March 2026: Iran, the Strait of Hormuz, and oil woes

Pump-jack mining crude oil (Photo by Zbynek Burival on Unsplash)

This roundup summarises the most important news stories around the world in the last month (March 2026).

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In Iran, Israel and the United States (US) launched a pre-emptive attack and “major combat operations” against the country, killing supreme leader Ali Khamenei in the strikes. The late ayatollah’s son was later named the country’s new supreme leader. However, Israel continued to kill top Iranian leaders. In the initial strikes, in a devastating military error, American forces have been faulted for a deadly missile strike on an elementary school, killing at least 175 people, most of whom were children. Thorough investigations are still underway.

As a result of the war, the Strait of Hormuz was effectively closed off, leading to persistent fluctuations in oil prices, dozens of countries pledging to release barrels of oil, as well as concerns around the world over the long-term implications of higher oil prices. Some talks of ceasefire proposals have been floated, but actual talks and progress have not materialised.

Lebanon was also struck by Israel, leading to hundreds of thousands being displaced and having to shelter in schools and stadiums. Iran-backed militant group Hezbollah retaliated against Israel for the killing of the late ayatollah, and Israel has indicated the likelihood to occupy southern Lebanon after its ground invasion.

In other news…

  • Pakistan proclaimed an “open war” against Afghanistan’s Taliban government. Later, the conflict continued to escalate as a Pakistani airstrike hit a drug rehabilitation centre in Kabul, Afghanistan.
  • US: Meta and YouTube were found guilty of harming a young user with social media design features which were addictive and consequently led to her mental health distress.

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