The escalating conflict between the United States and Iran has entered its fourth week, with both sides threatening to strike critical infrastructure, raising fears of wider regional devastation.
International Energy Agency chief Fatih Birol warned the war poses a “major, major threat” to the global economy, surpassing past oil and gas crises.
Tensions intensified after Donald Trump issued a deadline for Iran to reopen the Strait of Hormuz, prompting Tehran to warn it would target regional energy and water facilities if attacked.
Meanwhile, Benjamin Netanyahu said Israel is advancing its war objectives as fighting continues, leaving over 2,000 dead and disrupting global oil supply routes.
With no signs of de-escalation, the conflict has driven oil prices higher, damaged key infrastructure, and heightened concerns over a broader humanitarian and economic crisis.
Source: PhilNews24 | March 24, 2026
