Three commercial ships have been damaged by "unknown projectiles" in the Strait of Hormuz - here's why the shipping channel is so important
23 crew members on board one ship are being rescued - pictures show smoke billowing from the vessel
Earlier, the US military said it "eliminated" 16 Iranian mine-laying ships in the area, after President Trump warned Iran not to "put out any mines" there
Iran continues its strikes across the region, including in Saudi Arabia, the UAE, and Kuwait
Four people were injured when two drones fell near Dubai airport - air traffic has not been affected. As our correspondent reports, it's the second drone attack in the area in recent days
Israel launches more attacks on Iran and Lebanon - in central Beirut, there is "absolute shock" after an apartment building was hit, our correspondent says
Earlier, Iran's police chief said any Iranians thinking of protesting against the government would be dealt with "in the same way we deal with the enemy"
The International Energy Agency will approve the release of 400m barrels of oil to offset the supply lost through the "effective closure" of the Strait of Hormuz, its executive director Fatih Birol has announced.
He says IEA countries voted "unanimously" to launch the "largest ever release of emergency oil stocks in our agency's history".
The International Energy Agency is about to deliver a statement on plans surrounding the release of oil reserves in the face of volatility following the Iran conflict.
We'll be listening and will bring you any key updates. Earlier, our business editor Simon Jack explained what releasing oil reserves can achieve - and why it may not lead to lower oil prices.
Ahmed Adan
BBC News
Image source, Aline KarnakianAline Kamakian, a restaurant owner in Beirut, Lebanon, tells the BBC she was born and raised in wars, but "these bombs are different".
"They are louder and you feel it deep in your heart,” Aline says.
“I'm Lebanese; we cannot close and move. Where should I move?
Aline says so far she has avoided having to close her restaurant.
“We're refusing to close because if I close, by the time you reopen, it's another challenge. And I don’t want my employees to get depressed. So, we're coming and we're sitting together, eating together at least to keep this momentum. Maybe we're hoping that this will be over soon and we can come back to our normal life.”
Aline says it is hard to make ends meet.
“I have literally no one entering. We do like three or four deliveries, which are nothing. I cannot hold it for a long time. I can hold it for one week, two weeks, three weeks, maybe. But afterwards, I cannot.”
By Paul Brown
Recent satellite imagery analysed by BBC Verify shows extensive damage to at least 13 aircraft at a military air base near the city of Isfahan in central Iran.
The image of Eighth Shekari Air Base, captured on Monday by US-based intelligence company Vantor, show some of the aircraft appear to have completely burned out, leaving only scorch marks.
For others there is still debris visible on the tarmac.
Images captured on 22 February show F-14 and F-7 fighter jets at the same locations, but it is not possible to confirm from the images exactly which aircraft have been damaged or destroyed.
There is also visible damage to aircraft shelters and other structures at the base, which is linked to Isfahan International Airport.
BBC Verify has observed damaged aircraft at four Iranian air bases so far, as well as damaged buildings at six others.
Iran says its policy for reciprocal strikes "has ended", a spokesman for Tehran's Khatam al-Anbiya military command headquarters says in a statement.
Tehran's policy now will be "strike upon strike," spokesman Ebrahim Zolfaqari says.
Tehran will "not allow even a single litre of oil" to pass through the Strait of Hormuz to reach the US, Israel and their partners, Zolfaqari adds. "Any vessel or tanker bound to them will be a legitimate target."
"Get ready for the oil barrel to be at $200 because the oil price depends on the regional security which you have destabilised," the spokesman adds.
Jonathan Josephs
Business reporter
Germany’s economy minister appears to have confirmed plans for the International Energy Agency (IEA) to make the biggest release of oil reserves in its history.
She said the 32 members have been asked to release 400m barrels collectively. That’s a significant chunk because it's about a third of the total these governments hold.
Katherina Reiche said her country would contribute to what she called “an instrument for dealing with supply shortages” and that it was “clear that there must be a visible signal to the market to curb high risk premiums and speculative gains with such a significant step”.
This global effort to calm energy markets comes after oil prices have been particularly volatile in recent days, sending shockwaves through the global economy.
They remain significantly ahead of where they were before the Iran war started - as I write this, a barrel of benchmark Brent Crude is trading at over $91 (£68).
Earlier, Japan, which has one of the biggest reserves, said it was planning to release 15 days' worth of private-sector oil reserves and one month's worth of state oil reserves, according to Prime Minister Sanae Takaichi.
She said “rather than wait for formal IEA approval of a coordinated international reserve release, Japan will act first to ease global energy market supply and demand, releasing reserves as early as the 16th of this month”.
Meanwhile Austria’s energy minister says they “will support a decision in principle”.
All are members of the IEA which is reported to be announcing a decision on a release in the coming hours but hasn’t responded to my enquiries.
