The IRGC claims it has full control of the Strait of Hormuz, as the US president attempts to calm the markets
Several tankers off the coast of Iraq along with a major port in Oman are reportedly in flames as the US-Israeli military campaign against Iran continues to send shockwaves across global energy markets.
At least two oil tankers have been targeted in separate attacks near Iraq’s Umm Qasr port early Thursday, while Oman’s Port of Salalah continued to burn overnight. Saudi Arabia and Bahrain have also accused Tehran of targeting their oil facilities. Oman has reportedly evacuated vessels out of its main oil export terminal at Mina Al Fahal as a precaution.
Crude prices shot back to over $100 per barrel, despite Washington’s attempts to calm the markets. The US promised to release 172 million barrels of oil from its strategic reserves over the next 120 days, starting next week.
President Donald Trump has said the US has “virtually destroyed Iran,” but added that he does not want to end the campaign early and needs to “finish the job.” Iran says its military has overwhelmed enemy air defenses, making Israel and US military installations in the Middle East vulnerable to retaliatory strikes.
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The war on Iran could remake the world
- The IDF has intensified its bombings of Lebanon after Hezbollah coordinated its attacks with Iran’s Islamic Revolutionary Guard Corps (IRGC). The latest Israeli strikes reportedly hit a refugee camp at a beach in Beirut. The total death toll reached at least 634 over the past ten days.
- The Pentagon’s internal probe into the suspected US Tomahawk strike on a primary school that killed 168 children reportedly found that “human error” was to blame.
- The death toll in Iran stands at 1,348 civilians, with over 17,000 injured. The bombing of oil facilities near Tehran has produced a “black rain” of toxic oil and soot, with residents reporting breathing problems.
- The direct cost of the war against Iran has exceeded $11.3 billion in just the first six days of bombings, Pentagon officials told US lawmakers – who are now worried the conflict could escalate into a ground invasion. The US government has borrowed around $1 trillion in the five months since October, adding to the ballooning federal deficit.
Follow our live coverage below for continuous updates. You can also read our previous updates here.
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12 March 2026
07:25 GMT
A missile struck an Italian military base in Erbil, Iraq, overnight, Italy’s Defense Ministry has said.
“A missile hit our base in Erbil. There are no casualties or injuries among Italian personnel. They are all fine,” the ministry wrote on X.
Italian Foreign Minister Antonio Tajani said troops took shelter in a bunker and are “well and safe,” condemning the attack. Italy has roughly 300 troops in Erbil training Kurdish security forces.
"Un missile ha colpito la nostra base diErbil. Non ci sono vittime né feriti tra il personaleitaliano. Stanno tutti bene. Sono costantemente aggiornato dal Capo di Stato Maggiore della Difesa e dal Comandante dei COVI". Così il Ministro @GuidoCrosettopic.twitter.com/MzLpkSlu8D
— Ministero Difesa (@MinisteroDifesa) March 11, 2026
- 07:23 GMT
The strike on the school in Iran’s Minab that killed 168 children was likely caused by US forces using outdated targeting data about a nearby naval base, two sources briefed on the preliminary investigation have told CNN.
The February 28 strike occurred as US forces targeted a nearby Islamic Revolutionary Guard Corps (IRGC) facility, according to initial findings. US CENTCOM reportedly generated the strike coordinates using outdated information from the Defense Intelligence Agency, contributing to the error, the sources claimed.
Responding to a request for comment, a Defense Intelligence Agency spokesperson said the incident is still under investigation and referred further inquiries to the Pentagon.
- 07:03 GMT
Russia’s UN envoy, Vassily Nebenzia, has called the Security Council vote on a Russian-drafted resolution on the Middle East crisis “a theater of the absurd.”
“This vote is a litmus test and, pardon the expression, a gut check… It isn’t even double standards. It’s surrealism, a theater of the absurd, and simply shameful. We will constantly remind you of this when, in other situations, you pose as champions of international law,” he told the council.
The Security Council has adopted a resolution drafted by Bahrain condemning Iran’s retaliatory attacks on Gulf states hosting US military assets, without mentioning the US-Israeli strikes on Iran. A Moscow-backed resolution focused on humanitarian concerns and calling on all sides to halt military actions was rejected.
Russia’s permanent representative to the UN, Vassily Nebenzia. © Lev Radin/Pacific Press/LightRocket
- 06:54 GMT
Ali Youssef Farahat, mayor of the Lebanese town of Nimaria, has told RT’s Steve Sweeney about a devastating Israeli strike on March 8. Farahat said he heard gunfire followed by “a terrible explosion.”
“It seems less frightening now, but when you were there seeing everything happening during the strike, it was a horrifying sight,” he said, adding that two girls and a young man later died from their injuries, and that a family was trapped under the rubble for nearly two days.
“The fact is that this territory is completely civilian. Ordinary people live here,” Farahat said, accusing Israeli forces of falsely claiming they target only military sites.
© RT
- 06:48 GMT
Iran’s Tasnim news agency claims Hezbollah struck the headquarters of the Shayetet 13 at an Israeli base in Atlit, south of Haifa.
- 06:47 GMT
Media reports say a smoke plume has been seen at Bahrain International Airport.
- 06:32 GMT
All 32 members of the International Energy Agency (IEA) have agreed to a record release of 400 million barrels of oil from emergency reserves in response to supply disruptions caused by the Middle East crisis.
