US targets Iran mine-laying as war causes oil market havocSmoke billows from an Israeli strike in the southern suburbs of Beirut on March 10, 2026TEHRAN - The United States said Tuesday it was striking Iranian ships capable of mining the crucial Strait of Hormuz and threatened escalation if Tehran presses ahead, as the Middle East war wreaks havoc on global oil markets. Trump faces mounting political risks over the surging cost of oil, months before US elections. "We believe the aggressor must be punished and taught a lesson that will deter them from attacking Iran again," he added. "There would be catastrophic consequences for the world's oil markets the longer the disruption goes on, and the more drastic the consequences for the global economy," Saudi oil giant Aramco's president and CEO Amin H. Nasser told journalists. - War effects spreading -Iraq and Lebanon, both home to Shia fighters tied to Iran, have become proxy grounds of the war, with devastating consequences.

Source: Bangkok Post March 11, 2026 01:25 UTC