LONDON: World oil prices surged more than five percent on Wednesday as the Middle East war disrupted crude exports.&nbsp;The international benchmark, Brent North Sea crude, jumped 5.1 percent to $92.23 per barrel.&nbsp;The main US contract, West Texas Intermediate, soared 5.9 percent to $88.38 per barrel.

Taxation

World oil prices surged over 5% due to Middle East conflict disrupting exports. Brent crude rose 5.1% to $92.23 per barrel, while US West Texas Intermediate jumped 5.9% to $88.38 per barrel.

World oil prices rally over 5% on Middle East war

Web Desk

ISLAMABAD: A Thai-flagged bulk carrier was attacked while passing through the strategically important Strait of Hormuz on Wednesday, while two other cargo ships were also struck by unidentified projectiles amid increasing tensions between the US, Israel, and Iran.&nbsp;&quot;The Thai-flagged bulk carrier &#39;Mayuree Naree&#39;... was attacked while transiting the Strait of Hormuz,&quot; after departing from a port in the United Arab Emirates, the navy said in a statement.&nbsp;While 20 crew members were rescued by the Omani navy, efforts were underway to rescue the remaining three crew members, the navy said, adding that the cause of the attack was under investigation.&nbsp;In a separate strike, an unknown projectile hit a cargo ship in the Strait of Hormuz abutting Iran, causing a fire and forcing the crew to evacuate, a maritime security agency said on Wednesday.&nbsp;&quot;It has been reported that a cargo vessel has been hit by an unknown projectile in the Straits of Hormuz, which has resulted in a fire onboard,&quot; the United Kingdom Maritime Trade Operations said.&nbsp;In another strike, a second container ship was hit off the coast of the UAE by an unidentified projectile on Wednesday, a British maritime security agency said.&nbsp;&quot;The master of a bulk carrier has reported their vessel being hit by an unknown projectile. There is no report of any environmental impact. The crew is reported safe and well,&quot; said the United Kingdom Maritime Trade Operations.&nbsp;Last week, Iran&rsquo;s Supreme Leader Ayatollah Ali Khamenei was killed in joint US‑Israeli airstrikes, plunging the Middle East into a major conflict. In response, Iran has launched missile and drone strikes targeting US and Israeli positions across the region.&nbsp;The conflict has heightened regional instability, disrupted global trade routes such as the Strait of Hormuz, and threatens broader economic and security consequences worldwide.&nbsp;

Middle East

A Thai bulk carrier was attacked in the Strait of Hormuz, while two cargo ships were hit by projectiles, as US-Israel strikes on Iran escalate regional tensions, threatening trade, security, and global economic stability.

Thai bulk carrier, two cargo ships hit amid rising 'Strait of Hormuz' tensions

ISLAMABAD: Pakistan&#39;s Prime Minister Shehbaz Sharif on Wednesday congratulated Rabi Lamichhane and Balendra Shah of the Rastriya Swatantra Party following their victory in the 2026 elections in Nepal.&nbsp;In a message shared on the social media platform X, the premier praised the electoral outcome and described it as a strong sign of public confidence in the country&rsquo;s emerging leadership.&nbsp;&ldquo;My heartiest congratulations to Rabi Lamichhane and Balendra Shah of the Rastriya Swatantra Party on their remarkable victory in the 2026 elections in Nepal,&rdquo; Sharif said.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 369px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2031659899013488916&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=d68f16a36bb6770eb78bf5163230641a750a12b7&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px"></iframe></div></div>Sharif also highlighted the importance of ties between the two countries, saying Pakistan is eager to work with Nepal&rsquo;s incoming leadership to deepen bilateral relations.&nbsp;&ldquo;Pakistan looks forward to working closely with the newly elected Government of Nepal to further strengthen our historic friendship and cooperation,&rdquo; he said.&nbsp;Historic election winShah&rsquo;s centrist Rastriya Swatantra Party (RSP) appears set to form the next government in Nepal after securing a commanding lead in&nbsp;<a href="https://www.pakistantv.com/article/rapperturnedpolitician-looks-set-for-landslide-nepal-election-win" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">parliamentary elections</a>, with only around two percent of votes left to be counted.&nbsp;According to preliminary results, the party has already secured a majority in the 275-member House of Representatives, marking one of the most dramatic political shifts in recent Nepali politics.&nbsp;The 35-year-old Shah, a rapper-turned-politician who previously served as mayor of Kathmandu, is now widely expected to become Nepal&rsquo;s next prime minister. His rise caps a bold political gamble and follows a wave of support among younger voters.&nbsp;The March 5 parliamentary vote was the first national election since deadly youth-led anti-corruption protests toppled the government in September last year.&nbsp;In a major upset, Shah defeated veteran four-time prime minister KP Sharma Oli in his own constituency. Oli&rsquo;s Marxist-led government had been ousted amid the unrest that swept the country in 2025.

