1.15%, and Italy's FTSE Mib was down 1.45%. The FTSE 100 in London initially opened 0.7% lower but later stabilized, buoyed by gains in fossil fuel companies BP and Shell, which rose 4.5% and 3.1% respectively.Government borrowing costs also increased, with the yield on 10-year UK gilts rising four basis points to 4.886% and the two-year UK bond yield rising six basis points to 4.36%, reflecting growing fears of inflation due to higher energy costs.Chris Beauchamp, chief market analyst at IG, noted that investors are betting on the impact of delayed oil supply deliveries from the Gulf, given Trump's failure to provide guidance on a potential end to the US-Israeli conflict with Iran. 'Instead of 'no more war', we got 'no, more war!', Beauchamp said, highlighting the market's concerns about hundreds of millions of barrels of oil that may not be delivered soon.The US dollar gained 0.6% against a basket of major currencies as investors sought safe-haven assets, pushing the pound down by almost a cent to $1.321. The market turmoil is already affecting consumers, with the Bank of England warning that 1.3 million more homeowners may see their mortgage payments rise due to financial shocks from the Iran conflict.Additionally, data from the RAC showed that petrol and diesel prices jumped by a record amount in March, with the average price of a litre of unleaded petrol rising by 20p to 152.83p by the end of the month, surpassing the previous monthly record.

The United States is expanding its military footprint in the Gulf as the US‑Israel war with Iran enters its second month. Since the Feb. 28 launch of Operation Epic Fury, a joint air campaign targeting Iranian military and nuclear sites, more than four weeks of strikes have resulted in thousands of casualties.Defense Secretary Pete Hegseth announced the deployment of a third aircraft carrier, the USS George HW Bush, joining the USS Abraham Lincoln, which is currently conducting daily combat sorties from the Arabian Sea, and the USS Gerald Ford, now under maintenance in Croatia.These carrier groups carry thousands of sailors, Marines and specialised support personnel, forming the core of the US’s power projection in the region.Carrier Strike Group (CSG) refers to an aircraft carrier plus its escort ships and support units that together function as a floating base. A typical CSG includes:An aircraft carrier60‑75 fighter jets and helicopters2‑4 Arleigh Burke‑class destroyersA guided‑missile cruiserA submarine for underwater protectionSupply shipsAs of April 1, the USS Abraham Lincoln remains the only carrier launching daily combat missions against Iranian targets, while the USS George HW Bush is en route and expected to eventually replace the Gerald Ford in the Mediterranean.Amphibious Ready Group (ARG) operates as a mini‑carrier, carrying US Marines and equipment for sea‑to‑land invasions. The USS Tripoli ARG arrived in the Middle East on March 27, and the USS Boxer ARG is expected to join the theater by mid‑April. An ARG typically comprises:Three specialised ships~2,200 Marines (a Marine Expeditionary Unit)Short‑takeoff aircraftLanding craft for beach assaultsThe key distinction: ARGs are built to land troops on shore, whereas CSGs are designed to project air power and conduct major naval warfare.A Marine Expeditionary Unit (MEU) is a rapid‑response, self‑contained force of 2,200‑2,500 Marine Corps personnel capable of combat and humanitarian missions. On Friday, US Central Command confirmed that 2,200 Marines from the 31st MEU arrived in Middle Eastern waters after departing Sasebo, Japan, on March 13. A second unit, the 11th MEU with roughly 2,500 Marines, is inbound after leaving San Diego on March 18.The Pentagon has also ordered about 2,000 soldiers from the 82nd Airborne Division to move to the region, adding to the approximately 50,000 US troops already stationed in the Middle East.An MEU is organized into four elements:Command Element – ~200 personnel for planning and command‑and‑control.Ground Combat Element – ~1,200 troops centered on an infantry battalion with artillery and armoured vehicles.Aviation Combat Element – ~500 personnel operating transport helicopters, attack aircraft and Osprey tilt‑rotors.Logistics Combat Element – ~300 personnel providing up to 15 days of self‑sustainment, including medical, engineering and maintenance support.MEUs are typically deployed aboard a three‑ship ARG, which serves as a floating base. The ships include:Landing Helicopter Assault/Dock – a small carrier carrying short‑takeoff aircraft such as F‑35Bs and attack helicopters.Amphibious Transport Dock – a mid‑size vessel transporting troops and heavy vehicles.Dock Landing Ship – primarily for cargo and heavy equipment.MEUs can execute sea‑to‑land assaults, raids, evacuations, humanitarian aid and disaster‑relief operations, and they are often the first forces on the ground in emerging conflicts.The US Marine Corps maintains seven active MEUs; the 31st (Asia‑Pacific) and 11th (West Coast) are currently assigned to the Iran war. The other units are distributed as follows:East Coast: 22nd, 24th, 26th MEUWest Coast: 11th, 13th, 15th MEUAsia‑Pacific: 31st MEUTypically, three MEUs are forward‑positioned at any time, rotating through deployments in the Mediterranean, Gulf and Asia‑Pacific regions.Historically, MEUs have played pivotal roles in US operations: during the 2001 Afghanistan invasion, the 15th and 26th MEUs conducted one of the longest amphibious vertical insertions; in 2003‑2004 they helped secure Iraqi ports and fought in Fallujah; and in 2024 they provided sea‑based support for the attempted abduction of Venezuelan President Nicolás Maduro.