Jacob Phillips
Live reporter
Image source, ReutersIsrael has announced a "wide-scale wave" of attacks against Iran and further attacks against Beirut while Iran continues to strike neighbouring countries in the Gulf region.
Strait of Hormuz
Continued airstrikes
Oil prices
Image source, CentCom/ReutersThe US military says it struck Iranian targets near the Strait of Hormuz
In the UK, Prime Minister's Questions is under way and the focus is on the war in Iran, with Keir Starmer asked about the knock-on impact on the British public and whether British troops will get involved.
Starmer defends his decision not to join the war, and says: "Our armed forces are working day and night to protect British lives and British interests in the Middle East.
"The RAF have flown over 230 hours of defensive operations over multiple countries, shooting down multiple drones, protecting British lives and our allies," he says.
Starmer says fuel duty will "remain frozen until September", and the government will keep the situation under review in light of events in Iran.
You can follow our live coverage of the House of Commons right now.
The Dutch airline KLM has cancelled all flights to Dubai until 28 March due to "the ongoing geopolitical unrest in the Middle East", it says.
Earlier, officials in Dubai said two drones “fell in the vicinity” of Dubai International Airport this morning, and four people were injured.
"KLM remains available for the repatriation of stranded travellers," the airline says in a statement on its website, adding that the Dutch Ministry of Foreign Affairs is coordinating this.
Image source, Getty ImagesThe Dubai skyline, seen earlier today
Jennifer Meierhans
Business reporter
Drivers in the UK are continuing to see the impact of conflict in the Middle East at the fuel pump.
Every $10 increase in the oil price pushes up petrol prices by roughly 7p a litre, analysts say.
These changes take about a fortnight to hit but some fuel companies are already starting to put up prices to pre-empt the expected rise in costs.
Unleaded petrol has gone up another penny in the last 24 hours to 139p a litre. And diesel is up another 2p to 155.1p, says the RAC's Simon Williams.
Diesel has gone up by nearly 13p, or 9%, since the war started and is at its highest price since May 2024, he says.
Brent crude, the global benchmark for oil prices, is trading at $89.44 a barrel - more than 20% higher than before the war.
If oil settles at around $90 a barrel and the pound and US dollar stay where they are, average petrol prices could reach around 140p a litre, and diesel around 167p a litre, says the RAC.
Jonathan Josephs
Business reporter
The UK is prepared to support a coordinated release of collective International Energy Agency (IEA) oil reserves, I understand from government sources.
However, any announcement will be left to the IEA.
By Thomas Copeland and Joshua Cheetham
Following confirmation that Thai-flagged container ship Mayuree Naree has been attacked, BBC Verify has learned details from maritime security firm Vanguard about all three vessels hit by unknown projectiles today.
A Japan-flagged container ship called One Majesty has been left with a 10cm (4in) hole after an attack about 29 miles (47km) north of the UAE’s port city of Ras Al Khaimah and is now heading for safe harbour.
The second vessel, a Marshall Islands-flagged bulk carrier called Star Gwyneth, has reported that its crew are all safe after a strike from an unknown source damaged the ship’s hull about 57 miles (92km) north of Dubai.
Vanguard also confirmed Mayuree Naree was about 12 miles (19km) north of Oman when it was struck, causing a fire on board.
Here’s a map of the approximate locations of the incidents, which BBC Verify made by matching details provided by both Vanguard and the UK Maritime Trade Operations (UKMTO) security authority:
Carine Torbey
Arabic correspondent, in Beirut
Image source, ReutersPeople are in absolute shock after an apartment building was struck in the heart of Beirut in the early hours of this morning.
This is a popular neighbourhood where people thought they were safe.
Residents I have spoken to never thought this area would be in danger or targeted in any strikes.
But this is the second time it has happened in less than a week.
Four Iranian diplomats were killed when they were staying in a famous hotel in Beirut and now this apartment here.
There are serious fears and concerns about what comes next and this is just one example of what is happening around Lebanon.
There are large parts of country, in the south and southern suburbs of Beirut, that are relentlessly hit by strikes every single day.
Over 700,000 people have been displaced from their homes by Israeli evacuation orders and are searching for a place to stay.
'This is a nightmare': BBC reports from site of Beirut strike
Simon Jack
Business editor
G7 nations have said they support releasing "strategic reserves" of oil as price volatility continues because of the Iran war.
But where and what is the UK's strategic oil reserve and what difference would releasing it make?
All countries that are members of the International Energy Association (IEA) are required to keep reserves of oil in case of global disruptions - roughly 90 days' worth of supplies.
The oil itself is not in a single geographic location. Producers like Shell and BP keep stocks at terminals and refineries around the UK and can earmark stocks held elsewhere as counting towards their reserves.