Pakistan's Prime Minister Shehbaz Sharif. (File photo: APP)

Foreign Affairs

The premier praises the electoral outcome, describing it as a strong sign of public confidence in the country’s emerging leadership.

Pakistan PM congratulates Nepal’s new leadership after election victory

DRESDEN: Officials in Dresden evacuated 18,000 people Wednesday after the discovery of an unexploded World War II bomb, the largest such operation yet in the eastern German city, emergency services said. A bomb squad was set to try to defuse the 250-kilogram British bomb which was found during work in the city center to rebuild an Elbe river bridge that collapsed in 2024. The exclusion zone had been fully established by 9:00 am local time, said police in the Saxony state capital. More than 400 police along with other emergency services were deployed, backed up by a helicopter and a drone, to check that homes, shops, schools, care homes and offices were empty inside a one-kilometer radius of the device. The bomb was discovered on Tuesday during clearance and construction work following the partial collapse of the Carola Bridge in September 2024. The evacuation affected major historic sites including the city&#39;s Zwinger Palace and the Frauenkirche church, as well as residential buildings, hotels and government offices. Because the bomb&#39;s detonator is damaged, a water jet cutter has to be used which will &quot;naturally delay&quot; the operation, police spokesman Marko Laske told public broadcaster MDR. If that doesn&#39;t work, bomb squad experts will have to consider detonating the bomb on site, he added. Dresden was heavily bombed by the Allies on February 13 and 14, 1945, killing up to 25,000 people and destroying large parts of the old town known for its Baroque architecture. World War II bombs were previously found and defused at the site in January and August 2025, with thousands of people affected each time.

A police officer cordons off Große Meißner Straße during an evacuation of the city center on March 11, 2026. (AFP)

Europe

Authorities evacuated 18,000 people in Dresden after workers discovered an unexploded 250-kg World War II British bomb during bridge reconstruction, as bomb disposal teams prepared a complex defusing operation.

Dresden city center cleared to defuse unexploded WWII bomb

NEW DELHI: India&#39;s Supreme Court authorized on Wednesday the withdrawal of life support from a man who has been in a vegetative state for over a decade, the first such ruling in the country&#39;s history. India recognized passive euthanasia in 2018, permitting the removal of life support under strict conditions to allow death to occur naturally. But this marks the first time that a court has approved its use for an individual. The parents of Harish Rana had sought to discontinue medical support for their son, who suffered severe head injuries in a fall from a building in 2013 and has been on life support since. The court granted their request on Wednesday, saying in its ruling that Rana exhibited &quot;no meaningful interaction&quot; and had been dependent on others for &quot;all activities of self-care&quot;. &quot;His condition has shown no improvement,&quot; the court was quoted as saying by legal news website Bar and Bench. Doctors had already concluded that Rana, who is in his early 30s, has virtually no chance of recovery. But because he does not have a living will &ndash; a legally binding document outlining preferences for medical care in the event of a terminal condition &ndash; he has not been able to give his consent for passive euthanasia. His parents, therefore, had petitioned the court to allow him to be taken off life support. Active euthanasia, in which substances are directly administered to cause death, remains illegal in India. But the national debate over allowing someone to die dates to the 2011 case of Aruna Shanbaug, a nurse who spent 42 years in a vegetative state following a brutal sexual assault. The Supreme Court rejected a plea by Shanbaug&#39;s family to end her life, and she died from pneumonia in 2015 aged 66. But it did issue a landmark opinion recognizing passive euthanasia under strict safeguards and with judicial approval. The move relied on earlier judgements that recognized the constitutional right to die with dignity, and served as a prelude to the expanded 2018 ruling on passive euthanasia. Euthanasia remains a deeply divisive global issue, with supporters arguing that terminally ill patients should have the autonomy to choose a compassionate end to unbearable suffering, while opponents stress the sanctity of life. A handful of countries, including the Netherlands, Belgium and Canada, allow both euthanasia and physician-assisted dying under tight safeguards.

