03/03/26 09:43TSX opens lower as Middle East conflict fuels inflation fears
Canada’s main stock index opened lower on Tuesday, joining a global market slide driven by inflation fears as the Middle East conflict entered its fourth day.
At 9:32 a.m. ET, the S&P/TSX composite index was down 2.26 per cent at 33,682.61 points.
Read the latest updates on the day’s markets.
– Reuters
03/03/26 09:39Russia’s nuclear corporation chief says Iran’s nuclear power plant faces threats
The head of Russia’s state nuclear corporation has said that the Russian-built nuclear power plant in Iran faces growing threats amid the war.
Rosatom head Alexei Likhachev said the plant in Iran’s southern port of Bushehr hasn’t come under attack yet, but explosions have taken place just a few kilometres away from the site as nearby military facilities were targeted by strikes.
Likhachev warned that a hit on the plant’s reactor or reservoirs holding spent fuel could release dangerous radioactivity and contaminate wide areas, causing a “catastrophe on a regional scale.”
Likhachev said that 639 Russian nuclear workers are in Iran. Some of them, who are now in Tehran, are leaving the country, and some of the personnel in Bushehr will be evacuated later.
– The Associated Press
03/03/26 09:29Airline stocks slide as passengers scramble to leave Middle EastOpen this photo in gallery:
Planes are parked at Terminal 3 of the Dubai International Airport, following the United States and Israel strikes on Iran, in United Arab Emirates on Monday.Raghed Waked/Reuters
Airline stocks in Asia and Europe extended losses on Tuesday, with carriers monitoring fuel price spikes and passengers scrambling to find flights or alternative routes out of the Middle East.
Major Gulf hubs including Dubai remained closed for a fourth day, leaving tens of thousands of passengers stranded.
Aviation data firm Cirium said over 19,000 flights to the Middle East have been cancelled since Saturday.
Tourism Economics said the conflict could lead to an 11 per cent to 27 per cent decline in arrivals to the Middle East in 2026.
Shares of Japan Airlines closed down 6.4 per cent, while Korean Air Lines dropped 10.3 per cent, its biggest drop since March 2020. Cathay Pacific shares closed down about 3 per cent.
Shares of major Chinese carriers Air China, China Eastern Airlines and China Southern Airlines all closed down between 2 per cent and 4 per cent in Hong Kong and Shanghai.
In Europe, shares of Wizz Air, British Airways owner IAG, Lufthansa and Air France KLM were down around 5 per cent to 7 per cent.
Shares of U.S. carriers United Airlines, Delta Air Lines, American Airlines and Southwest Airlines were down between 3 per cent and 4 per cent in premarket trading.
– Reuters
03/03/26 09:25Greek shipping minister warns of ‘alarming’ situation in Strait of Hormuz
Greece’s shipping minister on Tuesday called for the protection of global shipping and seafarers, amid an “alarming” situation that has left dozens of ships stranded in the Strait of Hormuz and the wider area.
Traffic through the Strait of Hormuz was closed for a fourth day on Tuesday. An Iranian Revolutionary Guard senior official said on Monday Iran would fire on any ship trying to pass through, Iranian media reported.
Greece is a dominant force in global shipping, controlling one of the world’s largest merchant fleets.
“This is alarming and worrying, and I wish that global shipping was left out of war conflicts,” shipping minister Vassilis Kikilias told Reuters.
He said that at least 10 Greek-flagged ships were in the Gulf and another five outside, their crews including dozens of Greek seafarers. More than 325 ships of Greek interests are in the wider area.
– Reuters
03/03/26 09:18Bunkering at UAE’s Fujairah oil hub slows after fire, demand at other hubs set to riseOpen this photo in gallery:
People stand next to a vehicle as smoke rises in the Fujairah oil industry zone following a fire caused by debris after interception of a drone by air defenses, according to the Fujairah media office in United Arab Emirates on Tuesday.Amr Alfiky/Reuters
Ship refuelling at Fujairah, a major bunkering hub in the United Arab Emirates, has slowed after a fire broke out at the port on Tuesday, market sources told Reuters, while demand at other refuelling hubs including Singapore is set to rise.
Some bunker deliveries and loadings were on hold for now as suppliers, traders and shippers await more clarity on the situation, while others said that bunkering is still possible.
Oil storage firms VTTI and Vopak said in statements on Tuesday that they have temporarily suspended operations at the Fujairah terminal after a fire.
The U.S.-Iran conflict had disrupted fuel shipments in the region, spurring a jump in prices at Fujairah on Monday.
Bunkering continues at the port, but sales were largely stalled after marine fuel offers jumped on Monday on concerns of prolonged supply disruption, Dubai-based market sources said.
Fujairah sits on the east coast of the UAE near the entrance to the Strait of Hormuz.
– Reuters
03/03/26 08:42Israel and U.S. widen scope of strikes in Mideast
The war between Israel and Iran is widening, with Israeli Prime Minister Benjamin Netanyahu on Monday playing down fears of an “endless” war, while also expanding operations across Tehran, Lebanon and the Gulf.
