1237 Iran targets commercial ships across Persian Gulf, and Dubai airport and oil facilities in attacks

11 Mar 2026Iran is attacking commercial ships in the Persian Gulf, including those near Dubai, and has warned of a global economic disaster with oil prices potentially reaching $200 a barrel. The ongoing conflict between Iran and Israel, with Israel targeting Iran’s missile infrastructure, is causing widespread damage and could lead to a regime change in Israel. The situation is escalating, with potential consequences for global trade and the economy.Authorities are searching for three missing crew members after an oil tanker was attacked and sunk in the Persian Gulf. Iran has claimed responsibility for the attack, escalating tensions in the region and raising concerns about potential cyberattacks and disruptions to global supply chains, particularly for semiconductors and fertiliser. The ongoing partial government shutdown in the US is exacerbating the situation, causing delays at airports and potentially compromising security.The world is facing a fuel crisis, with China, Japan, and Europe running out of fuel. This is leading to long lines at gas stations and potential price increases. Additionally, there are reports of drone attacks and a potential EMP attack on the US power grid, which could cause widespread chaos.