A massive crude oil tanker was struck and set ablaze off the coast of Dubai early Tuesday in an attack that rattled global energy markets and pushed an already volatile conflict deeper into dangerous territory. The Kuwait-flagged Al-Salmi, capable of carrying roughly 2 million barrels of oil valued at more than $200 million, was hit in what authorities described as a drone strike that caused a fire and significant hull damage. Dubai authorities later confirmed the fire had been brought under control, with no oil spill reported and no crew members injured.
Kuwait Petroleum Corp, which owns the vessel, confirmed the attack occurred in the early hours of Tuesday morning. The strike marks the latest in a string of assaults on commercial shipping in the Gulf and Strait of Hormuz since the United States and Israel launched military operations against Iran on Feb. 28, opening a conflict that has since spiraled across the region.
Oil prices surge as the Gulf becomes a flashpoint
The attack sent crude oil prices briefly spiking again, adding fresh pressure to a global energy market already stretched to its limits. Benchmark Brent crude has surged more than 56 percent this month alone, its largest single-month rise on record, climbing above $113 a barrel. In the United States, the national average retail price of gasoline crossed $4 a gallon for the first time in more than three years on Monday, according to price-tracking service GasBuddy.
The rising costs have begun to bite into American household budgets and are emerging as a serious political liability for President Trump and his Republican Party ahead of November midterm elections. Trump had campaigned on promises to lower energy prices and expand domestic oil and gas production, making the current trajectory an uncomfortable one for the White House.
Conflict spreads beyond Iran’s borders
The month-long conflict has shown no signs of easing. Iran-aligned Houthi forces have fired missiles and drones at Israel, and Turkey reported that a ballistic missile launched from Iran entered Turkish airspace before being intercepted by NATO air and missile defenses. Israel has continued carrying out strikes on what it describes as military infrastructure in Tehran and on sites linked to Iranian-backed Hezbollah in Beirut.
Explosions were heard in parts of eastern and western Tehran on Tuesday, shortly after Israel issued warnings of imminent strikes. Residents in the Pirouzi district reported power outages following the blasts. A strike on a Shiite congregation hall in the northwestern Iranian city of Zanjan killed three people and wounded 12. The Israeli military also reported four soldiers killed in southern Lebanon, the same area where three United Nations peacekeepers from Indonesia lost their lives in two separate incidents.
Troops mobilize as a second deadline looms
Thousands of soldiers from the U.S. Army’s 82nd Airborne Division have begun arriving in the Middle East, expanding Washington’s military options and raising the prospect of a ground operation in Iran. The deployment comes even as the Trump administration continues pursuing a diplomatic resolution with Tehran.
The White House has set a revised deadline of April 6 for Iran to open the Strait of Hormuz, the narrow passage through which roughly a fifth of the world’s oil and liquefied natural gas normally flows. Talks are described as ongoing, with officials noting a gap between what Iran says publicly and what it communicates privately to American negotiators.
Trump’s ultimatum and a potential off-ramp
Trump issued a stark warning, threatening to target Iranian power plants, oil wells and Kharg Island if a deal is not reached and the strait remains closed. Yet a report suggested he may be open to ending military operations even if the strait stays largely shut, at least for now. That possibility briefly lifted stock markets and eased some pressure on oil prices.
The White House also confirmed Trump is exploring whether Arab nations might help fund the war effort, even as an administration request for an additional $200 billion in war funding faces significant resistance in Congress.