Reuters
03/03/26 08:15Governments scramble to repatriate their citizensOpen this photo in gallery:
People arrive at the International Airport in Frankfurt, Germany, after being evacuated from Dubai on a commercial flight on Tuesday.Michael Probst/The Associated Press
Governments worldwide are scrambling to repatriate their citizens.
The U.S. State Department has evacuated non-emergency personnel and families in six nations, adding the United Arab Emirates to its list Tuesday.
In Italy, the government has assisted with flights to Milan and Rome in the wake of mounting criticism against Defence Minister Guido Crosetto. The minister sparked a political controversy at home after being stuck in Dubai with his family during the initial phase of the U.S.-Israeli attack on Iran.
An estimated 30,000 German tourists remained on cruise ships, in hotels or at closed airports in the Middle East, and the first plane from Dubai to Frankfurt, Germany, was expected to land Tuesday afternoon.
The German government is also seeking to charter planes at taxpayer expense to get vulnerable people — including ill travelers, children and pregnant people — back home.
France is also trying to organize the return of thousands of its people, the country’s foreign affairs minister said Tuesday. An estimated 200,000 French people live in the region affected by the conflict, and authorities believe roughly 25,000 French citizens are currently visiting the area.
Meanwhile, Global Affairs Canada is increasing staff to help Canadians caught up in the Middle East conflict but also urging them to fend for themselves.
“If you are in an affected country, prepare contingency plans that don’t rely on the Government of Canada’s assistance for departure,” Global Affairs said on Monday.
– The Associated Press, with files from Ian Bailey
03/03/26 08:01Trump says U.S. war supplies mean it can fight ‘forever’
U.S. President Donald Trump said the U.S. military has enough stockpiled weapons to fight wars “forever,” as the Republican president and his administration continued their push to justify a broad, open-ended war on Iran with shifting aims and timeline.
In a social media post overnight, Trump said there was a “virtually unlimited supply” of U.S. munitions and that “wars can be fought “forever,” and very successfully, using just these supplies.”
“The United States is stocked, and ready to WIN, BIG!!!” he wrote.
Trump earlier on Monday offered no details on how long the campaign against Tehran would last, but said it had been projected to last four to five weeks.
“We’re already substantially ahead of our time projections. But whatever the time is, it’s OK. Whatever it takes,” he said in his first public event since the conflict began, speaking briefly about the war ahead of a Medal of Honor ceremony at the White House.
Trump has not given a televised address to the nation, as is customary at times of military action.
– Reuters
03/03/26 07:40Gold falls 4% as strong dollar and higher rate bets undercut safe-haven demand
Spot gold prices fell on Tuesday, sliding more than 4 per cent at one point, as some investors favoured the dollar rather than gold as a safe-haven from the impact of the U.S.-Israeli air war on Iran, and as traders trimmed rate-cut bets given inflation concerns.
Spot gold was down 3.3 per cent at $5,150.89 an ounce by 11:56 a.m. GMT (6:56 a.m. ET), after falling to its lowest since Feb. 20 earlier. U.S. gold futures for April delivery lost 2.8 per cent to $5,161.50. “The dollar is absolutely roaring away, as are U.S. Treasuries, and that’s providing a strong headwind to gold and particularly silver,” said independent analyst Ross Norman.
Spot silver fell 9.1 per cent to $81.31 an ounce after climbing to a more than four-week high on Monday.
The U.S. dollar rose 0.9 per cent to a more than one-month high, while U.S. Treasury yields shot higher.
A stronger U.S. currency typically makes dollar-denominated gold more expensive for buyers using other currencies, and higher yields raise the opportunity cost of holding the non-yielding metal.
– Reuters
03/03/26 07:25Drone hits Oman’s largest port, no casualties
A drone struck Oman’s largest port of Salalah on Tuesday, authorities said.
The government media office also said two drones were shot down in the southwestern province of Dhofar.
The attacks left no casualties or damage in both Salalah and Dhofar, it said.
– The Associated Press
03/03/26 07:21Thousands of Syrians leave Lebanon to flee Israeli strikesOpen this photo in gallery:
Displaced families gather in Martyrs’ Square after fleeing Israeli air strikes in Dahiyeh, a southern suburb of Beirut, Lebanon on Monday.Bilal Hussein/The Associated Press
Thousands of Syrians have crossed from Lebanon into Syria to flee Israeli strikes over the past two days as Israel and the Iran-allied Lebanese militant group Hezbollah escalated their attacks against each other.
The U.N. refugee agency UNHCR said in a statement that around 3,900 to 4,400 people would typically cross from Lebanon into Syria during Ramadan. On Monday, after Hezbollah launched missiles toward Israel and Israel retaliated with bombarding Lebanon, a total of 10,629 people crossed, the vast majority of them Syrian.
Azzam Sweiri, a Syrian farm worker who had been working in southern Lebanon, crossed back into Syria Tuesday.
“The streets were packed with cars and people” as he fled, he said. “It took us 10 or 12 hours just to make it 30 or 40 kilometres.”
