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German arms maker Rheinmetall said Wednesday the Middle East war offered new business opportunities, especially for its air defence systems, as it forecast continued strong growth this year. The conflict began with US-Israeli strikes on Iran at the end of February, triggering retaliatory Iranian attacks across the region, as well as turmoil on global markets. Rheinmetall, whose business has boomed since Russia's 2022 full-scale invasion of Ukraine spurred a re-armament drive in Europe, said it may now turn its attention to the Middle East.

At least 85 countries have reported petrol price rises since the attacks on Iran by the US and Israel on February 28.

Germany and Austria say they are releasing parts of their oil reserves following an International Energy Agency request for its members to release 400 million barrels to help temper energy price spikes due to the Iran war

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By Angelo Amante and Giuseppe Fonte ROME, March 11 (Reuters) - Italy's Prime Minister Giorgia Meloni on Wednesday delivered her strongest criticism yet of the U.S.-Israeli war on Iran, describing it as part of a growing and dangerous trend of interventions "outside the scope of international law".

By Sabine Siebold BERLIN, March 11 (Reuters) - Ukrainian military trainers will help Germany's military meet a target of being ready to defend against any Russian attack on NATO by 2029, the German army chief said, in a role reversal after years of Western troops training Ukrainian forces. Berlin and Kyiv agreed last month that Ukraine would send military instructors to German army schools to teach lessons they have learned from fighting against Russia's invasion.

DUBAI, March 11 (Reuters) - Three vessels have been hit by unknown projectiles in the Strait of Hormuz, maritime security agencies and sources said on Wednesday, as one of the strikes led to a fire onboard a ship and forced most of its crew to evacuate it. The Thailand-flagged bulk carrier Mayuree Naree was targeted and damaged approximately 11 nautical miles north of Oman, two maritime security sources said.

By Samia Nakhoul DUBAI, March 11 (Reuters) - The U.S. may have pulled the trigger on the Iran war, but it is the oil-producing Gulf that will pay the price, Gulf sources and analysts say, signalling unease in ties between a region under Iranian attack and the superpower it relies on for protection.

Rising fuel prices are pushing more people to use public transport and prompting a four-day work week in Manila.

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Iran's new supreme leader Mojtaba Khamenei is injured but "safe and sound", the son of the president said Wednesday, offering the first official explanation for why the 56-year-old has not been seen since his appointment at the weekend. "I heard news that Mr Mojtaba Khamenei had been injured. I have asked some friends who had connections," Yousef Pezeshkian, who is also a government adviser, wrote in a post on his Telegram channel. "They told me that, thank God, he is safe and sound," added the son of President Masoud Pezeshkian.

Global airlines are grappling with the effects of the war in the Middle East, as fuel prices soar and customers reassess their travel plans. The war has sent the price of oil and gas soaring, after Iran's Revolutionary Guards vowed to choke off traffic in the Strait of Hormuz, one of the world's key energy transit routes. The average global price of jet fuel has surged even faster, reaching $173.91 per barrel on Monday, according to the Platts benchmark index, double what it was on the levels of January 2.

France's president said a French aid worker with UNICEF was killed, after M23 rebels said 'combat drone' hit the city.

Germany releases part of oil reserves due to Middle East war, government source says Germany is to release part of its strategic oil reserve to counter high energy prices as a result of the war in the Middle East, a government source told AFP on Wednesday. Germany's Economy and Energy Minister Katherina Reiche was due to address the media in Berlin shortly.

One member of the Iranian women’s football team offered asylum by Australia has decided to return home to Iran.

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IRGC releases a list of offices run by top US companies with Israeli links whose technology has been used militarily.

Thai navy says cargo ship attacked near Strait of Hormuz  South China Morning Post

The Group of Seven advanced economies inched closer Wednesday to tapping strategic oil reserves to tackle the rise in crude oil prices due to the Middle East war as energy ministers said they stood ready to take "all necessary measures". The announcement came before G7 leaders were set to discuss the widespread economic fallout from the US-Israeli war with Iran, now into its second week, at a video conference meeting chaired by French President Emmanuel Macron.

A Thai bulk carrier travelling in the crucial Strait of Hormuz was attacked Wednesday, with 20 crew members rescued so far, the Thai navy said. Photos shared by the Royal Thai Navy showed heavy black smoke billowing from the hull and superstructure of the Thai-registered Mayuree Naree, with life rafts floating in the water. The vessel "was attacked while transiting the Strait of Hormuz" after departing Khalifa port in the United Arab Emirates, the navy said in a statement. "The specific details and cause of the attack are currently under investigation," it added.