← March 30, 2026 briefingWorld

Iran war escalates as oil hits $116 a barrel

The US-Iran conflict has expanded dramatically, with Iran striking a Kuwait power and desalination plant, killing an Indian worker, and Israel deepening its invasion of Lebanon. Oil has surged past $116 a barrel — the world's biggest energy crisis in decades — as the Strait of Hormuz closure rattles global markets. Trump told the Financial Times he is considering seizing Iran's strategic Kharg Island, even as negotiations reportedly continue.

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Sources
Oil rises above $115 and Asia stocks slide as Iran war escalates

Oil rises above $115 and Asia stocks slide as Iran war escalates

BBC · Mar 30

Donald Trump says US could ‘take the oil in Iran’

Donald Trump says US could ‘take the oil in Iran’

Financial Times · Mar 29

Oil price rises past $116 as Iran conflict worsens

Oil price rises past $116 as Iran conflict worsens

Financial Times · Mar 30

Mar 30

Netanyahu orders deeper Israeli invasion into Lebanon

Al Jazeera · 1:09 AM

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