The Iran war could escalate further as President Trump threatens to hit key oil infrastructure if Tehran doesn't drop its chokehold on the Strait of Hormuz.

Meanwhile, videos geolocated by CNN appear to show air defense systems engaging a projectile over the Iraqi capital, around 600 meters from the US Embassy compound in Baghdad. Follow for live updates.

Oil shock from Iran war raises inflation concerns, but Goldman Sachs sees minimal impact on global supply chains outside energy sector.

President says ‘numerous’ nations vow to help protect vessels, while UK and Germany refuse to be drawn into wider war

Cruise lines face rising fuel costs as oil prices surge 35% during the Iran conflict, threatening profits during peak booking season for summer trips.

A small island in the Gulf has become a flashpoint in the widening war involving Iran, the United States and Israel. Kharg Island handles almost all of Iran’s oil exports – making it a vital economic

Fears of a global energy crisis rose Monday as the war in the Middle East raged on, with more U.S.-Israeli strikes on the Iranian capital and Israel’s bombardment of Lebanon. An Iranian drone strike temporarily shut Dubai’s airport, a crucial global travel hub, underscoring the threats to the world economy.