The World in Brief from The Economist

Donald Trump said America would “immediately” provide insurance for shipping lines travelling through the Strait of Hormuz, and that the navy would escort oil tankers if necessary; A drone strike caused a “limited” fire near the American consulate in Dubai. 

Israel’s armed forces said troops were “operating in southern Lebanon” as its offensive against Hizbullah intensifies. Also, Donald Trump vowed retribution for an Iranian drone attack on the American embassy in Riyadh

Donald Trump described America’s attack on Iran as “our last best chance to strike”.

Donald Trump described America’s attack on Iran as “our last best chance to strike"; Gas prices in Europe soared by 50% after QatarEnergy LNG halted production following Iranian drone attacks on its facilities.

Conflict spread in the Middle East as Israel carried out strikes on Lebanon after Hizbullah launched missiles at Israel. Also, oil prices surged and stockmarkets fell as the war in Iran entered its third day.

Oil prices surged dramatically when markets opened in Asia as traders reacted to the war in Iran that began over the weekend.

Trump plans to talk to Iran’s new leadership; Pentagon reports casualties, and more

Israeli officials said the strikes had also killed senior regime officials, including the commander of the IRGC, and key members of Iran’s nuclear programme.