The US and Israel on Feb 28 launched what they described as a “pre-emptive” joint strike against Iranian targets, with Trump announcing start of “major combat operations”
Major US passenger airlines spent just over $5 billion on jet fuel in March, up $1.8bn or 56 per cent from what they spent in February, Reuters reports, citing the US Transportation Department.
The cost per gallon of fuel in March was $3.13, up 74 cents, and 31pc over February. Fuel use rose 20pc in March, the department adds.
Since the US-Israeli war with Iran began, disruptions to shipping through the Strait of Hormuz have roiled global oil markets. Surging jet fuel prices have created the air travel industry’s biggest crisis since the COVID-19 pandemic.
The Israeli military says on of its soldiers has been “severely injured” in southern Lebanon, Al Jazeera reports.
The soldier was wounded “as a result of an explosive drone impact” earlier today, Israel’s military says, adding that the soldier has been evacuated and hospitalised.
Iran’s permanent mission to the United Nations says that a permanent end to the war, the lifting of the US naval blockade and the restoration of normal passage are “the only viable solution” to resolve the crisis in the Strait of Hormuz.
“Instead, the US is pushing a flawed, politically motivated UN Security Council draft resolution under the pretext of “freedom of navigation” to advance its political agenda and legitimise unlawful actions—not to resolve the crisis,” the mission says in a post on X.
“Iran calls on Member States to act on the basis of logic, fairness and principle, not pressure, reject the draft, and refrain from supporting or co-sponsoring it.”
Iran’s Parliament Speaker Mohammad Bagher Ghalibaf has accused the US of trying to use economic and media pressure to create divisions within Iran and push it to “surrender”, a tactic he says will fail, according to Al Jazeera.
“The enemy is very hopeful about economic pressure, and it is clear that they have once again received false reports, and based on these reports, they have made wrong decisions,” Ghalibaf has said in comments carried by Iran’s Fars news agency. “This wrong decision will cause everyone to suffer.”
He says that no matter the extent of the economic pressure, “the Iranian nation will endure … for the sake of the independence.”
Two bodies have been recovered by civil defence teams in Tyre, southern Lebanon after Israeli strikes targeted a car near Al-Siraj High School, Al Jazeera reports.
Lebanon’s National News Agency also reported that an Israeli raid targeted a house in the town of Khirbet Selm, next to the municipality building.
At least five people have been killed and 15 wounded after an Israeli attack on the town of al-Saksakieh in southern Lebanon, Al Jazeera reports citing the state-run National News Agency (NNA).
Earlier, Israel launched two intense air strikes on the al-Dawoudiya farm on the outskirts of al-Saksakieh.
Iranian foreign ministry spokesperson Esmaeil Baghaei says that negotiations require “at the very least, a genuine attempt to engage in discussions with a view to resolving the dispute”, citing paragraph 157 of a judgment from the International Court of Justice from April 2011.
“It needs ‘good faith’, then, meaning that ‘negotiations’ is not ‘disputation’; nor is it ‘dictation’, ‘deception’, ‘extortion’ or ‘coercion’,” Baghaei adds in a post on X.
Israel’s army chief Lieutenant General Eyal Zamir has visited troops in southern Lebanon, vowing to dismantle Hezbollah and saying the military is prepared to launch a new offensive against Iran if needed, AFP reports.
“We will seize every opportunity to deepen the dismantling of Hezbollah and continue weakening it,” Zamir tells soldiers in the area of the Lebanese town of Khiam.
He adds that the military is also “on high alert to return to a powerful and broad operation that will enable us to deepen our achievements and further weaken the Iranian regime”.
European natural gas prices have fallen sharply as optimism over a potential US-Iran agreement eases concerns about disruptions to global liquefied natural gas supplies, Anadolu reports.
Benchmark Dutch TTF futures, Europe’s main natural gas contract, dropped more than 8 per cent to below €43 ($50.6) per megawatt-hour.
The decline comes after reports that Washington and Tehran are close to a preliminary agreement that could end the conflict and open the door to broader nuclear negotiations.
The prospect of de-escalation reduces fears of prolonged disruption around the Strait of Hormuz, a critical route for global energy shipments.
Two intense Israeli airstrikes on the al-Dawoudiya farm on the outskirts of the town of al-Saksakieh in southern Lebanon have killed residents and wounded others, Al Jazeera reports citing the country’s National News Agency (NNA).
