Iran has effectively blocked shipping traffic through the Strait of Hormuz and continued attacks on Gulf Arab neighbors' energy infrastructure, raising fears of a global energy crisis as oil prices remain above $100 per barrel. The escalation comes more than two weeks after initial attacks by the United States and Israel on Iran on February 28.

Brent crude oil reached $104 per barrel in Monday trading, up nearly 45% since the conflict began, with prices spiking as high as $120 during the crisis. The Strait of Hormuz typically handles a fifth of the world's oil transport, making its closure a significant threat to global energy supplies.

Iranian attacks struck multiple Gulf targets on Monday. A drone hit a fuel tank near Dubai International Airport, causing a large fire and temporary flight suspensions, though no injuries were reported. A missile strike in Abu Dhabi killed one person, and fire broke out at an oil facility in Fujairah following another drone attack. Saudi Arabia reported intercepting 35 Iranian drones targeting its eastern oil region.

Israel launched new strikes on Beirut before dawn Monday, targeting what it said was Hezbollah-related infrastructure, and conducted additional attacks on Tehran. Israeli military reports indicate Iran has been using cluster bombs designed to evade air defenses. The conflict has displaced over 800,000 people in Lebanon, with at least 850 killed by Israeli strikes, including 107 children and 66 women.

President Trump said he has requested about seven countries to send warships to help keep the Strait of Hormuz open but has received no commitments. Speaking aboard Air Force One, Trump said he would "remember" which allies decline to help, though he did not identify the specific countries approached.

Iranian Foreign Minister Abbas Araghchi dismissed speculation about potential negotiations, stating on social media that Iran seeks "neither truce nor talks." European Union foreign ministers are discussing possibly extending their Red Sea naval mission to the Strait of Hormuz, though German officials expressed skepticism about European involvement without a negotiated solution to the broader conflict.