The United Kingdom is set to convene a virtual meeting of 35 countries to assess measures to reopen the Strait of Hormuz, a critical Gulf waterway that has been effectively closed due to the US-Israeli war on Iran. British Prime Minister Keir Starmer announced that UK Foreign Minister Yvette Cooper would host the meeting on Thursday.The meeting aims to “assess all viable diplomatic and political measures that we can take to restore freedom of navigation, guarantee the safety of trapped ships and seafarers and resume the movement of vital commodities”, according to Starmer.Countries around the world have raised serious concerns about Iran’s effective closure of the strait, through which about one-fifth of the world’s oil and liquified natural gas supplies transit. The closure has sent global energy prices soaring and pushed nations to announce that they would release some of their strategic oil and gas reserves in an effort to lessen the crisis.Starmer emphasized that reopening the strait “will not be easy” and that countries that recently signed a statement saying they were ready “to contribute to appropriate efforts to ensure safe passage through the Strait of Hormuz” would take part in this week’s talks.In addition to the UK, France, Germany, Italy, Japan, and the Netherlands are among the countries to have signed it. The UK and other European countries have faced condemnation from US President Donald Trump, who has accused them of both failing to take action to reopen the strait and not providing sufficient support to Washington in its war effort.

Iran's aggressive actions have led to a series of incidents across the Gulf region. Kuwait's international airport was hit by drones from Iran, causing a large fire at its fuel tanks. The airport's spokesman, Abdullah al-Rajhi, confirmed that the attacks were 'brazen' and resulted in material damage but no human injuries.In Bahrain, a fire broke out at an undisclosed company facility due to Iranian aggression, with civil defence crews working to extinguish the blaze. The incident has heightened concerns about the stability of the region.The United Arab Emirates also reported a fatality, with shrapnel from a drone interception killing a Bangladeshi national on a farm in Fujairah city. Authorities are investigating the incident.These attacks are part of a broader conflict between Iran and a US-Israeli coalition. Iran has claimed to target US assets, but Gulf nations assert that Tehran's actions have targeted civilian infrastructure.The economic impact of the conflict is significant, with a UN report estimating that the Arab world's GDP could decline by 3.7 to 6 percent, equivalent to a contraction of $120bn to $194bn, after just one month of war.Diplomatic efforts to end the conflict have been complicated by contradictory statements from US President Donald Trump about the potential for a quick exit. Iran has dismissed a US ceasefire proposal as 'maximalist' and 'unreasonable', demanding compensation for damages and a permanent end to hostilities.

Iranian Foreign Minister Abbas Araghchi told Al Jazeera that he has exchanged messages with Steve Witkoff, the senior envoy appointed by President Donald Trump, but stressed that these contacts do not constitute formal negotiations. "I receive messages from Witkoff directly, as before, and this does not mean that we are in negotiations," Araghchi said, adding that all communications are routed through the Foreign Ministry and security agencies. The minister highlighted Iran’s historic mistrust of US diplomatic overtures, recalling Washington’s withdrawal from the 2015 nuclear agreement and two recent attacks on Iranian territory during ongoing talks. Araghchi noted that Pakistan has been facilitating the recent exchanges and has also hosted regional discussions involving Saudi Arabia, Egypt and Turkey to build momentum for direct Iran‑US dialogue. Additionally, Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar visited Beijing to seek Chinese backing for these efforts. Regarding the strategic Strait of Hormuz, Araghchi asserted that the waterway falls under the joint jurisdiction of Iran and Oman. He said that once hostilities cease, the two nations will decide its future, emphasizing that the strait should remain a "peaceful waterway." While acknowledging that Gulf states such as Qatar want a seat at the table, Araghchi maintained that the strait is open to commercial vessels from all nations except those actively at war with Iran, which is a standard wartime measure. He also mentioned that ships from India, Pakistan, Turkey and China have already negotiated transit through the strait, underscoring its continued commercial relevance. On the prospect of a US ground invasion, Araghchi warned that Iran is fully prepared to confront any such move. "We are waiting for them," he said, adding that Iranian forces possess the strength to repel a land assault and that the United States would be making a grave mistake by attempting one. These statements come as the Trump administration reportedly increases troop deployments in the Gulf and explores contingency plans for a possible invasion of Iran.

