Middle East crisis live: Iran steps up campaign to disrupt energy markets as oil price hits $100 a barrel

The Guardian - World News Economic ImpactNews ReportEN 1 min read 100% complete by Adam FultonMarch 12, 2026 at 07:38 AM

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'We are at the edge of a battlefield': BBC reports near Strait of Hormuz

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AI Summary

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Iran has escalated attacks on energy infrastructure and transport in the Middle East, setting ablaze two tankers in Iraqi waters. This action is part of a broader campaign to disrupt energy markets, contributing to oil prices reaching $100 a barrel. Conflicting reports have emerged regarding Iran's stance on allowing India-flagged tankers to pass through the Strait of Hormuz, a critical route for global oil trade. While one Indian source indicated passage would be permitted, Reuters reported an Iranian source denying this. The attacks and uncertainty surrounding tanker passage are impacting global oil markets.

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Key Claims (5)

AI-Extracted

Reuters is reporting that an Iranian source is denying passage.

factual — Reuters100% confidence

Reuters quoted an Indian source as saying Iran would allow such tankers to pass through the strait.

quote — Reuters, Indian source90% confidence

An Iranian source is denying the country will allow India-flagged tankers to pass through the vital strait of Hormuz.

quote — Iranian source90% confidence

Iran has set ablaze two tankers in Iraqi waters.

factual80% confidence

Iran is escalating attacks on infrastructure and transport across the Gulf.

factual70% confidence

Claims are automatically extracted and should be independently verified. Attribution indicates the stated source of the claim.

Key Entities & Roles

Key Player Opposition Context

Gulf 50% Reuters 60% India ×260% Iraq 70% Middle East ×280% Strait of Hormuz ×280% Iran ×490%

Keywords

middle east crisis 100% iran 90% energy markets 80% oil price 70% attacks on infrastructure 70% oil tankers 60% strait of hormuz 60% global oil trade 50% iraqi waters 40%