Iran has warned it is prepared for a prolonged war that could rattle the global economy, as tensions with the United States and Israel continue to escalate across the Middle East.
The warning follows reports that Iranian forces opened fire on two commercial vessels and issued threats toward ships belonging to the United States and its allies in the strategic Strait of Hormuz, one of the world’s most critical corridors for global oil shipments. Iranian officials said Washington and Tel Aviv should brace for a drawn-out conflict that could have far-reaching economic consequences.
Global energy markets have already begun to react. Oil prices have surged since February 28, when U.S. and Israeli forces reportedly launched coordinated strikes inside Iran that killed the country’s Supreme Leader and ignited a broader regional confrontation. In response to the spike in energy costs, the International Energy Agency announced plans to release about 400 million barrels of crude from emergency reserves an unprecedented move aimed at stabilizing global supply.
Now entering its twelfth day, the conflict shows signs of widening. Iran’s powerful Islamic Revolutionary Guard Corps warned it could target financial institutions and economic infrastructure it believes are linked to U.S. and Israeli interests. Heightened security concerns have already prompted several international companies to begin evacuating personnel from Dubai.
Tensions are also spilling across the wider Gulf region. Authorities in Dubai reported that drones fell near the city’s main airport, leaving four people injured. Meanwhile, fuel storage facilities at Port of Salalah in Oman were struck, forcing a partial suspension of port operations.
Israel has continued its military campaign, launching additional airstrikes inside Iran and against positions held by Hezbollah in Beirut. One strike reportedly hit a residential building in central Beirut, causing extensive damage and raising fears of further escalation.
Iranian officials say the conflict has already taken a heavy toll. More than 1,200 people have reportedly been killed and over 10,000 civilians injured since the hostilities began.
With the strategic Strait of Hormuz under threat and regional instability spreading, analysts warn that a prolonged confrontation could disrupt energy supplies, strain global markets, and deepen geopolitical divisions far beyond the Middle East.
ELIJAH ADEYEMI
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