Iran war keeps Strait of Hormuz paralyzed and oil prices over $100
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Iran war could escalate further as Trump threatens to hit key oil infrastructure if Tehran doesn't drop its chokehold on the Strait of Hormuz.
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Live Live Updates: Iran war keeps oil prices over $100 with Strait of Hormuz paralyzed despite Trump's demands By Tucker Reals Tucker Reals Editor Tucker Reals is CBSNews.com's foreign editor, based in the CBS News London bureau. He has worked for CBS News since 2006, prior to which he worked for The Associated Press in Washington, D.C., and London. Read Full Bio Tucker Reals March 16, 2026 / 6:18 AM EDT / CBS News Add CBS News on Google What to know as the U.S.-Israeli war with Iran drives up energy prices: Oil prices remain over $100 a barrel as President Trump's demand that other countries help reopen the Strait of Hormuz a vital shipping lane Iran has paralyzed for over two weeks despite relentless U.S. and Israeli strikes — draws no immediate offers of assistance. Defense Secretary Pete Hegseth says U.S.-Israeli strikes have diminished Iran's missile and drone launches by 90%, but Tehran's attacks continue targeting both Israel and America's Gulf allies, and Iran's top diplomat tells CBS News he sees no reason to negotiate now. Plans for the U.S. to deploy as many as 5,000 additional forces to the Middle East and Mr. Trump's threat to attack vital Iranian oil infrastructure suggest the war could escalate further. Iran says the U.S.-Israeli strikes have killed nearly 1,500 people, while Lebanese officials say Israel's growing assault on Hezbollah has killed more than 800 people. Iran's retaliatory strikes have killed 14 people in Israel and 40 more across the Middle East, including 13 U.S. service members . New Updates 12m ago Iranian drone strike sparks "significant fire" in UAE's Fujairah oil zone Authorities in the United Arab Emirates said they were working Monday to contain a fire sparked by a drone strike on the Fujairah Oil Industries Zone. The regional government for Fujairah said there were no reported injuries, but it did not give any information on how much damaged may have been caused by the blaze to the coastal region's petroleum infrastructure. Ira...
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