Strait of Hormuz threat impacts global oil prices
By Natalie Yarbor
Published on March 10, 2026.
The escalating conflict with Iran has resulted in reduced traffic in the Strait of Hormuz, causing oil prices to rise across the globe. President Donald Trump suggested that Iran and other countries may have been behind a deadly strike on an elementary school in southern Iran. The Israeli military is accused of using white phosphorus munitions in a residential area of southern Lebanon, which Human Rights Watch warns may violate international humanitarian law. The UAE has been Iran's primary target for retaliation, with over 1,700 missiles and drones fired at the country in the past ten days. A US soldier died following a recent attack in Saudi Arabia, bringing the number of American troops killed in the Iran war to seven.
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