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An Iranian missile has struck central Tel Aviv, causing widespread damage to buildings and vehicles, and injuring at least six people. The attack has led to a significant escalation of tensions in the region, with Israeli Prime Minister Benjamin Netanyahu vowing to continue striking Tehran and Lebanon.“There’s more to come,” Netanyahu said in remarks that appeared to corroborate those of three Israeli officials who told Reuters they thought it was improbable that Iran would accept US demands in any new round of negotiations. This development has dimmed hopes of de-escalation after US President Donald Trump played up the chances of a deal to end the conflict.In a statement released on Tuesday, Iran’s Islamic Revolutionary Guard Corps said it would launch heavy missile and drone attacks at Israeli troops in northern Israel and the area near Gaza “without restraint” unless Israel ceased attacks in Lebanon and Palestine. The threat has raised concerns about the potential for further escalation in the region.Police said an Iranian munition carrying a substantial explosive payload struck the central city, causing widespread damage to buildings and vehicles. At least six people were lightly injured. Several buildings were damaged across Tel Aviv, with emergency services reporting casualties at one of the impact sites. One building and the adjacent road were heavily affected, with cars set ablaze.Israel’s health ministry reports 4,829 injured people have been brought to hospitals since the onset of the war. Of those people, 111 remain in hospital and 12 are in a serious condition. The strikes were the latest in a cycle of retaliation after Israeli operations announced on Monday.About 40 minutes after Trump said he would delay action against Iran’s power infrastructure, Israel said on X that it had “just begun another wave of strikes targeting infrastructure of the Iranian terror regime across Tehran”. The Israel Defense Forces said energy facilities would be spared, suggesting that Israel may be aligning with Washington in suspending attacks on Iranian power plants and related sites.The US-based Human Rights Activists’ News Agency said in the previous 24 hours it had recorded at least 206 attacks across 15 provinces in Iran, resulting in at least four casualties (killed and injured, both civilian and military). At least six people were killed in strikes on homes in the city of Tabriz, according to Iran’s Fars news agency.Since US-Israeli bombs started falling on Iran, estimates of total deaths (military and civilian) in the country have exceeded 1,500, with some rights groups reporting figures as high as 3,230 as of 21 March. The escalation has also spilled beyond Israel, with Iranian strikes extending into Gulf states.

Japan will begin releasing its largest-ever oil reserves this week, according to Prime Minister Sanae Takaichi. The decision aims to cushion the country against possible energy shortages triggered by the ongoing US-Israel war on Iran and its impact on tanker traffic through the Strait of Hormuz. The government has approved the release of 15 days' worth of private-sector reserves and will start releasing state-owned reserves on Thursday. This move follows concerns that the conflict in the Middle East will continue to disrupt oil supplies. Japan, a resource-poor nation with a significant economy, imports over 90% of its crude oil from the Middle East, making it particularly vulnerable to supply chain disruptions in the region. The release includes about 80 million barrels of stockpiled oil, equivalent to 45 days of domestic demand. This is 1.8 times the quantity made available after the Fukushima Daiichi nuclear power plant disaster in 2011. As of last year, Japan held reserves of approximately 470 million barrels of oil, enough for 254 days of domestic consumption. In addition to the oil reserve release, the government has introduced subsidies for fuel products to cap gasoline prices at about ¥170 ($1.10) per liter. This move comes after the average retail price of gasoline reached a record ¥190.8 per liter. The subsidies will be reviewed weekly based on oil prices. The Strait of Hormuz crisis has also triggered concerns among Japanese consumers about the availability of essential goods, including toilet paper. In response, the trade and industry ministry has advised consumers against hoarding toilet paper, urging them to make rational purchasing decisions based on accurate information.

