Oil jumps above $100 again with tankers on fire and new strikes across the Gulf
By Jessie Yeung
Published on March 12, 2026.
Iran has increased its attacks on oil facilities and tankers in the Persian Gulf, with multiple Gulf states intercepting drones and missiles. Israel also launched a large-scale "wave of strikes" across Lebanon, removing Hezbollah launchers and infrastructure in the southern Beirut suburb of Dahieh. Saudi Arabia's Ministry of Defense said it had intercepted and destroyed over 20 drones in eastern Saudi Arabia. The United Arab Emirates also said its air defenses were responding to missile and drone threats from Iran.
Read Original Article