Trending Now - Energy Prices Rise Amid Ongoing Us-israel Conflict With Iran

WHO:

President Trump, Israeli leader Benjamin Netanyahu, Iranian Foreign Minister Abbas Araghchi, House Speaker Mike Johnson, Saudi Arabia's top diplomat, QatarEnergy, Japanese Prime Minister Sanae Takaichi.

WHAT:

Iran's Foreign Minister Abbas Araghchi stated that the U.S. Defense Department would seek $200 billion in funding for the Iran war, calling it the "tip of the iceberg."

The first week of the war reportedly cost the U.S. around $11.3 billion.

U.S. crude futures rose above $97 per barrel, natural gas increased by 3%, and Brent crude futures rose to $111.87 per barrel.

Iran launched at least six waves of missiles at Israel, including attacks using cluster bombs.

A cluster bomb killed a Thai agricultural worker in Israel and caused injuries in Tel Aviv.

QatarEnergy reported "extensive damage" to the Pearl GTL facility due to Iranian missile attacks.

WHERE:

The attacks occurred in Israel, specifically in Tel Aviv, Adanim, Jaljulia, and Bayt Awwa.

The Iranian South Pars gas field, shared with Qatar, was targeted.

The Saudi SAMREF refinery in Yanbu and Kuwait's Mina Al-Ahmadi refinery were also attacked.

WHEN:

The war began on February 28th, 2026.

The missile attacks occurred overnight on March 19th, 2026.

President Trump made statements on March 18th, 2026.

WHY:

The conflict escalated due to ongoing U.S.-Israeli military operations against Iran, which Iran retaliated against by targeting energy infrastructure in Gulf states.

HOW:

Iran used missiles and cluster bombs in its attacks on Israel and Gulf states.

President Trump warned that the U.S. would destroy the South Pars gas field if Iran continued its attacks on Qatar.

(UPDATED March 19, 2026 11:12 UTC)

In a significant escalation of the ongoing conflict, Iran's Foreign Minister Abbas Araghchi announced that the U.S. Defense Department is seeking $200 billion in funding for the war, describing the initial costs of around $11.3 billion as just the "tip of the iceberg." Overnight, Iran launched at least six waves of missile attacks on Israel, resulting in casualties, including the death of a Thai agricultural worker in Tel Aviv, while also causing extensive damage to the Pearl GTL facility in Qatar. President Trump warned that the U.S. would destroy the South Pars gas field if Iran continued its aggression against Qatar, as crude oil prices surged above $97 per barrel amid the rising tensions.