The US will provide the largest share, releasing 172 million barrels from its Strategic Petroleum Reserve, with drawdowns set to begin next week and continue over about 120 days. Japan will release 80 million barrels, South Korea 22.46 million, and Germany about 19.5 million, while other members also said they will be aligning with the IEA plan.
The 400-million-barrel release is the largest in the agency’s history – more than double the volume deployed during the 2022 energy crisis – but has so far failed to curb the price surge, with oil climbing above $100 per barrel overnight.
© Google screenshot
- 06:17 GMT
Western banks have begun closing Middle East branches after Iran threatened to target financial institutions in retaliation for a strike on a major bank in Tehran earlier this week.
America’s Citibank told AP it will close all branches except one in the UAE, citing the “evolving situation,” without further details. Reports citing an internal memo say staff in Dubai were told to evacuate offices and work from home until further notice.
Reuters earlier reported that the UK’s Standard Chartered has begun evacuating its Dubai offices. Separate reports citing customer notices say HSBC has closed branches in Qatar.
- 05:59 GMT
Separately, Dmitriev posted a photo on X that he said shows the Strait of Hormuz, with firefighters battling flames on a small boat and an oil storage facility burning in the background. “What does this picture of the Strait of Hormuz mean for oil markets?” he wrote.
Earlier, he warned that the escalating Middle East conflict could push oil prices above $200 per barrel.
What does this picture of the Strait of Hormuz mean for oil markets? Not AI. pic.twitter.com/wr5dyqJIyj
— Kirill Dmitriev (@kadmitriev) March 11, 2026
- 05:55 GMT
Russian presidential envoy Kirill Dmitriev has traveled to the US to discuss the global energy crisis triggered by Iran’s de facto blockade of the Strait of Hormuz following US-Israeli strikes.
“Many countries, primarily the US, are beginning to better understand the systemically important role of Russian oil and gas in ensuring global economic stability, as well as the ineffectiveness and destructive nature of sanctions against Russia,” he wrote on social media after the trip.
Dmitriev, who also heads the Russian Direct Investment Fund, said the sides discussed projects that could help restore Russia-US relations.
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11 March 2026
21:40 GMT
“Over the past 11 days, our military has virtually destroyed Iran,” President Donald Trump told a rally in Hebron, Kentucky. “We don’t wanna leave early, do we? We gotta finish the job!”
- 22:01 GMT
The IRGC has published footage showing ballistic missiles soaring into the sky as it launched a new wave of attacks – in coordination with Lebanon’s Hezbollah – against Israel and US military assets in the region.
- 22:40 GMT
An oil tanker has reportedly been hit by a drone in the Persian Gulf off the coast of Basra, Iraq, according to local channels. Videos shared online show massive bursts of fire engulfing an unknown vessel.
Massive oil tanker fire reported in the northern Persian Gulf tonight after an Iranian attack. pic.twitter.com/gEmg4s1Plc
— OSINTtechnical (@Osinttechnical) March 11, 2026
- 22:47 GMT
A second oil tanker is reportedly on fire in the northern Persian Gulf near the port of Umm Qasr in Iraq’s Basra province. Footage shared by witnesses shows the vessel engulfed in flames and leaking burning oil.
Additional footage of the two oil tankers struck by Iran in the northern Persian Gulf tonight, both reportedly loaded with Iraqi oil.The tankers have been completely engulfed in flame, and are leaking burning oil. pic.twitter.com/wX2sNYZXuB
— OSINTtechnical (@Osinttechnical) March 11, 2026
- 22:57 GMT
The IDF has announced yet another “wide-scale wave of strikes in Tehran,” just hours after the IRGC launched its own retaliatory strikes on Israel in coordination with Hezbollah.
- 23:08 GMT
Two foreign tankers carrying Iraqi fuel oil have come under “unidentified attacks” and been set on fire inside Iraqi territorial waters, a port official told Reuters.
- 23:09 GMT
The crew has been safely evacuated from at least one of the distressed vessels off Iraq, according to monitors and videos of the rescue operation.
- 23:23 GMT
The IRGC has claimed full control of the strategic Strait of Hormuz, and has vowed to continue its attacks on US military bases in the Middle East.
“The Strait of Hormuz is under constant surveillance by our forces. Our enemies have no right to pass through it, and our attacks will continue broadly using missiles and drones,” said IRGC spokesman Ebrahim Zolfaghari.
“A large number of American forces have been killed and wounded in attacks on US bases,” he added. The Pentagon has confirmed that only seven US service members have died and approximately 140 have been wounded during the conflict with Iran so far.
- 23:41 GMT
A suspected Iranian drone struck a high-rise building in Dubai, UAE, shortly after residents received emergency alerts on their cell phones urging them to seek shelter in the nearest secure building and stay away from windows.
“Civil Defence teams have brought a minor fire in the building under control. No injuries have been reported so far,” Dubai Media Office said in a post on X.
Authorities have fully brought the fire under control, and all residents are safe. No injuries have been reported. pic.twitter.com/0WTqLurwPX
— Dubai Media Office (@DXBMediaOffice) March 11, 2026
- 23:56 GMT
The IDF says it has launched a major aerial campaign against Hezbollah infrastructure across Lebanon, with ground troops guiding airstrikes that dismantled dozens of launchers ready to fire and killed numerous Hezbollah operatives.
Within a 30-minute window, the IDF allegedly struck 10 “terror structures” in the Dahieh area of Beirut, targeting intelligence headquarters, a Radwan unit command center, and other military facilities. The IDF says it is acting in response to Hezbollah’s decision to “deliberately attack Israel on behalf of the Iranian regime.”
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