– The Associated Press
03/03/26 06:47Wall Street futures fall as Middle East conflict stokes inflation worries
The Nasdaq led losses among U.S. stock index futures with a 2.3-per-cent drop on Tuesday as investors assessed the fallout of U.S. and Israeli strikes on Iran on inflation and global trade.
Tehran’s threat to attack any vessel attempting to transit the Strait of Hormuz, combined with production halts by several Middle Eastern oil and gas producers, has driven global shipping rates higher and pushed up crude and natural gas prices.
Industries such as airlines and travel that are exposed to crude prices were knocked back for a second day. Delta and Royal Caribbean fell about 4 per cent each.
“Much will depend on the price of oil,” said a group of strategists led by Deutsche Bank’s Jim Reid. “Any sustained spike would undoubtedly trigger a more meaningful risk-off move.”
Technology stocks such as Nvidia and Microsoft were down 3.1 per cent and 1.8 per cent, respectively, after gaining in the previous session. Nasdaq-listed memory names such as Sandisk slumped 8.4 per cent and Western Digital lost 5.6 per cent, also cooling off from a strong rally in February.
Investors were worried that higher oil prices could stoke inflation across the broader economy and further complicate policy decisions for central bank officials already contending with price increases driven by tariffs.
– Reuters
03/03/26 06:42Ryanair prioritizing repatriating its customers in Jordan, CEO saysOpen this photo in gallery:
Ryanair’s Chief Executive Michael O’Leary said the airline is prioritizing repatriating its customers who are stranded in Jordan.Francois Lenoir/Reuters
Ryanair’s priority is repatriating its customers from Jordan and it does not have much spare capacity to help with other repatriations, but will try to help where possible, Chief Executive Michael O’Leary said on Tuesday.
“Certainly wherever we can help with repatriations, we would try to be helpful,” he told a news conference in Warsaw. “But our focus is our customers who are currently stranded in Jordan.”
– Reuters
03/03/26 06:37Italy arranges flights to bring home stranded citizensOpen this photo in gallery:
Italy’s Defence Minister Guido Crosetto said that he was making his way back to Italy after being stranded in Dubai as Iran launched strikes in retaliation against US and Israeli attacks.NICOLAS TUCAT/AFP/Getty Images
The Italian government said Tuesday it is working “non-stop” to assist Italian citizens stranded in the Middle East.
Italy scheduled two flights including one from Muscat, Oman, to Rome’s Fiumicino airport Tuesday to carry around 300 people and another from Abu Dhabi to Milan to carry about 200 people, mostly young students.
Another two flights are set to depart from Abu Dhabi to Milan and Rome in the early afternoon Tuesday, while an additional flight from Muscat has been scheduled for Wednesday.
Italy’s Defense Minister Guido Crosetto sparked a political controversy at home after being stranded in Dubai with his family during the initial phase of the U.S.-Israeli attack on Iran, returning to Rome on Sunday on a military aircraft.
The left-wing opposition called for Crosetto’s resignation, stressing the minister travelled alone to an area of crisis without being informed of the deteriorating situation. Premier Giorgia Meloni defended the minister on Monday, saying he never stopped doing his job.
– The Associated Press
03/03/26 06:32U.K. yet to decide on sending warship to defend Cyprus baseOpen this photo in gallery:
An aircraft prepares to land in RAF Akrotiri, a British sovereign base in Cyprus that was hit by a drone early Monday, causing limited damage.Yiannis Kourtoglou/Reuters
Britain has yet to decide whether it will send a warship to defend its Royal Air Force Akrotiri base in Cyprus, a source close to the matter said on Tuesday after the Times newspaper reported ministers had discussed such a deployment.
An Iranian-made drone strike hit a runway at the Akrotiri base in the early hours of Monday. Britain has said UK assets were targeted by Iran.
The Times report, citing three sources, said defence minister John Healey had a meeting on Tuesday with senior military figures, in which they discussed sending HMS Duncan to the region.
The Ministry of Defence did not immediately respond to a request for comment on the report.
– Reuters
03/03/26 06:26Ukraine, UAE agreed to work together, Zelensky says
Ukrainian President Volodymyr Zelensky said Tuesday that he has offered to help the United Arab Emirates protect itself against Iranian aerial attacks.
Ukraine has built significant expertise in countering Iranian-designed Shahed drones that Russia has launched almost daily at Ukrainian targets since Moscow’s invasion more than four years ago.
Zelensky said on X that he spoke by phone with the United Arab Emirates president, Sheikh Mohamed bin Zayed Al Nahyan, and “discussed how we can help” protect lives in the UAE.
– The Associated Press
03/03/26 06:14Escalating energy prices send stock prices down in Europe
– Eric Reguly
A display board shows the current prices of fuel at a gas station in Frankfurt, Germany on Tuesday.Timm Reichert/Reuters
Oil prices rose again Tuesday morning, on the fourth day of U.S. and Israeli attacks on Iran and ever-widening Iranian strikes in the Persian Gulf region. But gas prices far outpaced them.
