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Global energy prices soar as Iran crisis disrupts shipping, oil and gas production

March 3, 2026
Finance

LONDON, March 3 (Reuters) – Global oil and gas prices jumped on Tuesday as the U.S.-Israeli war on Iran halted energy exports from the Middle East, ​with Tehran attacking ships and energy facilities, closing navigation in the Gulf and forcing production stoppages from Qatar to Iraq. The benchmark Brent crude oil contract gained nearly 8% ‌on Tuesday to above $83 per barrel, the highest since July 2024, taking gains since Friday to more than 15%. European gas prices soared as much as 40% before paring gains, adding to a 40% surge on Monday. Sugar, fertiliser and soy prices have all

Israeli military says Iranian missiles hit central Israel

March 3, 2026
Politics

JERUSALEM, March 3 (Reuters) – Israel’s ​military on Tuesday ‌reported strikes in the Tel Aviv area ​of Israel from ​Iranian missiles. “Search and rescue ⁠forces, together with ​numerous emergency teams, ​are currently operating at the impact sites in central ​Israel,” the ​military said. “The circumstances of the ‌impact ⁠are under review.” Israel’s ambulance service said it was treating three ​people ​at ⁠the sites who were lightly ​injured. Israeli police said ​there ⁠were several impact areas involving munition ⁠fragments ​within the ​Tel Aviv district.

France says it will work with China on de-esclatating Iran war

March 3, 2026
Politics

PARIS, March 3 (Reuters) – French Foreign Minister Jean-Noel Barrot held a call on Monday with his ​Chinese counterpart Wang Yi to discuss ‌the Iran war and both agreed to work on de-escalation, Barrot’s office said in a statement. Both ministers ​committed to seeking a political solution ​that would guarantee collective security and take ⁠into account the aspirations of the ​Iranian people, the statement said. Barrot “reiterated the Iranian ​regime’s responsibility for the ongoing escalation, after it unjustifiably attacked several countries in the region,” the statement ​said. He also criticised the Iranian regime for ​refusing to respect the resolutions from

Israeli soldiers are ‘operating in southern Lebanon,’ military says

March 3, 2026
Politics

DUBAI, United Arab Emirates, March 3, 2026 (AP) — The Israeli military said soldiers are “operating in southern Lebanon” as it continues strikes against Hezbollah. In a statement, it said the troops are positioned at several points near the border in what it described as a “forward defense posture” as it battles Hezbollah militants. It said the deployment is part of a broader effort to increase security for residents in northern Israel near the border with Lebanon. It has also beefed up troops and air defenses in the area. The army said there are no plans to evacuate Israeli residents

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