India's Supreme Court authorized the withdrawal of life support from a man who has been in a vegetative state for over a decade. (University of Pennsylvania) 

India

India’s Supreme Court allowed life support to be withdrawn from a man in a vegetative state since 2013, the country’s first court-approved case of passive euthanasia after his parents petitioned.

India's top court allows withdrawal of life support for man in vegetative state

TANGAIL: Bangladesh&#39;s Tangail sari is fighting for survival as weavers warn that automation and economic pressures are pushing the centuries-old craft to the brink despite its global acclaim.&nbsp;The detailed designs and fine textures of the garments made in the central Tangail city won UNESCO recognition in December as intangible cultural heritage reflecting &quot;local social and cultural practices&quot;.&nbsp;But it has brought little relief to crowded local workshops where a shift to automated looms, evolving fashion choices, unstable yarn prices and a lack of government support have squeezed weavers at every turn.&nbsp;Ajit Kumar Roy, who spends the day interlacing warp and weft threads while paddling the shuttle back and forth, says the honor has done little to ease his daily hardship.&nbsp;&quot;It&#39;s all hard work,&quot; the 35-year-old weaver told AFP as he worked the handloom he has operated for nearly two decades.&nbsp;&quot;Hands, legs and eyes must move together. If I make a mistake then there is a problem.&quot;&nbsp;Men typically lead the weaving, dyeing and design work, while women prepare threads, apply rice starch and add finishing touches.&nbsp;High-profile clientsOnce considered a well-paying profession, weaving has suffered from a market slump that began during the Covid-19 pandemic and never recovered.&nbsp;Roy said his factory owner used to run 20 handlooms but now has only 10.&nbsp;&quot;Some factories have shut down entirely,&quot; Roy said.&nbsp;With demand falling and costs rising, many weavers have abandoned the craft, turning to driving or construction work to survive.&nbsp;&quot;We earn 700 taka ($6) per sari, and it takes at least two days to make one. How can a family of four live on 350 taka a day?&quot;&nbsp;Raghunath Basak, president of a local sari traders&#39; association, whose family has preserved Tangail weaving for generations, fears the craft may end with him.&nbsp;His ancestors migrated in search of weather and water suitable for weaving before settling in Tangail, nestled in a low-lying floodplain near the Jamuna River.&nbsp;&quot;I brought my son into the profession too, but I don&#39;t know how he will cope after I am gone,&quot; Basak, 75, said from his showroom, where shiny crests line the walls.&nbsp;Despite high-profile clients -- from political leaders in India&#39;s West Bengal state to ousted Bangladeshi prime minister Sheikh Hasina, who wore his sari to deliver a speech to the UN General Assembly -- Basak says the industry is struggling.&nbsp;Cultural symbolA halt to land-port trade with neighboring India following a diplomatic fallout has also affected business.&nbsp;&quot;We used to export saris by road and import yarn when local prices shot up. Now land ports on both sides are sealed. Export has become almost impossible,&quot; he said.&nbsp;In the 1960s, the sari emerged as a cultural symbol as Bengalis in what was then East Pakistan embraced their ethnic identity.&nbsp;But consumer preference is slowly shifting.&nbsp;Kaniz Neera, 45, buys two dozen Tangail saris a year, favoring their distinctive patterns and comfortable design, but worries that the younger generation is drifting away.&nbsp;&quot;Sari is integral to our identity,&quot; she said. &quot;My mother wears sari at home and outside. I wear it mostly outside. (But) girls now wear sari only on special occasions.&quot;&nbsp;But researchers remain cautiously optimistic.&nbsp;Shawon Akand, author of a book on the subject, notes that the Tangail sari is a relatively recent evolution by the descendants of Dhakai muslin weavers whose creations once captivated Mughal rulers and European aristocracy.&nbsp;&quot;The Tangail weavers inherited fine yarn techniques from their ancestors and adapted with unique designs in Tangail sari,&quot; Akand told AFP.&nbsp;&quot;Tangail sari will evolve. It will endure.&quot;

Bangladesh

Bangladesh’s Tangail sari craft faces decline as automation, low wages, falling demand and trade disruptions push weavers to abandon the centuries-old tradition, despite UNESCO recognition and its status as an important cultural symbol.