In London trading, Brent crude was up 5.6 per cent, to US$82 a barrel, extending the two-day rise to more than 10 per cent and lifting the 12-month gain to almost 15 per cent. Gas prices blew through the roof. The European price, known as TTF, the benchmark for gas traded at the Netherlands hub, was up some 30 per cent in the morning after gaining almost 50 per cent the day before.
The escalating energy prices – with no sign the war will end soon – sent stock prices down in Europe again on Tuesday, though at a quicker pace than the previous day. Investors seem have have lost confidence that the conflict will be resolved quickly.
In London, the FTSE 100 index was down by 2.5 per cent in mid-morning trading in spite of its heavy weighting in oil and gas shares, which climbed.
Germany’s DAX was down 3.3 per cent. The DAX is stuffed with energy-intensive industrial companies, among them Mercedes, Porsche and Siemens, whose profit margins could get squeezed by rising oil and gas costs.
European government bond prices also sold off, boosting their yields. In Germany, benchmark two-year Bund yield’s were 0.1 percentage points higher, at 2.16 per cent, adding to a 0.08 percentage point rise on Monday.
The rising energy prices are a direct result of the effective closure of the Strait of Hormuz, the narrow channel – 33 kms across at its narrowest point – that separates the Persian Gulf from the Gulf of Oman and the Indian Ocean. Normally, one-fifth or more of the world’s oil and gas, in the form of liquefied natural gas (LNG), passes through the strait, then on to Asian and European markets.
Read more about why investors fear a drawn-out Iran war.
03/03/26 05:58Hezbollah official says group will fight ‘open war’ with Israel
A senior Hezbollah official says that after more than a year of abiding by the ceasefire as Israel’s strikes continued on Lebanon, the group’s patience has ended, leaving it with no option “but to return to resistance” and fight an open war with Israel.
Mohamoud Komati said Tuesday that Hezbollah exercised patience since a ceasefire ended the Israel-Hezbollah war in November 2024, hoping the government’s diplomatic efforts would yield positive results in ending Israeli strikes.
In the comments released by Hezbollah’s media office, Komati blasted the Lebanese government for calling Hezbollah’s actions illegal and demanded it hand over its weapons, saying it did not act to stop Israel’s airstrikes that continued on almost daily basis for nearly 15 months.
“The Zionist enemy wanted an open war, which it has not stopped since the ceasefire agreement,” Komati said. “So let it be an open war.”
– The Associated Press
03/03/26 05:46UN urges investigation into ‘horrific’ attack on Iran schoolOpen this photo in gallery:
Residents and officials attend the funeral of people killed in what Iranian officials said was an Israeli-U.S. strike on a girls’ elementary school in Minab, Iran on Tuesday.Abbas Zakeri/The Associated Press
The U.N. human rights office urged the “forces” behind an attack on a girls’ school in Iran to investigate and share insights into the “horrific” incident, without naming them.
“The High Commissioner (Volker Turk) calls for a prompt, impartial and thorough investigation into the circumstances of the attack. The onus is on the forces that carried out the attack to investigate it,” U.N. human rights office spokesperson Ravina Shamdasani told a Geneva press briefing, describing the incident as “horrific”.
Iranian state media reported 165 people were killed on the first day of the U.S. and Israeli attacks on Iran.
On Tuesday, thousands of people in the southern city of Minab held a mass funeral ceremony for those killed.
U.S. Central Command spokesperson Capt. Tim Hawkins said he was aware of reports that a girls’ school was struck and officials were looking into them.
An Israeli military spokesperson said Sunday he was not aware of any Israeli or U.S. strikes in the area.
– Reuters and The Associated Press
03/03/26 05:14At least 30,000 displaced people in shelters in Lebanon
At least 30,000 displaced people have sought protection in shelters in Lebanon since hostilities between Israel and Hezbollah began on Monday, the United Nations refugee agency said on Tuesday.
“Conservative estimates suggest that nearly 30,000 people were hosted and registered at collective shelters,” said UNHCR spokesperson Babar Baloch.
“Many more slept in their cars on the side of roads or were still stuck in traffic jams on the roads,” he added.
– Reuters
03/03/26 04:49Airfares soar as Gulf airport closures ripple across world
The price of flights between Asia and Europe has soared after the closure of key Middle Eastern hubs due to the U.S.-Israel war against Iran, with airline websites showing tickets on many popular routes booked solid for days.
Reuters
03/03/26 04:28France to dispatch warship to Cyprus
Cypriot officials say France will dispatch a warship to Cyprus to help bolster the country’s anti-drone defenses after a Rashed drone struck a British military base on the east Mediterranean island.
France also will send additional land-based, anti-drone and anti-missile systems to the country, officials confirmed Tuesday.
Germany also responded positively to a request to send a warship, according to three officials who spoke on condition of anonymity because they were not permitted to provide details publicly.
The equipment will arrive in Cyprus as soon as possible, they said
The French military did not respond immediately to a request for information from The Associated Press.
