The price increase also followed strikes on an oil depot in Iran, and after attacks on oil infrastructure in Saudi Arabia and Bahrain. In a bid to calm prices, the president said he would waive some sanctions on oil, after a call with Russian President Vladimir Putin. Iran has targeted vessels travelling through the Strait of Hormuz, through which nearly 20 percent of the world’s crude oil usually transits from the Gulf to world markets, especially in Asia and Europe. The group said its fighters were killed in “American aggression” against their position in the Debs district of Kirkuk province. The war has spiralled far beyond Iran’s borders, dragging in not only its Gulf neighbours but also Lebanon, where Israel carried out fresh strikes on Tuesday.

Source: Bangkok Post March 10, 2026 12:12 UTC