Iran warned that global oil prices could surge as attacks on ships disrupt energy routes in the Gulf. An Iranian military spokesperson said the world should “get ready for oil to be $200 a barrel.” Three vessels were reported hit in Gulf waters on Wednesday. Iran’s Revolutionary Guards said they fired on ships that ignored their orders. Since the war began, at least 14 merchant ships have been damaged in the region. The conflict started nearly two weeks ago after US and Israeli strikes on Iran. Oil prices have already risen sharply, briefly nearing $120 a barrel earlier this week. The International Energy Agency has suggested releasing strategic reserves to calm markets. (PC: NDTV)

India’s retail inflation rose to 3.21% in February from 2.75% in January, according to data released by the Ministry of Statistics and Programme Implementation. The increase was mainly driven by food prices. Food inflation stood at 3.75% in February. Prices changed across vegetables, cereals and pulses. Food items have a large weight in the Consumer Price Index. Urban inflation was recorded at 3.32%. Rural inflation stood at 3.07%. Despite the rise, inflation remains within the Reserve Bank of India’s target band of 2–6%. The central bank aims to keep inflation near 4%. Economists say global oil prices and supply disruptions could affect inflation trends in the coming months. (PC: India Today)

US intelligence agencies say Iran’s leadership is not at risk of collapse despite nearly two weeks of US and Israeli strikes. Officials said several intelligence reports show the government still controls the country. “A multitude of intelligence reports provide consistent analysis that the regime is not in danger and retains control of the Iranian public,” one source said. The strikes began on February 28 and targeted air defences, nuclear sites and senior leaders. Iran’s Supreme Leader Ayatollah Ali Khamenei was killed on the first day. Still, officials say security forces and interim leaders remain in control. Sources added the situation on the ground is fluid and could change. (PC: NDTV)

Explosions were heard in downtown Dubai on Thursday as Iran continued attacks across the Gulf region. An AFP correspondent reported hearing one very loud blast. Small clouds of smoke were seen rising above a residential area. Earlier, a container ship near Dubai was hit by a projectile in the Persian Gulf. The United Kingdom Maritime Trade Operations centre said the strike caused a small fire but the crew were safe. In Bahrain, an Iranian attack triggered a major fire on Muharraq Island near the international airport. Kuwait said an Iranian drone hit a residential building and wounded two people. Saudi Arabia also said it shot down drones targeting Riyadh and an oil facility in the kingdom’s east. (PC: NDTV)

Iran has allowed India-flagged oil tankers to pass through the Strait of Hormuz after talks between External Affairs Minister S Jaishankar and Iran’s Foreign Minister Abbas Araghchi, sources said. At least two Indian tankers — Pushpak and Parimal — are now sailing through the key waterway. Ships linked to the US, Europe and Israel still face restrictions. Earlier, a Liberia-flagged tanker carrying Saudi crude and captained by an Indian also crossed the strait and reached Mumbai safely. Iran had warned ships to seek its approval before entering the route. The Strait of Hormuz carries a large share of global oil shipments and has seen traffic drop during the war. (PC: NDTV)

Oil prices rose again on Thursday after explosions were reported on more foreign ships in the Gulf amid the ongoing Iran conflict.   Brent crude briefly reached about $100 a barrel in Asian trading, rising nearly 9%. US-traded crude also climbed to around $95. Markets stayed tense despite major countries agreeing to release large amounts of oil from emergency reserves.   Overnight, two more ships were hit near Iraq’s Umm Qasr port close to Basra. Officials said one person was killed and 38 others were injured.   Iran has warned that “not a litre of oil” will pass through the Strait of Hormuz if attacks on it continue. The route carries about 20% of global oil supply. (PC: BBC)

Iran has outlined three key conditions for ending the ongoing war with the United States and Israel. Iranian President Masoud Pezeshkian said Tehran would consider ending the conflict if its “legitimate rights” are recognised, reparations are paid for war damage, and firm international guarantees are provided to prevent future attacks. The statement came as the war, which began on February 28, continues to escalate with strikes on infrastructure, attacks on shipping near the Strait of Hormuz, and rising civilian casualties. Iran claims thousands of civilian sites have been bombed and more than 1,300 people killed. Meanwhile, Donald Trump has indicated the conflict could end whenever Washington decides, highlighting growing tensions and uncertainty around a diplomatic resolution.

Two oil tankers carrying crude from Iraq caught fire after being targeted in an attack linked to Iran near key shipping routes in the Middle East. The vessels Zefyros and Safesea Vishnu were anchored close to each other when the strike caused a massive explosion and blaze, killing one person. Videos circulating online show flames spreading across the water, suggesting oil leakage from the damaged tankers. The incident comes amid escalating conflict involving United States, Israel and Iran, with multiple ships recently targeted in the strategic Strait of Hormuz shipping corridor. 

The Federal Bureau of Investigation has warned police agencies in California about a potential drone attack allegedly linked to Iran. According to intelligence alerts, Iran may attempt a “surprise attack” using unmanned aerial vehicles launched from a vessel off the coast of the United States. The warning comes after joint military strikes by the US and Israel against Iran earlier in 2026. Officials say there is no confirmed timeline or target yet, but security agencies are monitoring the threat closely as concerns grow over the increasing use of drones in modern warfare. (PC: AFP)

A US Tomahawk missile strike that hit an elementary school in Iran’s Minab happened due to a targeting error, according to a report citing an ongoing military investigation. The February 28 strike destroyed the Shajarah Tayyebeh school building and reportedly killed more than 175 people, most of them children. US officials said the target coordinates were created using outdated data by the US Central Command. The information had been provided by the Defence Intelligence Agency. Investigators are examining why the data was not double-checked. Officials said the mistake was likely human. The school stands near a base of Iran’s Revolutionary Guards Navy, which had been the intended military target. (PC: NDTV)