The drone struck the British base, RAF Akrotiri, shortly after midnight Monday and caused only minor material damage to an aircraft hangar. Another two drones were intercepted by British warplanes around midday Monday after they were scrambled from the air base, officials said.
Greece has sent four F-16 fighter jets to Cyprus while two of its state-of-the-art frigates are on their way.
– The Associated Press
03/03/26 04:15China urges Iran to reopen Strait of Hormuz
-James Griffiths
Birds fly near a boat in the Strait of Hormuz amid the U.S.-Israeli conflict with Iran, as seen from Musandam, Oman on Monday.Amr Alfiky/Reuters
Beijing on Tuesday urged Iran to reopen the Strait of Hormuz, after senior figures within the Islamic Revolutionary Guard vowed to attack any ships passing through the vital shipping lane.
Some 20 per cent of the world’s oil supply, as well as large amounts of liquefied natural gas, passes through the Strait from the Persian Gulf to the Arabian Sea. Speaking to reporters in the Chinese capital, foreign ministry spokeswoman Mao Ning said “energy security is crucial to the world economy, and all parties have the responsibility to ensure a stable and unimpeded energy supply.”
“China urges all parties to immediately cease military actions, prevent the escalation of tensions, safeguard the safety of shipping lanes in the Strait of Hormuz, and avoid further impacts on the global economy,” Ms. Mao said. “All parties should ensure a stable and unimpeded energy supply. China will take necessary measures to safeguard its own energy security.”
Prior to this weekend’s war, China was a major purchaser of heavily sanctioned Iranian oil, and while the country has large stockpiles and has preparing for such disruptions, the loss of this supply is likely to have knock-on effects for oil demand, sending already spiking prices ever higher.
“Beijing has spent years diversifying suppliers and building strategic reserves for moments like this and can absorb a temporary loss of Iranian crude without triggering physical shortages at home,” said Craig Singleton, senior China fellow at the Washington D.C.-based think tank Foundation for Defense of Democracies. But he noted Beijing will be wary of a “systemic risk to Gulf shipping lanes” that could weigh on the export-led Chinese economy, which is still recovering from the shock of U.S. President Donald Trump’s trade war.
China was once positioning itself to be a major new player in the Middle East, but the chaos unleashed by the October 7 attacks and now the war in Iran shows how “China has once again been relegated to the superpower sidelines,” Mr. Singleton said in an email.
“Beijing’s response has been predictably restrained, underscoring China’s limited ability to shape events once hard power is in motion. Beijing can signal unease; however, it cannot meaningfully deter or influence U.S.-Israeli military action. For China, this episode is further confirmation that soft power buys access, but hard power decides outcomes,” he added.
“China has influence, capital, and access, but the latest events keep underscoring a tougher reality for Beijing: access does not equal control, and presence does not guarantee protection.”
03/03/26 03:31Israel says Iran’s firepower significantly limitedOpen this photo in gallery:
This partially redacted image from video provided by U.S. Central Command shows a military vehicle in Iran shortly before it was struck by a missile fired by U.S. forces on Sunday, March 1, 2026.The Associated Press
Israel’s army said Tuesday that Iran’s firepower has been weakened.
Army spokesman Lt. Col. Nadav Shoshani said Israeli and U.S. attacks on Iran have “limited significantly” Iran’s ability to fire.
Shoshani said Israel has been going after Iran’s missile launchers and have taken out dozens of them.
Iran has fired hundreds of missiles but it’s hard to tally the total amount with Iran also striking other countries, he said.
The pace of missiles being launched at Israel has slowed since the first two days of the war.
Shoshani said the slowdown also could be partly attributed to Iran understanding the war could go on for longer than they had thought and they are trying to pace themselves.
– The Associated Press
03/03/26 03:02Oil rises as expanding war heightens supply risks
Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region.
Brent crude futures were at $80.89 a barrel, up $3.15, or 4.1%, by 0745 GMT. On Monday, the contract surged to as high as $82.37, its highest since January 2025, though it pared those gains to settle 6.7% higher.
U.S. West Texas Intermediate crude climbed $2.55, or 3.6%, to $73.78 a barrel. In the previous session, the contract initially climbed to its highest since June 2025 before sliding back to settle up 6.3%.
“With no quick de-escalation in sight, the Strait of Hormuz effectively closed and Iran showing a willingness to target energy infrastructure in the region, upside risks remain and they grow the longer the conflict drags on,” Tony Sycamore, IG market analyst, said in a note.
– Reuters
03/03/26 02:17Israeli soldiers operating in southern Lebanon, military says
The Israeli military said soldiers are “operating in southern Lebanon” as it continues strikes against Hezbollah.
In a statement, it said the troops are positioned at several points near the border in what it described as a “forward defense posture” as it battles Hezbollah militants.
It said the deployment is part of a broader effort to increase security for residents in northern Israel near the border with Lebanon. It has also beefed up troops and air defenses in the area.
The army said there are no plans to evacuate Israeli residents of border areas.
