Iran's 2026 Red Sea and Dubai attacks sparked U.S.-Israel strikes, raising global oil prices and tensions.

In March 2026, Iran intensified attacks on commercial shipping in the Red Sea and Strait of Hormuz, struck Dubai International Airport with drones, and targeted oil facilities, prompting U.S. and Israeli airstrikes on Iranian military sites. The actions heightened regional tensions, disrupted global trade, and raised energy security concerns, leading to rising oil prices and insurance costs. International leaders urged restraint, while global markets reacted to the instability. No ceasefire or diplomatic resolution has been reached as of March 11.