President Donald Trump told allies that Tehran does not need to negotiate a settlement for the hostilities to cease, estimating the conflict could be over in two to three weeks. Iranian Foreign Minister Abbas Araghchi, however, dismissed any hope of talks, stating that Tehran has zero trust in Washington.US‑Israeli air raids persist across Iran, hitting key industrial and civilian targets such as steel factories in Isfahan and Farokhshahr, pharmaceutical facilities, port infrastructure, meteorological stations and a residential complex. Iranian state media and the Red Crescent reported explosions in cities including Ahvaz, Shiraz, Isfahan, Karaj, Kermanshah and Bandar Abbas.An Iranian official said the Tofigh Daru pharmaceutical raw‑material plant in Tehran was struck, crippling its research and development wing and delivering a "blow to the national medical supply chain." In Bandar Abbas, the Shahid Haqqani passenger pier was bombed, though officials claimed no casualties.A desalination plant on Qeshm Island, crucial for water supply in the Strait of Hormuz, was knocked out of service by the strikes.Analyst Trita Parsi warned that the war is unlikely to end swiftly and that the Strait of Hormuz will remain closed, noting that it will not be easy for President Trump to simply walk away from the conflict.Casualties have surpassed 2,000 Iranians, with numerous civilian sites—including hospitals, schools, universities and pharmaceutical factories—targeted, raising concerns of potential war‑crime violations.On the diplomatic front, Spain, France and Italy have begun curbing U.S. military operations by closing airspace, denying base access and limiting logistical support. Meanwhile, China and Pakistan have tabled a five‑point cease‑fire proposal that calls for reopening the Strait of Hormuz.Regional leaders are also active: Qatar’s Emir Sheikh Tamim bin Hamad Al Thani and UAE President Sheikh Mohamed bin Zayed Al Nahyan have convened to discuss the Iran war, while Argentina, under President Javier Milei, officially labeled Iran’s Islamic Revolutionary Guard Corps as a “terrorist” organization.Pope Francis (Leo XIV) appealed directly to President Trump, urging an end to the violence and expressing hope that the U.S. leader is moving toward a resolution.In the Gulf, Iranian drones have repeatedly struck Kuwait’s airport, forcing the closure of its airspace since late February; Saudi Arabia has stepped in to provide transport for affected passengers. Bahrain sounded air‑raid sirens, and Saudi forces reported intercepting two additional drones.A merchant vessel north of Doha suffered damage from an "unknown projectile," though the crew remained unharmed and no environmental harm was recorded.U.S. officials remain divided: while Trump predicts a rapid end, Defense Secretary Pete Hegseth warned that the United States is "negotiating with bombs" and that the coming days are decisive. The war’s uncertainty has pushed oil prices higher, prompting U.S. Senator Chris Coons to warn that American families face rising grocery, utility and mortgage costs.Israel continues to face coordinated attacks from Iran and Hezbollah, with missile and drone incursions reported across northern and central regions. Despite these threats, Prime Minister Benjamin Netanyahu asserted that Iran’s regional allies no longer pose an "existential threat," yet Israel plans to maintain its offensive, including operations in Lebanon.In Lebanon, Israeli ground advances and heavy bombardments have resulted in over 1,200 deaths and displaced roughly 1.2 million people since early March. Iraqi militia Kata’ib Sayyid al‑Shuhada warned that any U.S. ground incursion into Iran via Kuwait could trigger an all‑out war.