The conflict, which started with Israeli and U.S. airstrikes on Iran on Saturday, has spread to Lebanon, where the Iranian-supported militant group Hezbollah fired missiles at Israel on Monday, prompting Israel to retaliate.
At least 52 people have been killed and 154 wounded so far, according to Lebanese authorities.
Israel hit Beirut with more airstrikes early Tuesday morning, saying it was targeting “Hezbollah command centers and weapons storage facilities.”
Hezbollah also said it launched drones targeting an Israeli air base. The Israeli military said it downed two drones.
An Iranian-linked militant in Iraq has also claimed strikes on U.S. military facilities there.
– The Associated Press
03/03/26 02:13France says it will work with China on de-esclatating Iran war
French Foreign Minister Jean-Noel Barrot held a call on Monday with his Chinese counterpart Wang Yi to discuss the Iran war and both agreed to work on de-escalation, Barrot’s office said in a statement.
Both ministers committed to seeking a political solution that would guarantee collective security and take into account the aspirations of the Iranian people, the statement said.
Barrot “reiterated the Iranian regime’s responsibility for the ongoing escalation, after it unjustifiably attacked several countries in the region,” the statement said.
He also criticized the Iranian regime for refusing to respect the resolutions from the United Nations’ Security Council on the nuclear programmes, ballistic activities, support to non-state armed groups and rejecting good-faith multilateral negotiations.
The French minister reiterated that France was not involved in the actions by the United States and Israel and had no prior knowledge of them. Countries “must give precedence to international institutions to solve disputes and, where needed, the use of force,” he added.
The two ministers agreed to keep dialogue open on the issue.
– Reuters
03/03/26 02:04India reduces gas supply to industries after Qatar outage
Indian companies on Tuesday reduced natural gas supplies to industries in anticipation of tighter supply from the Middle East after top producer Qatar halted production, four industry sources with knowledge of the matter said.
The sources declined to be named because they were not authorised to speak to the media.
Qatar halted its liquefied natural gas production on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and U.S. strikes against it. The attacks have also halted oil and gas shipments through the Strait of Hormuz, driving up global energy prices and shipping costs.
India, the world’s fourth largest buyer of LNG, relies heavily on the Middle East for its imports.
– Reuters
03/03/26 01:47U.S. closes embassies in Kuwait, Saudi ArabiaOpen this photo in gallery:
Smoke rises from an area surrounding U.S. Embassy in Bayan, Kuwait, Monday.VIDEO OBTAINED BY REUTERS/Reuters
The U.S. Embassy in Kuwait is shutting down as the Middle East descends into a widening war.
The embassy said in a social media post Tuesday that it is closing “until further notice” due to the war.
Earlier Tuesday, Iran struck the U.S. Embassy in Saudi Arabia’s capital prompting the mission to close Tuesday.
The attack from two drones on the U.S. Embassy in Riyadh caused a “limited fire” and minor damage, according to Saudi Arabia’s Defense Ministry, and the embassy urged Americans to avoid the compound. It followed an attack on the U.S. Embassy in Kuwait on Monday and the friendly fire downing of three U.S. fighter jets.
The U.S. State Department urged U.S. citizens to leave more than a dozen Middle Eastern countries due to safety risks, as have many other countries, though with much of the airspace closed many remain stranded.
The U.S. military has confirmed six deaths of American service members. All six were Army soldiers in a logistics unit in Kuwait, according to a U.S. official who was not authorized to comment publicly and spoke on condition of anonymity.
– Reuters and The Associated Press
03/03/26 01:16Germany’s Merz heads to Washington against backdrop of Iran strikes
U.S. President Donald Trump plays host to German Chancellor Friedrich Merz at the White House on Tuesday for talks on sensitive topics ranging from U.S.-Israeli strikes on Iran to Trump’s new tariff threats.
Merz, fresh off the heels of a visit with Chinese President Xi Jinping, will work to maintain the positive relationship he has forged with Trump over the past year. But that will require delicate diplomacy given European concerns over the legality of the Iran strikes under international law, and deep worries over Trump’s threat to pile fresh tariffs on global goods.
He will be the first European leader to visit Washington in the aftermath of the Iran attacks – which have blocked one of the world’s key oil shipping lanes and thrown global air transport into chaos – and the Supreme Court’s ruling on February 20 that Trump’s emergency tariffs are illegal.
Initially expected to focus on trade, the discussions will likely be dominated by the U.S.-Israeli attack over the weekend.
On Sunday, Merz expressed no criticism of the U.S. airstrikes but stopped short of endorsing an operation.
“We recognize the dilemma,” he said, explaining that repeated attempts over past decades had not put Iran off trying to acquire nuclear weapons or oppressing its own people. “So we’re not going to be lecturing our partners on their military strikes against Iran.”
– Reuters
03/03/26 00:18Canada’s defence minister defends Ottawa’s backing of air strikes
-Steven Chase
Iran’s Supreme Leader Ayatollah Ali Khamenei was killed during the initial U.S. and Israeli strikes on Iran.Akhtar Soomro/Reuters
Iran’s deceased leader Ayatollah Ali Khamenei was “a force for evil,” Defence Minister David McGuinty said Tuesday as he defended the Liberal government’s decision to back U.S. and Israeli air strikes on Iran.
