IRAN WAR BRIEFING

Economic Impact

Brent Crude- $100.68 per barrel 

LNG-  131.50 GBp/thm

The International Energy Agency has said that the world is facing the largest oil-supply disruption in history. Gulf states have cut total ​oil production by at least 10 ‌million ⁠bpd - a volume equal to almost 10% of world demand.

Goldman Sachs has predicted 21 days of disruption. 

The FTSE100 is down 0.42%. 

Following attacks on ships in Hormuz, the price of oil has again risen to over $100 per barrel.

Iran

At least six oil tankers have been attacked in Hormuz.

Iran's military says Tehran's policy of reciprocal hits has ended, and will carry out continuous strikes from now one

Reports new supreme leader Mojataba Khamenei was lightly wounded in an attack.

Iran strikes a Thai ship in the Strait of Hormuz. 

Iran is reportedly laying mines in Hormuz. 

Iran warned the United States not to show aggression against their islands such as Kharg island.

United States

US forces struck 16 Iranian mine-laying vessels near the Strait of Hormuz.

The Wall Street Journal is reporting that the US is to release the largest ever amount of strategic oil reserves following government approval. 

It is estimated that the cost of the war so far for the United States has reached over $11bn.

United Kingdom

HMS Dragon has left Portsmouth. Foreign Secretary Yvetter Cooper spoke to Israeli Foreign Minister Gideon Sarr about Iran, Hezbollah in Lebanon, and Cyprus. 

Foreign Minister Yvette Cooper spoke with US Secretary of State Marco Rubio. “The Secretary and Foreign Secretary underscored the importance of continued close coordination on the security of the broader Middle East.”  

Cooper also spoke to the Foreign Ministers of the UAE, Qatar, and Bahrain.

Israel

Hezbollah claimed 29 attacks on northern Israel/southern Lebanon positions.

IDF killed Hezbollah commander Abu Dhar Mohammadi, the operations commander of the IRGC’s missile unit

United Arab Emirates 

Container ship struck near Ras Al-Khaimah

Bahrain

The UN Security Council has adopted a resolution, led by Bahrain, condemning Iranian drone and missile attacks on Gulf states. 13 voted in favour, 0 against, and both Russia and China abstained.

Saudi Arabia

Saudi Arabia is negotiating to buy Ukrainian drone interceptors.

Syria

For the first time in 15 years, Syria’s account with the Federal Reserve Bank of New York is open and active.

Qatar

Qatar’s Interior Ministry says the security threat level is high and urges everyone to remain at home or in safe locations.

China

A spokesman for China’S Ministry of Foreign Affairs condemned Iran’s attacks on Gulf states.

Turkey

NATO downed another Iranian ballistic missile entering airspace

Iraq

An Italian military base in Iraqi Kurdistan was hit by an airstrike, with no injuries.

Oman

Iranian drones struck Oman’s largest oil storage facilities at the Port of Salalah on the 11th March. Iran would go on to deny that the strikes were by them.

Kuwait

Iran's Islamic Revolutionary Guard Corps (IRGC) said on the 11th March that at least two missiles targeted a United States military base in Kuwait

On 12th March reports emerged of missiles striking Kuwait international Airport

Kazakhstan

Kazakhstan has condemned aerial attacks “from Iranian territory” on the United Arab Emirates, in remarks that emphasized de-escalation and diplomacy while.