At the same time, the Israeli army targeted a car on the Hadaya road near Al-Siraj High School between Wadi Jilo and the town of Tyre Dibba, killing residents whose bodies were being transported by the Al-Risala Association teams, NNA reports.
The exact death toll figures from the attacks have yet to be reported.
Hezbollah claims it has targeted multiple groups of Israeli soldiers and military vehicles in towns and villages across southern Lebanon since dawn, Al Jazeera reports.
The group claims the strikes are in retaliation for the killing and injuring of civilians in “violation of the ceasefire”.
Hezbollah says its fighters struck a group of Israeli soldiers who had gathered in the town square of Taybeh in a “swoop-down attack”. Other attacks happened in the towns of Biyyada, Hula, Deir Siryan, Qouzah and a newly established command centre in Qantara.
Israeli soldiers near a swimming pool in the town of Naqoura were also targeted with “a swarm of attack drones”.
Israel was not aware that US President Donald Trump was potentially close to a deal with Iran that would end the war and pave the way to unblock shipping in the Strait of Hormuz, Reuters reports citing an Israeli source familiar with the matter.
Rather, Israel was preparing for an escalation in fighting, says the source, speaking on condition of anonymity.
Saudi Foreign Minister Prince Faisal bin Farhan has discussed regional developments and efforts to maintain security and stability in the Middle East during a phone call with Iranian Foreign Minister Abbas Araghchi, the Saudi foreign ministry says in a statement.
Iranian Foreign Minister Abbas Araghchi has hailed “constructive” talks with his Chinese counterpart Wang Yi, adding that both sides have affirmed Iran’s right to protect its national sovereignty.
In a post on X, Tehran’s top diplomat says the country appreciates a four-point proposal from Beijing on “upholding and promoting regional peace and stability”.
“The Iranian side trusts the Chinese side and expects the Chinese side to continue playing a positive role in promoting peace and stopping war, and supports the establishment of a new postwar regional architecture that can coordinate development and security,” Araghchi adds.
Ebrahim Rezaei, spokesperson for Iran’s National Security Committee, has dismissed an Axios report about a potential agreement to end the US war on the country as “a wishlist of the Americans rather than a reality”.
China’s foreign ministry has issued a statement, vowing to work for de-escalation in the Strait of Hormuz and keep Chinese vessels and their crew safe.
“[We] hope parties will avoid further escalation, resolve disputes through dialogue and restore peace to the Strait soon,” the statement, posted on X, adds.
Iranian foreign ministry spokesperson Esmaeil Baghaei has said that the US plan and proposal remain under review by Tehran, according to Iranian outlet ISNA.
“Tehran will convey its conclusions to the Pakistani side after finalising its viewpoints,” ISNA adds, quoting Baghaei.
France’s Charles de Gaulle aircraft carrier group is moving into the Red Sea and Gulf of Aden, as part of efforts by France and Britain to prepare for a future mission to help freedom of navigation on the Strait of Hormuz, Reuters reports, citing the French military.
The French Armed Forces ministry says in a statement that the aircraft carrier group has crossed the Suez Canal, en route to the south of the Red Sea.
This French aircraft carrier strike group was deployed to the eastern Mediterranean shortly after the US and Israel launched air strikes on Iran, and it can stay at sea between four and five months.
Gold prices have risen by more than 3 per cent, reaching $4,700 per ounce, as renewed diplomatic signals from Tehran and Washington raise hopes that tensions around the Strait of Hormuz could ease after weeks of conflict and military escalation, Anadolu reports.
Investor sentiment has improved following reports that the White House believes it is nearing a deal with Iran on a one-page memorandum of understanding, aimed at ending the war and establishing a framework for broader nuclear talks.
Gold, traditionally viewed as a safe-haven asset during periods of geopolitical uncertainty, has remained highly sensitive to developments in the region as markets assess whether the latest diplomatic push can reduce the risk of further escalation.
Israel and Egypt are among the countries that have offered their support to the United Arab Emirates after a volley of Iranian attacks on Monday and Tuesday, Reuters reports.
Israeli Prime Minister Benjamin Netanyahu spoke to UAE President Sheikh Mohammed bin Zayed Al Nahyan to affirm Israeli solidarity, the Emirati state news agency WAM reports.
Egypt conveyed a similar message in a call between its foreign minister and his Emirati counterpart, the foreign ministry in Cairo says.
