Last Updated: March 3, 2026

Tensions across the Middle East escalated sharply after Iran warned it would attack vessels attempting to pass through the Strait of Hormuz, while drones struck the US Embassy compound in Riyadh.

Strait of Hormuz “Closed”

Iran’s Revolutionary Guard Corps announced that the strategic waterway — through which roughly a fifth of global oil supply passes — is now closed. Tehran warned that ships attempting to cross could be targeted, triggering volatility in global energy markets.

Drones Hit US Embassy in Riyadh

Saudi authorities confirmed that two drones hit the US Embassy in Riyadh, causing a limited fire and minor structural damage. Officials reported no major casualties.

Strikes Continue Across Region

Israeli and US forces continued strikes on Tehran and parts of Lebanon, while Iran launched additional attacks toward Israeli targets. Casualty figures across Iran and Lebanon have reportedly surpassed 600 as fighting intensifies.

US Signals Extended Campaign

US President Donald Trump said military operations could last four to five weeks, as Washington aims to dismantle Tehran’s missile and nuclear capabilities.

Energy infrastructure across the Gulf has also been impacted, with Qatar suspending liquefied natural gas production after facilities were hit. Oil and gas prices moved sharply higher as markets assessed the risk of prolonged disruption.

The situation remains fluid, with regional tensions rising and global markets reacting to each new development.