Bangladesh sari weaving tradition hangs by a thread

TOKYO: A Japanese <a href="https://www.pakistantv.com/article/rano-the-karachi-zoo-bear-begins-new-life-in-islamabad-sanctuary" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">zoo</a> caring for a baby monkey who has become an internet sensation was forced to issue a statement denying he was being bullied, following an outpouring of concern online. Punch, a seven-month-old baby macaque, was abandoned by his mother and shot to stardom after he began clinging to a plush orangutan toy from IKEA for comfort at Ichikawa City Zoo outside Tokyo. But after the zoo posted on X last month that Punch &quot;had been scolded many times by other monkeys&quot;, videos showing him being chased by members of the troop were spread online, alongside claims that he was being bullied. &quot;As a result, we have received many voices of concern from people both in&nbsp;<a href="https://www.pakistantv.com/article/japan-introduces-ai-robot-monk-to-the-public" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Japan</a>&nbsp;and overseas,&quot; the zoo said in a statement Tuesday. The zoo added that Punch was becoming less reliant on the stuffed orangutan toy because increasing numbers of monkeys were looking after or playing with him. &quot;While dominant individuals may show disciplining actions toward their subordinates, as macaques do naturally, these actions in the macaque society &#39;differ from human abuses&#39;,&quot; it said. &quot;Punch spends most of the day peacefully,&quot; the zoo added. The zoo also warned that &quot;Punch has become accustomed to living in this troop, so separating him now would create the risk that he would never be able to return to the group and would have to continue living that way for the rest of his life&quot;. Spurned by its mother, Punch was raised in an artificial environment after being born in July, and began training to rejoin his troop earlier this year. Punch&#39;s predicament sparked huge interest online, spawning a devoted fanbase under the hashtag #HangInTherePunch, as large crowds thronged the zoo, and sales of his IKEA orangutan toy boomed. However, <a href="https://www.pakistantv.com/article/rajasthan-muslim-youth-killed-in-bajrang-dal-cow-vigilante-attack" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">animal rights</a> group People for the Ethical Treatment of Animals (PETA) said Punch&#39;s plight has highlighted the cruelty of zoos and called for his relocation to a &quot;reputable sanctuary, where he could live in a more natural environment&quot;.

Baby monkey named 'Punch' is seen with its mother at a zoo on February 20, 2026, in north of Tokyo, Chiba Prefecture, Japan. (AFP)

Entertainment

A Tokyo zoo denied that viral baby macaque Punch is being bullied after videos sparked concern online, saying the orphaned baby is naturally integrating with the troop and spending most of his time peacefully.

Punch the baby monkey isn't being bullied: Japan zoo

PARIS: Energy ministers of the G7 said on Wednesday they &quot;stand ready&quot; to take &quot;all necessary measures&quot; in coordination with the International Energy Agency (IEA) to tackle the rise in crude oil prices due to the Middle East war.&nbsp;The <a href="https://www.pakistantv.com/article/wall-street-intends-to-stay-open-around-the-clock" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Wall Street Journal</a> reported Tuesday, citing officials familiar with the matter, that the IEA had proposed its largest-ever release of oil reserves to counter soaring crude prices driven by the US-Israeli war with Iran.&nbsp;After a virtual meeting on Tuesday with the IEA&#39;s executive director, they said in a statement: &quot;G7 members will carefully consider the recommendations issued during these discussions.&quot;&nbsp;&quot;In principle, we support the implementation of proactive measures to address the situation, including the use of strategic reserves,&quot; they said, adding they were coordinating within the G7, with IEA member countries and beyond.&nbsp;&quot;We agreed to stand ready to take all necessary measures in coordination with IEA Members,&quot; the statement said.&nbsp;G7 finance ministers met on Monday and G7 energy ministers on Tuesday to discuss the potential release of emergency stocks.&nbsp;&quot;We want to be ready to react at any moment,&quot; French Finance Minister Roland Lescure, whose country holds the rotating presidency of the Group of Seven advanced economies, said Tuesday.&nbsp;Asian equities extended gains Wednesday while oil stabilised after the WSJ report.&nbsp;The crude market has been hit by wild volatility since the United States and Israel began striking Iran at the end of last month, with Tehran retaliating by attacking targets across the oil-rich Gulf and effectively shutting down the crucial Strait of Hormuz.&nbsp;IEA member countries currently hold over 1.2 billion barrels of public emergency oil stocks, with a further 600 million barrels of industry stocks held under government mandates.&nbsp;The Paris-based IEA was created to coordinate responses to major supply disruptions after the 1973 oil crisis.&nbsp;In order to ensure energy security, the IEA imposes on its members an obligation to hold emergency oil stocks equivalent to at least 90 days of net oil imports.

