On February 28, the United States and Israel launched strikes on targets in Iran, including in Tehran, causing damage and civilian casualties. Iran responded by striking Israeli territory and US military facilities in the Middle East.
The escalation around Iran has led to the de facto blockade of the Strait of Hormuz, a key route for deliveries of oil and liquefied natural gas from the Persian Gulf countries to the global market, and has also affected the level of oil exports and production in the region.
As a result, fuel prices are rising in most countries around the world.