Sri Lanka's government has rejected a request from the United States to land two combat aircraft at Mattala Rajapaksa International Airport in southern Sri Lanka from March 4 to 8. The request was made on February 26, just before the US and Israel launched their military offensive against Iran.President Anura Kumara Dissanayake told Sri Lanka's parliament that the US wanted to bring two warplanes armed with eight antiship missiles from a base in Djibouti. The government turned down the request to maintain Sri Lanka's neutrality in the conflict.The decision comes amid escalating tensions in the Middle East, with Iranian missile and drone attacks sending energy prices soaring and fuelling fears of a widening conflict. The US-Israeli war on Iran has sparked widespread concern globally, with many countries refusing to get directly involved while calling for urgent de-escalation.Sri Lanka's president also cited his country's neutrality in denying the US request, saying that had they accepted the US request, they would have had to do the same for Iran, which had also made a request for three naval vessels to make a goodwill visit to Sri Lanka on the same day.In recent weeks, Sri Lanka's navy rescued 32 Iranian crew off IRIS Dena after it was torpedoed by a US submarine off the country's coast, killing at least 84 people. Days later, Sri Lanka evacuated more than 200 crew members from a second Iranian vessel, IRIS Bushehr, after the ship requested assistance from Colombo.

Oil prices have experienced a significant surge, rising more than 5%, in the wake of an Israeli strike on Iran's South Pars gasfield. This development comes as the United States-Israeli conflict with Iran continues to escalate.The international standard, Brent crude, rose 5 percent to $108.66 a barrel on Wednesday. Meanwhile, US West Texas Intermediate crude (CLc1), the price barometer for US oil, gained 2.5 percent to $98.65. This widened its discount to Brent to the largest since May 2019, driven by fears of a prolonged conflict.Iranian state media reported that natural gas facilities associated with its offshore South Pars field – the largest gasfield in the world, located off the coast of southern Iran's Bushehr province – were attacked. Iran's Revolutionary Guard threatened to attack oil and gas infrastructure in Qatar, Saudi Arabia, and the United Arab Emirates, heightening the risk of further disruptions to energy supplies in the region.Later on Wednesday, Qatari authorities reported a fire at the country's Ras Laffan gas facility after an Iranian ballistic missile attack. Qatar's Interior Ministry later confirmed that the fire had been brought under control.The US-Israeli war on Iran and Tehran's retaliatory attacks on Gulf neighbours have disrupted oil and natural gas exports from the Middle East and forced production stoppages. Experts warn that if these disruptions keep oil and gas prices elevated for an extended period, the global economy could experience a wave of inflation.Fighting has halted most shipments via the Strait of Hormuz, through which 20 percent of global oil and liquified natural gas supplies pass. Total oil output cuts in the Middle East are estimated at 7 million to 10 million barrels per day or 7 percent to 10 percent of global demand.

US President Donald Trump has requested a delay in his highly anticipated trip to China, initially scheduled for March 31-April 2, by about a month. The decision comes amid the ongoing US-Israeli war on Iran, which has resulted in significant escalation of tensions in the Middle East. “We've requested that we delay it a month or so,” Trump told reporters at the White House on Monday. “There's no tricks to it either. It's very simple. We've got a war going on. I think it's important that I be here.” The delay underscores how the Iran war has upended Trump's foreign policy agenda and risks magnifying tensions between Washington and Beijing. The war has joined trade and Taiwan as among the spectrum of issues separating the world's two biggest economies. Trump's request has been largely rebuffed so far, with China not directly responding to his request to help unblock the Strait of Hormuz, which Iran says is closed to US and Israeli-linked vessels. The Strait of Hormuz is a critical waterway through which one-fifth of the world's oil usually transits. US Secretary of the Treasury Scott Bessent said earlier on Monday that Trump may need to delay the trip due to coordinating the war effort, not because of China's unresponsiveness to Trump's request or because of any trade disagreements. “The president wants to remain in DC to coordinate the war effort. Traveling abroad at a time like this may not be optimal,” Bessent said. In related trade negotiations, the Chinese showed openness to potential additional purchases of US agricultural goods, including poultry, beef, and non-soya bean row crops, during talks with Chinese Vice Premier He Lifeng in Paris.