An oil tanker unloads crude oil at a terminal at the port in Qingdao, in China’s eastern Shandong province, on March 11, 2026. (Photo: AFP)

Business

The Wall Street Journal reported Tuesday, citing officials familiar with the matter, that the IEA had proposed its largest-ever release of oil reserves to counter soaring crude prices driven by the US-Israeli war with Iran.

G7 energy ministers 'ready' to take 'necessary measures' on oil reserves

SYDNEY: An Iranian women&#39;s football team member who sought sanctuary in Australia has changed her mind after speaking with teammates, Home Affairs Minister Tony Burke said Wednesday.&nbsp;Seven members of Iran&#39;s visiting women&#39;s football team had claimed&nbsp;<a href="https://www.pakistantv.com/article/five-iran-women-footballers-take-asylum-in-australia" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">asylum</a>&nbsp;in Australia after they were branded &quot;traitors&quot; at home over a pre-match protest.&nbsp;One player and one support member sought sanctuary before the side flew out of Sydney to Kuala Lumpur on Tuesday evening in emotional scenes, joining five other athletes who had already claimed asylum.&nbsp;Burke said in parliament on Wednesday that he had since been advised one of the group &quot;had spoken to some of the team mates that left and changed their mind.&quot;&nbsp;&quot;She had been advised by her teammates and encouraged to contact the Iranian embassy,&quot; he said.&nbsp;&quot;As a result of that, it meant the Iranian embassy now knew the location of where everybody was.&quot;&nbsp;The remaining players have been moved from a safe house to another location, he said.&nbsp;The travelling squad arrived in Malaysia early Wednesday morning after flying out from Sydney, AFP photos at Kuala Lumpur International Airport showed.&nbsp;There were fears that male minders travelling with the team might try to prevent other women seeking asylum.&nbsp;Burke said each player was separated from the squad at Sydney Airport and given time to mull the offer in private.&nbsp;Australian officials had &quot;made sure this was her decision,&quot; he said, referring to the Iranian team member who had changed her mind.

Football

Seven Iranian women’s football team members sought asylum in Australia after being labelled 'traitors' over a protest. One later changed her mind after speaking with teammates and contacting the Iranian embassy. The remaining players were relocated for safety.

