Middle East war: global economic fallout

Oil prices drop Oil prices fell on Tuesday after Iranian President Masoud Pezeshkian said on Tuesday his country had the "necessary will" to end the ongoing war with Israel and the United States, but was seeking guarantees that the conflict would not be repeated. Crude was still trading well above $100 a barrel, however. Trump threatens Kharg hub Trump threatened to destroy Iran's Kharg Island oil export hub if a deal to end the war was not reached soon and the Strait of Hormuz did not "immediately" open.