Closing the Strait of Hormuz has choked a vital artery that carries roughly one‑fifth of the world’s crude oil and LNG, sending energy prices soaring and unsettling global trade. Even if the waterway reopens tomorrow, analysts say the ripple effects will endure for months. Nils Haupt, senior director of corporate communications at German carrier Hapag‑Lloyd, told Al Jazeera that the end of hostilities does not equate to the end of logistics challenges. “Once the bombardments stop, the real work begins,” he said, noting that hundreds of vessels will scramble for berths in Persian Gulf ports, creating a prolonged bottleneck for containers and bulk cargo. According to the International Maritime Organization, about 2,000 ships are currently stranded because of Iran’s partial blockade, with only a handful of vessels from “friendly” nations granted passage. Maritime‑intelligence firm Windward estimates that roughly 400 of those ships are anchored in the Gulf of Oman, waiting for a green light. Diverted traffic has already forced many carriers to reroute via the Suez Canal or take the far longer Cape of Good Hope passage, inflating transit times and costs for shipments bound for Asia and Europe. Oil exports from Saudi Arabia are now being sent around the Red Sea, bypassing the strait entirely. Svein Ringbakken, managing director of the Norwegian Shipowners’ Mutual War Risks Association, cautioned that even with ports operating at full capacity, clearing the backlog of oil, gas and other goods will take months. He added that repeated attacks on regional energy and transport infrastructure have compounded the problem. The International Energy Agency reports that more than 40 energy assets across the Middle East have suffered “severe or very severe” damage, prompting companies such as QatarEnergy, Kuwait Petroleum Company and Bahrain’s Bapco Energies to declare force majeure. Beyond the immediate loss of flow, the shutdown has disrupted exports of petrochemicals, fertilisers and raw materials essential for plastics production, further straining global supply chains. Industry leaders warn that the risk landscape has fundamentally shifted. SV Anchan, chairman of US‑based logistics group Safesea, highlighted the rise of asymmetric threats, including unmanned vessel attacks, which have already accounted for at least 18 confirmed assaults since the conflict began. “A full reopening will only bring normalcy after a sustained period of stability and credible security guarantees,” Anchan said. Insurance costs have exploded as a result. Marco Forgione of the Chartered Institute of Export & International Trade noted that hull and cargo premiums have surged up to 300 %, a pressure point that could force shipping firms to curtail operations if rates remain high. Oscar Seikaly, CEO of NSI Insurance Group, stressed that war‑risk coverage will only normalize when a “truly permanent” security solution is in place, not a partial one. Recent data from Lloyd’s List show that a few vessels have managed to obtain Tehran’s permission to transit, with one ship reportedly paying $2 million for the right to pass. Iranian lawmakers have also moved to formalise transit fees for the strait. Nick Marro, lead global‑trade analyst at the Economist Intelligence Unit, warned that the security guarantees demanded by shippers may be hard to meet, citing the volatile Red Sea experience where commercial traffic remains below pre‑2023 levels. Marro predicts that the Hormuz shutdown will accelerate a broader trend of route diversification, similar to the supply‑chain shifts triggered by the COVID‑19 pandemic. “Geopolitical uncertainty will become a permanent feature of risk management, not a temporary reaction,” he said. Seikaly echoed this outlook, suggesting that exporters will increasingly explore alternative corridors for strategic and political reasons, ultimately reducing traffic through the Strait of Hormuz over the long term.

The US government's Endangered Species Committee has voted unanimously to exempt oil and gas drillers in the Gulf of Mexico from protections under the Endangered Species Act. This decision, made during a rare meeting, has significant implications for vulnerable species in the region.The committee, composed of six senior Trump officials, including Secretary of Defense Pete Hegseth, argued that environmental rules could hinder US energy production, particularly during the ongoing tensions with Iran. Hegseth stated that disruptions to Gulf oil production would not only affect the US but also benefit its adversaries.The exemption is only the fourth time in US history that the Endangered Species Committee has convened, and the third time it has granted an exemption to the Endangered Species Act. Rice's whale, with only about 50 remaining, is one of the species protected by the act in the Gulf of Mexico. Other species, such as birds, sea turtles, and Gulf sturgeon, are also safeguarded.Environmental groups have strongly objected to the decision, labeling the committee a 'god squad' due to its power over species' existence. They plan to challenge the exemptions, arguing that the Trump administration failed to follow the protocols set out under the Endangered Species Act and that the rationale for the exemption is not justified by facts.This move is part of the Trump administration's broader effort to roll back environmental protections and promote pro-fossil fuel policies, despite dismissing climate change as a 'hoax'. Critics warn that this action could lead to the extinction of species, with one expert stating that Trump could be the first person in history to knowingly extirpate a species from the face of the earth.

President Donald Trump has made a bold statement regarding the ongoing conflict with Iran, suggesting that the US could potentially end the war within two to three weeks. He emphasized that a deal is not a prerequisite for the US to withdraw from the conflict, indicating a possible shift in his diplomatic approach.Trump's comments come amid rising tensions and escalating energy prices, with domestic petrol prices in the US jumping past an average of $4 a gallon. The conflict has disrupted energy supplies and shaken the global economy, with Iran's attacks on Gulf oil facilities and its continued control over fuel supplies through the Strait of Hormuz, a vital waterway through which one-fifth of the world's oil and liquified natural gas passes.In a surprising move, Trump has criticized allied countries for not providing sufficient support in the conflict. He took aim at countries like the UK, telling them to either buy US fuel or get involved in the rapidly escalating war. 'Go get your own oil!' he stated, emphasizing that the US wouldn't be there to help them anymore.Trump's statements have been met with caution by experts, who note that it would not be easy for him to simply walk out of a conflict that has spread across the region and resulted in thousands of deaths. Trita Parsi, a foreign policy expert, suggested that Trump's comments should be treated with skepticism, predicting that the timeline for the conflict would likely continue to be extended.The conflict has also drawn in other countries, with Israeli Prime Minister Benjamin Netanyahu arguing that the war on Iran was 'definitely beyond the halfway point.' The situation remains volatile, with experts warning that Iran will continue to control the Strait of Hormuz and potentially continue to target it.