Iran escalates attacks as global oil supply tightens

Iran has escalated its attacks on three commercial ships, two drone strikes hit Dubai’s airport, and some of the regime’s most advanced ballistic missiles were fired toward Tel Aviv and Haifa in Israel. While the United States says it successfully destroyed 16 mine-laying vessels in the Strait of Hormuz, the critical trade route remains closed. Now, members of the International Energy Agency are tapping into their strategic oil reserves to help ease the shrinking global fuel supply.