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As oil prices surge, some economies benefit while others face rising costs.

Irth Capital offers $47 per share for Papa John's International, sources have told Reuters news agency.

Concerns mount over oil in Strait of Hormuz as war in Iran continues  CBS News

Saudi and UAE ambassadors to the UN condemn Iranian attacks ahead of Security Council meeting.

LONDON, March 12 (Reuters) - The war in the Middle East is creating the biggest oil supply disruption in the history of the global market, the International Energy Agency said on Thursday, a day after the agency agreed to release a record volume of oil from strategic stockpiles. Middle East Gulf countries have cut total oil production by at least 10 million bpd - a volume equal to almost 10% of world demand - as a result of the conflict, the agency said in its latest monthly oil market report. Without a rapid restart of shipping flows, these losses are set to increase, IEA said.

IEA director says energy markets at 'critical turning point' IEA Executive Director Fatih Birol said on Thursday that global energy markets are at a "critical turning point," after his agency on Wednesday recommended a coordinated release of global reserve oil in the face of the Iran war. The closure of the Strait of Hormuz prompted the IEA's announcement, he said at an Istanbul press conference. The International Energy Agency, made up of major oil consuming nations, recommended releasing 400 million barrels from global strategic reserves to dampen one of the worst oil shocks since the 1970s, the biggest such intervention in history. A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq's territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, 12 March, 2026. (Reuters/Mohammed)

As Iran pinches the Strait of Hormuz, American farmers are getting squeezed  The Christian Science Monitor

Oil prices and financial markets remained under pressure after three more cargo vessels were hit in the Gulf.

Countries such as Indonesia and Vietnam heavily depend on fuel imports and have limited energy reserves.

How shipping companies are navigating danger in the Strait of Hormuz  CBC

Planning to study in the Gulf? What the Iran conflict means for Indian students  India Today

Oil rose above $100 again as six ships attacked in just two days in Persian Gulf  CNN

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Bahrain reports an attack on fuel tanks as Saudi Arabia shoots down drones headed towards an oilfield.

Smoke plumes rising nearby Bahrain Airport Reuters reported plumes of smoke rising from the vicinity of Bahrain Airport. Situation in the area remains unclear.

Report Claims India-Flagged Tankers Pass Through Hormuz, Iran Reacts  NDTV

Iran to allow India-flagged tankers pass through Strait of Hormuz, Indian source says Iran will allow India-flagged tankers to pass through the Strait of Hormuz, a key artery for global oil trade, an Indian source said on Thursday. An Iranian source denied allowing the tankers to pass through. This handout photo taken on 11 March, 2026 and released by the Royal Thai Navy shows smoke rising from the Thai bulk carrier 'Mayuree Naree' near the Strait of Hormuz after an attack. (AFP / Royal Thai Navy)

Iran's new supreme leader ordered the vital Strait of Hormuz oil shipping lane to remain closed on Thursday, while US President Donald Trump said stopping the Islamic republic's "evil empire" was more important than crude prices. Ayatollah Mojtaba Khamenei, who was reportedly injured in an air strike, has yet to appear publicly since his nomination last Sunday as supreme leader, and his defiant message was read by a newscaster on state television.