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March 12, 2026

Iran Launches Missile and Drone Attacks on Gulf Nations Amid Rising Oil Prices

The CSR Journal Magazine

Iran has intensified its missile and drone strikes targeting Gulf states as tensions escalate due to the ongoing conflict involving the United States and Israel against Tehran. On Thursday morning, Bahraini authorities advised residents to remain indoors and secure windows after an attack on fuel tanks in the Muharraq Governorate. Bahrain, which is home to the US Navy’s Fifth Fleet, has faced consistent threats during this period of heightened hostilities.

Saudi Arabia Intercepts Incoming Drones

In Saudi Arabia, the Ministry of Defence reported the successful interception of multiple drones aimed at the Shaybah oilfield and a diplomatic area. Specifically, seven drones were brought down on Wednesday before they could reach their targets. Additionally, Kuwait reported injuries from a drone strike that hit a residential building, leading to some material damage, according to its Defence Ministry.

UAE Responds to Missile Threats

The United Arab Emirates has also been active in addressing security threats, with its air defence systems responding to potential missile attacks. Reports indicate that the UK’s Maritime Trade Operations agency noted an attack on a container ship approximately 35 nautical miles north of Jebel Ali within the UAE’s waters.

Wider Regional Impact of the Conflict

Siren alerts were activated across Jordan as a precautionary measure amidst the escalating violence. The ongoing war, which is estimated to have resulted in around 2,000 fatalities, has significantly disrupted global energy markets and transportation systems. As of Thursday, Brent crude oil prices approached $100 per barrel, marking an increase of over 38 percent since the conflict’s onset.

Suspension of Operations at Iraqi Oil Terminals

The situation has led to widespread ramifications, notably in Iraq, where the head of the General Company for Ports announced a complete suspension of operations at oil terminals. Despite this, commercial ports continue to operate under normal conditions. This decision follows recent attacks involving explosive-laden vessels targeting two crude oil tankers that had departed from Umm Qasr port in Basra.

Strait of Hormuz Traffic Severely Impacted

As tensions heighten in the region, traffic through the Strait of Hormuz—the critical waterway responsible for transporting a significant portion of the world’s oil and gas—has effectively come to a standstill. Iranian authorities have declared that not a single litre of oil will be permitted for export from the Gulf to the US, Israel, or their allies as long as the current conflict persists.

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