Mr. Khamenei, 86, was killed in U.S.-Israeli attacks on Iran Saturday.
Prime Minister Carney’s government issued a strong statement in support of the Saturday attacks only hours after air strikes began, saying Tehran is the main source of instability in the Middle East and must never be allowed to possess nuclear weapons.
Speaking to reporters in Sydney during Prime Minister Mark Carney’s visit to Australia, Mr. McGuinty said Canada’s position toward Iran has been toughening for years.
In 2012, former prime minister Stephen Harper cut off formal diplomatic ties with Tehran and shuttered its embassy there. Justin Trudeau became a vocal and persistent critic of Iran’s 2020 shooting down of a jet filled with Canadian citizens and residents and its failure to account for its actions.
“The government of Canada has been very clear about its position on Iran for some time,” Mr. McGuinty said, noting in 2024 Ottawa designated the Islamic Revolutionary Guard Corps as a terrorist entity. He said Canada has been “following very carefully the kinds of human rights abuses, the terror inflicted upon the population in Iran, the suffering of women, in particular in Iran.”
Mr. McGuinty said Canada is well aware of Tehran’s support for terror groups. “We know where funding and financing has been coming from. We know the extent of the involvement of the Iranian regime in, for example, organized criminal syndicates.”
At the same time Mr. McGuinty was careful to distance Canada from the military operations in the Middle East, saying Canada’s armed forces “were not involved in the preparation, nor the execution of that particular decision by the Israelis and the Americans to attack.”
03/02/26 23:28Israeli air strikes hit Beirut after Hezbollah targets air base
Israeli airstrikes hit the Lebanese capital Tuesday morning.
The Israeli military said it was targeting “Hezbollah command centers and weapons storage facilities in Beirut.”
Hezbollah also said it launched drones targeting an Israeli air base.
– The Associated Press
03/02/26 22:53Netanyahu claims Iran was rebuilding to make ‘atomic bomb program immune’
Israeli Prime Minister Benjamin Netanyahu is defending the decision to go to war with Iran alongside the United States.
Netanyahu, speaking on Fox News Channel’s Hannity, contended that Iran was rebuilding “new sites, new places” that would make “their ballistic missile program and their atomic bomb program immune within months.”
He did not offer evidence to support his claim.
Satellite photos analyzed by The Associated Press showed limited activity at two nuclear sites in Iran before the war, with analysts saying it was likely Tehran was trying to assess damage from American strikes in June and possibly salvage what remained there.
“We had to take the action now and we did,” Netanyahu said. “Otherwise the Iranian mass murder regime would have immunity from future action.”
Echoing a Trump administration point, he repeated that the war would create the conditions for the Iranian people to form a democratic government.
However, there’s been no sign of any mass uprising against Iran’s theocracy since the war started.
– The Associated Press
03/02/26 21:55Satellite imagery shows apparent attack on Iranian nuclear site: reportOpen this photo in gallery:
This composite image shows an overview of Iran’s Natanz nuclear complex on Sunday (top) and Monday (bottom) with damage observed on several buildings.-/Getty Images
Commercial satellite imagery has captured what appear to be the first known strikes on an Iranian nuclear site since the start of the U.S.-Israeli air operation, an independent policy institute said Monday.
The Institute for Science and International Security said imagery produced by Colorado-based Vantor showed two strikes on access points to the underground uranium enrichment plant at Natanz, which was hit by the United States in June, 2025.
David Albright, a former UN nuclear inspector and founder of the institute, said the strikes appeared to have occurred between Sunday afternoon and Monday morning local time, based on the satellite imagery his group reviewed.
He could not identify which military hit the Natanz complex, one of the main facilities of Iran’s nuclear program.
Albright’s findings appeared to corroborate an earlier statement by Reza Najafi, Iran’s envoy to the International Atomic Energy Agency, that Natanz was hit Sunday.
– Reuters
03/02/26 21:39Gold and oil on the rise again
Gold prices rose for a fifth consecutive session early Tuesday, as investors sought safe havens amid the escalating U.S.-Israel-Iran conflict.
Spot gold was up 1 per cent at US$5,377.21 an ounce, as of 1:22 a.m. GMT (8:22 p.m. ET Monday). In the previous session, bullion climbed to its highest point in more than four weeks.
The U.S. dollar hovered close to a more than five-week high reached on Monday, supported by firm demand and cautious market sentiment.
Spot silver rose 1.4 per cent to US$90.67 an ounce on Tuesday.
Meanwhile, oil prices rose for a third day as the widening conflict and threats to shipping through the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region.
Brent crude futures were at US$78.83 a barrel, up US$1.10, or 1.4 per cent, by 1:07 a.m. GMT (8:07 p.m. ET).U.S. West Texas Intermediate crude jumped 74 US cents, or 1 per cent, to US$71.97 a barrel.