When it is released, it does not mean a sudden flood of new oil starts moving, rather producers will make more available in the market for refineries to order.
However, energy analysts have told the BBC that given there is a shortage of refining capacity, the release is not a magic switch to increase the flow of refined products like petrol and jet fuel.
And with roughly 1.2bn barrels in reserve, releasing hundreds of millions is not a card you can play very often.
Saying that you "stand ready" or "agree in principle" to releasing it is a way of generating some assurance in the market without actually using up one of your potential levers.
The releasing of the reserves is more of a confidence or sentiment-boosting signal to reassure markets that governments have recognised the threats and are acting in co-ordination to address them.
In short, it may not see oil prices fall but it may stop them climbing much higher.
Kevin Peachey
Cost of living correspondent
Image source, Getty ImagesAt times of turmoil lenders often pull mortgage products from sale, unsure of how to price them amid the uncertainty.
The Iran war - and its global economic impact - means the cost of borrowing in the UK is likely to be much higher over the coming monthsthan previously expected.
The financial information service Moneyfacts says nearly 500 mortgage deals have been pulled off the shelves in the last two days - the equivalent of 6.5% of the market.
It says this is the most turbulent time for the UK mortgage market since the 2022 mini-budget during the premiership of Liz Truss.
Those people in the UK renewing their mortgage, or shopping around for a new deal, now face average interest rates of more than 5% on both two and five-year deals.
Around 3,000 ships a month would normally pass through the Strait of Hormuz in the Middle East.
It's the world's busiest oil shipping channel - about 20% of the world’s oil is carried through it.
It is deep enough for the biggest crude oil tankers and used by the Middle East’s major oil and gas producers - Iran, Iraq, Kuwait, Qatar, Saudi Arabia and the UAE.
But the war has severely reduced sea traffic through the area, with UK Maritime Trade Operations saying there have been reports of 13 ships attacked since the conflict began.
Oil surged past $100 a barrel on Monday, before Trump said the war was "very complete, pretty much", leading to a fall in the oil price, which is now closer to $90 a barrel - still well above pre-war levels.
The slowdown in movement through the strait has raised concerns because the cost of oil can push up prices for energy, transport and manufacturing.
Read more: Why the price of oil matters more than you might think
Alice Cuddy
Reporting from southern Lebanon
I’m at the scene of an Israeli strike in southern Lebanon, where firefighters are still working to put out a major fire after an explosion.
It comes as the Lebanese health ministry has announced that 570 people have been killed in Lebanon since strikes began on 2 March.
Officials here in Nabatieh el-Faouqa tell me the strike happened at about 09:00 local time (07:00 GMT).
There are no deaths or injuries, with most people from the local community having fled the area following evacuation orders for villages nearby. But officials here said this specific area was not covered by the orders.
A four-storey building was hit, with shops on the ground floor, they say. A supermarket sign can be seen beyond the smoke.
Hussein Fakih, the regional head of civil defence here in Nabatieh, tells me he is currently dealing with "30 to 40 missions a day", including putting out fires and rescuing people trapped under rubble.
Since I’ve been here, I’ve heard the bang of what rescuers say was a drone strike nearby.
One local resident who works as a rescuer, so hasn’t left the area, tells me he "heard the war planes" before the explosion this morning. He adds that he is not afraid even though he believes "things will get worse" here. He says he supports Hezbollah in its war with Israel.
Israel says its air strikes are targeting Hezbollah infrastructure in Lebanon.
Israel has announced it has begun a "wide-scale wave" of strikes against Iran while simultaneously launching attacks against Beirut.
The Israel Defense Forces (IDF) says it is targeting infrastructure belonging to Hezbollah and the Iranian regime.
Image source, Royal Thai NavyThailand's navy says it is providing urgent assistance after a Thai-flagged cargo ship was attacked while sailing through the Strait of Hormuz.
In a statement, the Royal Thai Navy says 23 Thai crew members were aboard.
Oman's navy has rescued 20 crew members and is "in the process of rescuing" the remaining three, the Thai authorities say.
The Thai navy says officials received an initial report of the incident at approximately 11:00, but does not specify the time zone. It says the ship was attacked after departing from Khalifa Port, United Arab Emirates, several hours earlier.
The cause of the attack is still under investigation, the statement says.
Image source, Royal Thai NavyUK Maritime Trade Operations says it has received reports of 13 ships being attacked in the Middle East since the start of the conflict.
It says there have also been four reports of suspicious activity, bringing the total number of incidents affecting ships operating in and around the Arabian Gulf, Strait of Hormuz and Gulf of Oman to 17.
The update comes after reports of three commercial vessels being hit by "unknown projectiles" in the area in separate incidents this morning, with the crew of one ship forced to evacuate after the vessel was struck north of Oman.
