The Iranian strikes on energy infrastructure further hampered the outlook for global energy supplies as the war enters its third week, with a near-complete halt of shipping through the strait starting to impact consumers, especially in Asia. Photograph/Altaf Qadri/APOil rebounded after the first drop in almost a week, as Iran pressed on with attacks on energy infrastructure around the Middle East. European shares were ​little changed on Tuesday as investors assessed the economic damage from a prolonged Middle East conflict. The war in ⁠the Middle East ⁠showed ​no signs of slowing down with Iran launching fresh attacks on the United Arab Emirates. In the Middle East, the UAE and Kuwait have both reduced oil output further.

Source: The Irish Times March 17, 2026 11:47 UTC