Iranian women's football team member changes mind on asylum in Australia

PARIS: Kharg Island, a scrubby stretch of land in the northern Gulf, handles almost all of Iran&#39;s crude&nbsp;<a href="https://www.pakistantv.com/article/hormuz-crisis-as-iran-war-disrupts-global-oil-supply-and-fuel-prices" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">exports</a>&nbsp;and any attempt to seize it would mark a major escalation in the conflict, analysts say. The US and Israel have so far trodden carefully around the island, but an Axios report over the weekend cited Trump administration officials saying capturing Kharg was on the table as the war in the Middle East persists. The island, located around 30 kilometres off the Iranian mainland, handles roughly 90% of Iran&#39;s crude exports, according to a JP Morgan note released Sunday. Any move on the territory, which is about one-third the size of Manhattan, would have swift repercussions, experts say. &quot;A direct strike would immediately halt the bulk of Iran&#39;s crude exports, likely triggering severe retaliation in the&nbsp;<a href="https://www.pakistantv.com/article/oil-water-and-internet-how-strait-of-hormuz-controls-global-economy" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Strait of Hormuz</a>&nbsp;or against regional energy infrastructure,&quot; JP Morgan said. The Middle East War has all but halted maritime traffic in the Strait of Hormuz &ndash; through which a fifth of global crude oil and liquefied natural gas normally pass &ndash; and has also impacted oil infrastructure in other Gulf states. But Iranian energy assets have not been degraded so far and targeting the island would be &quot;a very risky move&quot;, Farzin Nadimi, senior fellow at the Washington Institute for Near East Policy, told AFP. Iran is not only &quot;experienced in using alternatives&quot; in wartime, it could &quot;cause a lot more damage on the Gulf oil and gas installations if they want to and they can do a lot more very quickly, and everybody knows that&quot;. &quot;I don&#39;t think that seizing the island will go any further than US Congressional debates,&quot; he added, the prospect having been discussed in Washington since the hostage crisis that started in 1979 during the foundation of the current regime. Kharg underwent key developments during Iran&#39;s oil expansion in the 1960s and 1970s, with much of the country&#39;s coast too shallow for supertankers. Iran has&nbsp;sought to diversify its export capabilities by opening the Jask terminal outside the Strait of Hormuz&nbsp;<a href="https://www.pakistantv.com/article/oil-shock-from-iranus-conflict-sends-economic-ripples-through-pakistan" target="_blank">chokepoint</a>&nbsp;in the Gulf of Oman in 2021, but Kharg remains &quot;a critical vulnerability&quot; for Iran, JP Morgan said. &quot;It is a cornerstone of Iran&#39;s economy and a major source of revenue for the Iranian Revolutionary Guard,&quot; JP Morgan added. &#39;Very difficult&#39; The war has sent&nbsp;<a href="https://www.pakistantv.com/article/asia-stocks-down-sharply-as-oil-hits-100" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">oil prices</a>&nbsp;soaring, although US President Donald Trump&#39;s suggestion on Monday that the conflict could end soon has calmed the market. Over the weekend, the director of the White House National Energy Dominance Council, Jarrod Agen, told Fox News that &quot;what we want to do is get such massive oil reserves in Iran out of the hands of terrorists&quot;. In recent days, the Washington Post reported heightened speculation that US ground forces could be preparing to deploy, citing analysts who said Kharg Island would be an early target. Nadimi said Washington could move to seize the island when hostilities end, but that it was &quot;not a wise move&quot; during combat when Kharg is &quot;almost an entire island of oil facilities and pipelines and tank farms&quot;. &quot;It is very difficult to wage a military operation on that particular island,&quot; he said. But other oil infrastructure could be in the crosshairs, with Trump repeatedly referencing his operation to topple Venezuelan President Nicolas Maduro and gain access to the country&#39;s oil reserves in January as a blueprint. Iran &ndash; the fourth-biggest crude producer within the Organization of the Petroleum Exporting Countries (<a href="https://www.pakistantv.com/article/opec-backs-market-stability-as-iran-rules-out-hormuz-closure" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">OPEC</a>) &ndash; vowed not one liter of oil would be exported from the Gulf while the war continues. Any attack on its infrastructure would get an &quot;eye for an eye&quot; response, it said. On Saturday, Israel launched its first attack of the war on oil facilities in Iran, but it said they were used &quot;to operate military infrastructure&quot;. The same day, Israeli opposition leader Yair Lapid argued for stronger steps, saying in an X post: &quot;Israel needs to destroy all of Iran&#39;s oil fields and energy industry on Kharg Island; that&#39;s what will crush Iran&#39;s economy and bring down the regime.&quot;

This handout satellite image taken by 2026 Planet Labs PBC shows a view of Iran's Kharg Island, which hosts the country’s main crude export terminal and is responsible for the overwhelming majority of its oil shipments to the world, (AFP)

Kharg Island handles about 90% of Iran’s crude exports, making it a critical energy hub. Analysts warn any attempt to seize or strike the island could escalate the war and disrupt global oil supplies.

World oil prices rally over 5% on Middle East war

Latest News

Thai bulk carrier, two cargo ships hit amid rising 'Strait of Hormuz' tensions

Pakistan PM congratulates Nepal’s new leadership after election victory

World oil prices rally over 5% on Middle East war

Dresden city center cleared to defuse unexploded WWII bomb

India's top court allows withdrawal of life support for man in vegetative state