Iran’s unrelenting attacks on Mideast shipping and energy infrastructure send oil prices soaring
Mar 11, 2026, 10:44 PM | Updated: Mar 12, 2026, 6:18 pm
DUBAI, United Arab Emirates (AP) — Unrelenting Iranian attacks on shipping traffic and energy infrastructure pushed oil above $100 a barrel on Thursday, as American and Israeli strikes pounded the Islamic Republic with no sign of an end to the war in sight.
Iran hit a container ship off the coast of Dubai, caused a blaze near Bahrain’s international airport, targeted a major Saudi oil field with a drone attack and forced Iraq to halt operations at all the country’s oil terminals after an attack on its port of Basra on the Persian Gulf.
Iran flouted a United Nations Security Council resolution from the previous day demanding that it halt strikes on its Gulf neighbors with new attacks also reported in Kuwait and the United Arab Emirates.
Sirens wailed before dawn in Jerusalem after Israel said it was working to intercept missiles launched from Iran. The country also announced it had begun a “wide-scale wave of strikes” on Tehran. In Lebanon, where Israel says it is targeting Iran-linked Hezbollah militants, 11 people were killed in two early morning strikes.
Since the United States and Israel sparked with war with a Feb. 28 attack on Iran, Tehran has embarked on a campaign generated at inflicting enough global economic pain to pressure them to relent in their attacks.
In addition to attacking energy infrastructure around the region, Iran has a stranglehold on the Strait of Hormuz, the strategic waterway leading from the Persian Gulf toward the Indian Ocean through which a fifth of the world’s oil is transported.
With traffic in the Strait effectively stopped, the price of Brent crude oil, the international standard, rose another 9% on Thursday to more than $100 a barrel, up some 38% over what it cost when the war started.
The U.N. Security Council voted Wednesday to approve a resolution demanding a halt to Iran’s “egregious attacks” on its Gulf neighbors, but Tehran showed no signs of changing its strategy.
As the day began Thursday, a container ship in the Persian Gulf was hit with a projectile off the coast of Dubai, sparking a small fire, according to British military’s United Kingdom Maritime Trade Operations Center. It said the crew of the vessel were safe.
In Bahrain, an early Iranian attack sparked a major fire on Muharraq Island, home to the country’s international airport. Authorities urged people to stay indoors and close windows to avoid smoke. The airport has jet fuel tanks, and other tanks in the area serve the kingdom’s oil industry.
Kuwait’s Defense Ministry said an Iranian drone smashed into a residential building, wounding two people, the UAE said it had activated air defenses twice to protect Dubai from attacks, and firefighters extinguished a blaze at a tower in Dubai Creek Harbor after a drone hit.
Saudi Arabia said it had shot down a drone targeting the diplomatic quarter of the capital, Riyadh, and also reported downing drones in kingdom’s east, including at least one trying to target its Shaybah oil field in the Empty Quarter desert.
Following an attack on Iraq’s Basra port that killed at least one person, officials said Thursday that it had been forced to halt operations at all the country’s oil terminals.
Farhan al-Fartousi, the director-general of the General Company for Ports of Iraq, said the attack targeted a vessel in a ship-to-ship transfer area of the Persian Gulf port.
Sirens wailed and loud explosions were heard shortly after midnight in Jerusalem and other parts of Israel. The Israeli military said it was responding with another “wide-scale wave of strikes” in Tehran.
Overnight missile launches from Iran and Hezbollah also sent Israelis to shelters in multiple other areas, including Tel Aviv and the northern border with Lebanon.
An Israeli strike hit a car Thursday in Ramlet al-Bayda, a major seaside tourist area of Beirut where dozens of displaced people have been sheltering. Eight people were killed and 31 others were wounded, the Lebanese Health Ministry said. The Israeli military press office told The Associated Press it was “not aware” of a strike at that location.
In Aramoun, a town about 10 kilometers (six miles) south of Beirut, another three people were killed and a child was wounded in another early Israeli attack.
At least 634 people have been killed in Lebanon since the latest fighting began, the Lebanese Health Ministry said Wednesday.
The U.N. refugee agency said at least 759,000 people have been internally displaced in Lebanon.
Iranian authorities say more than 1,300 people have been killed there, and Israel has reported 12 people dead. The U.S. has lost seven soldiers while another eight have suffered severe injuries.
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Abou AlJoud reported from Beirut and Rising from Bangkok. Associated Press writer Sam Mednick in Tel Aviv, Israel, also contributed to this report, along with AP journalists around the world.
