Middle East War Escalates, Oil Prices Soar

0:00On March 16th, the war in the Middle East keeps escalating across several fronts. The United States and Israel hit military targets in Iran's capital Tehran, while Israel ramped up strikes on Iran back groups in Lebanon. Iran fired back with drones and missiles, including one that sparked a fire near Dubai's main airport and shut it down for a few hours. Shipping through the Shred of Hormuz has nearly ground to a halt due to Iranian threats and attacks on vessels. It's a handful of ships, like two Indian ones in one Pakistani, made it through over the weekend. This key route carries about a fifth of the world's oil, and the slowdown has driven up prices worldwide. The human toll is heavy, with more than 1,300 dead in Iran, at least 850 in Lebanon from Israeli strikes, 12, in Israel, and 13 US military personnel killed. Over 800,000 people have fled their homes in Lebanon alone, as evacuation orders spread. Several leaders are scrambling to respond.

1:01Former President Trump called for allies like China and others to help secure the strait, warning he'll remember who steps up. The US military vows to neutralize Iran's threats there, while Europe debates extending ship protections but faces pushback and Britain eyes drone. Support without jumping into the fight. Israel reports knocking out 85 percent of Iran's air defenses and plans more strikes as needed, even as Tehran keeps launching attacks. As oil prices soaring in economies hurting, pressure mounts for a way forward amid the chaos.