Aluminium Bahrain, the world's largest smelter of aluminum, has reported that its facility was targeted by an Iranian attack as the U.S.-Israel-led war extended into a second month. The company, known as Alba, had cut its production capacity by 19% of its 1.6 million tons of annual output due to ongoing supply and transit disruptions affecting the Strait of Hormuz. This has raised concerns about a global shortage of aluminum. Iran has been retaliating against U.,S. and Israeli attacks since February 28 by firing missiles and drones at its regional neighbors. The United Arab Emirates is dealing with the latest salvo of incoming missiles from Iranian-backed Houthi fighters. Oil prices closed at their highest level in over three years as President Donald Trump's pivot toward negotiations with Iran failed to ease market fears about the disruption.