Dubai, Mar 13: Global oil prices surged past $100 per barrel as intense military strikes by the United States and Israel targeted Iran, while Tehran continued retaliatory attacks on shipping lanes and energy infrastructure across the Persian Gulf.
Explosions were reported in and around the Iranian capital, Tehran, as the conflict showed no signs of easing. At the same time, Iran intensified strikes targeting Gulf states, widening the scope of the conflict across West Asia.
US President Donald Trump said Washington would “finish the job,” claiming Iran’s military capabilities had been severely damaged. According to the Pentagon, the first week of the war has already cost the United States about $11.3 billion.
The humanitarian toll is also mounting. The United Nations High Commissioner for Refugees said nearly 3.2 million people in Iran have been displaced by the fighting. In neighbouring Lebanon, authorities estimate around 800,000 residents have fled their homes amid widespread destruction linked to Israeli attacks on positions associated with the Iran-backed group Hezbollah.
Casualties across the region continue to rise. More than 1,300 people have been reported killed in Iran, while over 600 deaths have been recorded in Lebanon. Israel has reported at least a dozen fatalities, and seven American soldiers have also been killed during the conflict.
Meanwhile, Saudi Arabia reported intercepting nearly 50 drones targeting its territory within a few hours. The kingdom’s defence ministry said several drones were headed toward its Eastern and Central provinces, where key oil infrastructure and military facilities are located.
In the United Arab Emirates, thick black smoke was seen over parts of Dubai after debris from a missile interception triggered a fire in the Al Quoz industrial district. Authorities confirmed the incident caused minor damage to a building façade but reported no injuries.
The conflict also expanded to Lebanon’s capital. Israeli strikes hit new locations in Beirut, including the coastal neighbourhood of Jnah, where one person was killed after a car was struck. Another airstrike set an apartment building ablaze in Nabaa, an area known for its Armenian community.
The Israeli military said the strikes targeted a member of Hezbollah operating in the city.
Elsewhere, a missile strike on the northern Israeli town of Zarzir injured 58 people, according to the country’s emergency service Magen David Adom. Most victims suffered minor injuries from shattered glass, while one person was reported to be in moderate condition.
In Iraq’s Kurdish region, a drone attack near Irbil killed a French soldier and wounded several others, French President Emmanuel Macron confirmed. The troops were deployed as part of a multinational mission supporting local forces against militants linked to the Islamic State.
With military actions spreading across multiple countries, the intensifying conflict has raised fears of a wider regional war while also disrupting global energy markets.