The world is currently experiencing a severe energy crisis, surpassing the combined impact of the 1970s oil shocks and the Ukraine war, according to Fatih Birol, Executive Director of the International Energy Agency (IEA). Speaking at a media event in Australia, Birol warned that the energy crunch prompted by the US-Israel war on Iran has exceeded the 1973 and 1979 oil shocks and gas shortages stemming from Russia's 2022 invasion of Ukraine.Birol stated that the crisis is equivalent to two oil crises and one gas crash combined. He noted that the effective closure of the Strait of Hormuz and attacks on energy facilities have reduced global oil supplies by about 11 million barrels per day (bpd), more than double the combined shortfalls of the 1970s crises. Additionally, liquefied natural gas (LNG) supplies have been reduced by about 140 billion cubic meters, compared to a shortfall of 75bcm in the aftermath of Ukraine's invasion by Russia.At least 40 energy facilities across nine countries have been severely damaged in the conflict, according to the IEA chief. Birol emphasized that the global economy is facing a major threat and expressed hope that the issue will be resolved soon.Birol also expressed concern that the scale of the crisis had not been fully understood, which prompted him to speak publicly about the situation. The IEA has proposed measures to reduce energy consumption, including facilitating remote working and carpooling, and lowering speed limits on motorways.The IEA chief is in consultation with different countries about releasing more strategic oil reserves if needed. However, he emphasized that the single most important solution to the crisis is to unblock the Strait of Hormuz, which usually carries about one-fifth of global oil and LNG supplies.

US President Donald Trump has taken to social media to mock UK Prime Minister Keir Starmer, sharing a Saturday Night Live (SNL) skit that depicts Starmer panicking at the prospect of a call with Trump. The skit, which aired on the premiere of the new British version of SNL, shows Starmer, played by George Fouracres, trying to avoid a call with Trump.The video was shared on the same evening that Trump and Starmer spoke about the escalating tensions in the Middle East and the US-Israel war on Iran. During their call, the two leaders focused on the need to reopen the Strait of Hormuz, which has been effectively blocked by Iran since the US and Israel launched strikes on February 28.The closure of the strait has sent oil prices soaring, creating the biggest energy crisis since the 1970s. Trump has repeatedly criticized Starmer for not doing enough to support the US efforts to break the blockade, accusing him of being a 'coward' and saying he is 'disappointed' in him.Starmer has asserted that any attempt to reopen the Strait of Hormuz needs careful consideration and a viable plan, and that his number one priority is to protect British interests and de-escalate tensions. The UK government has given authorization for the US to use its military bases to carry out strikes on Iranian missile sites that were attacking ships in the Strait of Hormuz.

Israel and the United States have launched a new wave of attacks against Iran, escalating the conflict in the region. The Israeli military confirmed that it carried out a second round of strikes, hours after initiating a wide-scale wave of attacks on infrastructure targets in Tehran. Al Jazeera Arabic's correspondent in Tehran reported that the size and volume of the explosions in the Iranian capital were unprecedented, especially on the eastern side of the city. Iranian air defense systems were activated in response to US-Israeli drones hovering over the city. According to Mohamad Elmasry of the Doha Institute for Graduate Studies, the war is escalating, with US and Israeli forces hitting not only military installations but also hospitals, schools, and over 5,000 residential units. He warned that the situation is becoming increasingly dangerous, especially for the people of Iran. Iran's Fars news agency reported that a strike on a residential building in Khorramabad killed one child and wounded several people, while at least six people were killed in strikes on homes in Tabriz city. The Iranian Red Crescent Society stated that over 80,000 civilian building units have been hit, with some fully demolished. The US military targeted a turbine engine production site in Qom province, used for drone and aircraft components linked to the Islamic Revolutionary Guard Corps (IRGC). Meanwhile, Iranian missile strikes continued overnight in Israel, with falling shrapnel reported across several locations. Iran's Foreign Ministry denied any dialogue with the US, claiming that President Trump's comments aimed to reduce energy prices and buy time to implement military plans. The IRGC warned that if the US targets Iran's power plants, it will hit power plants in areas supplying electricity to US bases and American interests. The conflict has resulted in over 1,500 deaths in Iran and 15 deaths in Israel. The situation has also unsettled oil markets, with prices fluctuating as Asian trading opened. The head of the International Energy Agency warned that the situation in the Middle East is very severe and worse than the two energy crises of the 1970s combined.