– Reuters
03/02/26 20:33Canadians may pay more for gas, but oil glut could curb war-driven price hikes
– Mariya Postelnyak
The price of regular gas across Canadian provinces hovered at around $1.43 on average Monday.Chris Young/The Canadian Press
Canadians could pay as much as six cents more a litre at the gas pumps this week after the United States and Israel launched strikes on Iran, though an oversupply of oil will likely provide a buffer from the worst price shocks, analysts say.
While Canada is a net exporter of energy, growing tensions across the Middle East are hitting commodity markets and hiking the price of heavy crude, the raw material refined to create gasoline and diesel.
The price of regular gas across Canadian provinces hovered at around $1.43 on average Monday, according to data from En-Pro, up roughly four cents from the previous week.
Still, “with respect to what we paid a year ago,” the prices are “fairly low,” said Normand Mousseau, scientific director of the Trottier Energy Institute at Polytechnique Montréal.
But that’s the view for the short term. If the Middle East conflict continues well into the spring, experts say, consumers should expect higher prices for other goods and services, and gas as well.
03/02/26 19:50Gulf states say they will retaliate if Iran continues attacks
– Melanie Swan
Smoke billows from Saudi Aramco’s Ras Tanura oil refinery in Saudi Arabia after a reported Iranian drone strike on Monday.Stringer/Reuters
The Gulf Cooperation Council states have warned that they will take “all necessary measures” to counter Iranian aggression as drone and missile attacks continue to hit the tiny countries, increasing the risk of an all-out regional war in the Persian Gulf.
On Monday, a joint statement from the body, which represents Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain and Oman, said they will do whatever they must to defend their security and territories, reserving the right to respond to what they described as “heinous” and “treacherous Iranian attacks.”
The countries, located across the narrow Persian Gulf waters from Iran, had previously said they would not allow their territories to be used for attacks against Iran.
Home to millions of expatriates from all over the world, they value their reputations as havens of stability in a turbulent region and have so far held back from attacking Iran. But as the U.S.-Iran-Israel war continues, and Iran strikes at critical infrastructure and energy-export facilities in the Gulf states, they risk entering the conflict.
03/02/26 19:32How the Iran war could affect your wallet
From shuttered airports to rising oil prices and volatile stock markets, the global economy is feeling ripple effects after the U.S. and Israel launched strikes on Iran, and Iran retaliated on targets across the Middle East.
Here are the main ways the recent military conflict – and the risk of a prolonged standoff – could affect Canadian consumers and investors.
Read the full story about how the Iran war could affect your wallet.
03/02/26 19:24Canadian stuck in Dubai calls on Ottawa to do more
– Jill Mahoney
Airspace closings upended Omer Khan’s plans to fly home from Dubai to Toronto. He hasn’t seen his wife and three young children since mid-January.
Khan arrived at the Dubai airport for his flight early Sunday, but was instead greeted by chaos as the facility was being evacuated. He hasn’t been able to reach Emirates since to rebook his flight.
A Canadian citizen who grew up in Saudi Arabia, Khan said he registered with Global Affairs Canada and was “a little bit surprised” the federal government is not helping Canadians leave the region. He called on Ottawa to prepare evacuation plans if commercial flights do not resume soon.
“I do hope that if it comes to that, they’re able to assist me more,” said Khan, a 40-year-old banker. “They definitely should have a contingency plan if things escalate.”
Read more about flight cancellations and airspace closings.
03/02/26 17:50Analysis: Trump’s promises to avoid foreign wars meet the reality of office
– David Shribman
Trump speaks during a ceremony at the White House on Monday.Andrew Harnik/Getty Images
So much for that Nobel Peace Prize.
Unless, of course, the following argument – being mobilized by the Trump administration – starts gaining traction: that it is Donald Trump’s two military operations against Iran that will secure the regional and global peace for which the world has yearned.
The President, who has never done any military service, has taken pains to portray himself as something of a modern-day peacenik. He opposed George W. Bush’s war in Iraq, portrayed Barack Obama as trigger-happy in his willingness to launch hostilities against Libya, and ran for president three times as an anti-war candidate.
He abandoned the Mahatma Gandhi persona over the weekend and by Monday was speaking in the argot of General George S. Patton.
Speaking at the White House, the President said American air strikes were “destroying Iran’s missile capability, and we’re doing that hourly.” He said U.S. forces were “annihilating their navy,” adding that the goal was to assure that Iran’s “sick and sinister regime” wouldn’t be able to obtain nuclear weapons or spread terror in the Middle East.
Read the full analysis of Trump’s actions in Iran here.
03/02/26 15:17Are you a Canadian traveller affected by what’s happening in the Middle East?
Are you a tourist or business traveller whose plans have been affected by the conflict in the Middle East? Have you been dealing with travel delays or suspended flights? Share your story below for a future Globe story, or e-mail audience@globeandmail.com. If you’d like to submit a photo, use this link.
Have your travel plans been impacted by the Middle East war?
Are you a tourist or business traveller whose plans have been affected by the conflict in the Middle East? Have you been dealing with travel delays and suspended flights? Share your story below.