Iranian attacks on Israel escalated suddenly, resulting in widespread strikes. Iranian missiles targeted a military base in Tel Aviv, causing dozens of military casualties.

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How is the war affecting the economy and energy prices?

Instability in the Middle East has begun to impact the global economy.

Iran has been accused of attacking ships in the Gulf, forcing the effective closure of the Strait of Hormuz – a key artery accounting for about 20% of global oil supply.

Trump has postponed his initial threat to strike Iranian power plants and energy infrastructure unless Iran opens the strait, citing what he described as “good” and “productive” talks. Iran, however, has denied any such talks have taken place.

Attacks have been reported on major oil and gas hubs throughout the war. The strikes have prompted some of the world’s largest producers of oil and gas to suspend production – leading to a sharp rise in energy prices.

Is Trump’s pause on attacking Iranian energy for diplomacy or an escalation?

Strait of Hormuz: What happens if Iran shuts global oil corridor?

What on earth is going on with the oil price?

Is it safe to travel to the region and how long could the war last?

On 31 March, Trump said that US military action in Iran could end as soon as “two or three weeks”, with or without a deal brokered between the two sides.

He previously laid out an expansive mission for the war, with the goal to ensure that Iran could not develop weaponry to target the US, Israel or any American allies “for a very long time”.

Trump said that the US has achieved its goals in the country, primarily that of curtailing Iran’s ability to obtain a nuclear weapon. The US would therefore be leaving Iran “very soon”, he said.

Iran’s president, Masoud Pezeshkian, said on 31 March that Tehran had the “necessary will” to end the war but his country would need guarantees  “required to prevent repetition of the aggression”.

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