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.

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Newly elected PM Rahman has blamed Sheikh Hasina and her Awami League party for undermining the previous parliament.

Fallen debris in Dubai after drone attack, Kuwait airport hit Dubai reported a drone attack and fallen debris in two locations on Thursday, while Kuwait's airport was damaged in yet another strike on the facility during Iran's Gulf campaign in the Middle East war. The Dubai government's media office reported "a minor incident caused by debris from a successful interception that fell onto the facade of a building on Sheikh Zayed Road".  Earlier, the media office reported "a minor drone incident in the Al Bada'a area". Both incidents caused no casualties, it said in the statements on X.

Indian crew member killed on oil tanker attacked near Iraq's Basra An Indian crew member on a US-owned crude oil tanker was killed in an attack near Basra on Wednesday, India’s embassy in Baghdad said. The embassy said in a post on X that the remaining 15 Indian crew members aboard the Safesea Vishnu, which sails under the Marshall Islands flag, have been evacuated to a safe location.

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The impact is being felt thousands of miles away from the conflict

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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.

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Protester alleges that Iranian handler ‘turned around and looked at us and then drew a line on his throat and pointed to us’ Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Australian police investigated a complaint involving an Iranian regime-linked handler for the country’s football team after a group of activists alleged he threatened to kill them them at a Women’s Asian Cup match last week. The criminal investigation, confirmed by Queensland police, has led to renewed calls from the Iranian diaspora for tougher immigration screening processes to block people linked to Iran’s Islamic Revolutionary Guard Corps (IRGC) – a proscribed state sponsor of terrorism – from entering the country. Continue reading...

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Several drones target Kuwait International Airport, report says Several drones targeted Kuwait International Airport, causing only material damage, the state news agency reported, citing the country's civil aviation officials.

Milei praises lawyer for complaint, which alleges rhetoric 'fuels prejudices, trivializes antisemitism, and can generate hostility or violence'; Tomás Rebord calls Milei 'imbecile' The post Argentine streamer draws antisemitism complaint for mocking Milei’s Israel support appeared first on The Times of Israel.

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

Indonesian defence minister says Morotai Island in North Maluku province may be site of future joint training facility.