Ships attacked in Strait of Hormuz, Iran's oil ‘$200 a barrel’ threat, Mossad base targeted: 10 points on Iran-US war

Iran has said the world should be ready for oil at $200 a barrel as oil reserves have been targeted in the fighting between US-Israel and Iran.

The military confrontation between US-Israel and Iran continues to rage on for almost two weeks now and has triggered energy crisis across the globe with Iran launching attacks on merchant ships on Wednesday. Track updates on Iran-US war

Thai cargo ship, Mayuree Naree, that was struck and set ablaze in the Strait of Hormuz Wednesday, March 11, 2026. (AP)

Iran and allies continued to target ships in the Strait of Hormuz on Wednesday, the key waterway carrying a fifth of the world's oil, and several vessels have come under the attack, including a Thailand-flagged cargo ship bound for India. Iran has vowed that not one litre of oil would be exported from the Gulf amid its ongoing war with the United States and Israel that began on February 28. Follow updates on West Asia conflict

Here are the latest updates on Iran-US war:

-Brent crude oil price tops $100 a barrel: Amid the US-Iran war that has threatened the global energy supplies, the price of a barrel of Brent crude oil, the international standard, topped $100 a barrel early Thursday, according to reports.

-Iran's ‘$200 a barrel of oil’ warning: Iran has said the world should be ready for oil at $200 a barrel as the fighting between US-Israel and Iran has led to the two sides attacking each other's oil reserves. The strategic Strait of Hormuz has also turned out to be a flashpoint with Iran taking control of the passage and attacking any ship passing through it. At least 16 ships have been targeted so far.

-Massive fire at Oman port: Oil storage facilities in Oman’s ⁠Salalah port are up in flames after being hit in drone attack, Al Jazeera reported. The blaze is the latest as US and Iran continue to target each other's oil storage facilities across the Gulf countries amid the ongoing US-Israeli attacks.

A plume of smoke raises from oil storage facilities at the Port of Salalah in Raysut, Oman. (Social Media via REUTERS)

-Hezbollah targets Israel military base: Iran-backed Hezbollah on Thursday said that it carried out missile attack on an Israeli military intelligence base in the suburbs of Tel Aviv early on Thursday. Hezbollah fighters "targeted the Glilot base (the headquarters of the 8200 Military Intelligence Unit)... in the Tel Aviv suburbs with a barrage of advance missiles," the group said in a statement, AFP reported.

Smoke rises after Israeli strikes following an escalation between Hezbollah and Israel amid the U.S.-Israeli conflict with Iran, in Beirut's southern suburbs, Lebanon, March 12, 2026. REUTERS/Khalil Ashawi (REUTERS)

-Ships attacked in Iraq waters: At least one person was killed as two oil tankers were attacked off Iraq's coast, government officials were quoted as saying. Several are still missing, while 38 crew members have been rescued, AFP reported, citing port authorities.

-Trump reiterates upper hand against Iran: US President Donald Trump continues to maintain that the US has an upper hand against Iran in the ongoing war and that the strikes had already practically defeated Iran. "They are pretty much at the end of the line," Trump was quoted as saying. He also delivered a speech to supporters in which he declared: "We've won...We won -- in the first hour it was over."

-Nearly 2,000 killed: Around 2,000 people have already been killed in the US-Iran war that began on February 28 after US-Israel launched joint strikes against Iran, killing Supreme Leader Ayatollah Ali Khamenei and many of his family members. The US has been accused of launching attacks on schools in Iran and killing hundreds of school children. The United Nations Children's Fund (UNICEF) said more than 1,100 children had been killed or injured.

TOPSHOT - Rocket trails are seen in the sky above the Israeli center coastal city of Netanya amid a fresh barrage of Iranian missile attacks on March 11, 2026. (AFP)

-US to release 172 million barrels of oil: As the conflict continues to fuel the surge in energy prices, the Trump administration is mulling to release 172 million barrels from the US emergency oil reserve. The release will take about 120 days to fully deliver the oil from the Energy Department’s Strategic Petroleum Reserve, Bloomberg reported, citing energy secretary Chris Wright. “This is to tide the world over while these flows are restricted by Iran, but ultimately the United States military will prevail,” Wright said on Fox News. “Hopefully in the next few weeks we will start to see ship traffic returning to the Strait of Hormuz.”

-Trump's big claims on Iran: Trump has made some big claims with regards to the US's dominance over Iran in the ongoing war. "Our military has virtually destroyed Iran; their air force and radar are gone; missiles down by 90 per cent, drones down by 85 per cent, factories being blown up," Trump said.

-Iran continues to launch attacks on Gul countries: Iran's offensive against the Gulf countries continues and four people were injured in a drone attack near the Dubai airport, one of the world's top aviation hubs, on Wednesday. Firefighters extinguished a blaze early Thursday at a luxury apartment tower in Dubai Creek Harbor after an Iranian drone strike.

-UN asks Iran to stop attacks on Gulf nations: The UN Security Council voted Wednesday to approve a resolution demanding a halt to Iran's "egregious attacks" on its Gulf neighbours.

-2 killed in Iraq: At least two fighters were killed in airstrikes in northern Iraq on Thursday, AFP reported quoting sources. The killings reportedly took place after an air strike targeted a base in the city of Kirkuk, occupied by the Hashed al-Shaabi, a former paramilitary coalition, now integrated into Iraq's regular army.

With inputs from agencies