A fully-loaded crude oil tanker off Dubai was set ablaze in an attack on Monday amid US President Donald Trump’s warnings against escalation in the ongoing West Asia war involving the United States, Iran and Israel, as per agency reports. Iran has targeted many merchant vessels since the US and Israel attacked the country on February 28. Crude oil prices briefly spiked after Kuwait's state news agency reported the attack on the tanker. As per reports, the attacked tanker can carry around 2 ​million barrels of oil worth more than $200 million at current prices. His Republican Party has ​vowed to lower energy prices and ramp up US oil and gas production.

Source: The Telegraph March 31, 2026 07:04 UTC