Global Markets Tumble After U.S. Warns War Could Last Weeks

THE NEW YORK TIMES: Oil and gas prices surged and stock markets fell, after U.S. and Israeli officials signaled that strikes on Iran would intensify. As the conflict widened, Israel’s military stepped up operations against Iran-backed Hezbollah, which fired rockets into Israel.

Global stock markets tumbled on Tuesday and the price of oil surged, as the widening conflict in the Middle East sent a shudder through the world economy and American and Israeli officials signaled that their bombing campaign against Iran could last weeks.

President Trump was set to meet with Chancellor Friedrich Merz of Germany in Washington on Tuesday morning, the president’s first meeting with a foreign leader since the war began, and the two were expected to speak with reporters. The meeting was long planned, but is likely to be dominated by discussions of the attacks on Iran, which continued for a fourth day.

With Iran retaliating for the killing of its supreme leader, the U.S. Embassy in Saudi Arabia warned of imminent drone and rocket attacks in Dhahran, the eastern city that is home to Saudi Aramco, the government-controlled oil producer, threatening to put more pressure on global oil supplies. The embassy itself was hit by a drone attack early Tuesday, a day after a drone struck the U.S. embassy in Kuwait, prompting the United States to announce that it was closing both facilities.

Fighting escalated between Israel and Iran-backed Hezbollah in southern Lebanon. The Israeli military said that it was carrying out additional strikes in Iran, and had targeted weapons storage facilities in Beirut, the Lebanese capital, as Hezbollah said it had fired attack drones at Israel. Israel’s advance in southern Lebanon prompted fears that it could be weighing a wider ground assault similar to the one it launched during its yearlong war with Hezbollah that ended in late 2024. Iran Live Updates » | Aaron Boxerman, Helene Cooper and Yan Zhuang | Tuesday, March 3, 2026

Europe Concerned over Energy Crunch If Russia Cuts Gas Deliveries | DW News

Jul 20, 2022 The EU is concerned that Russia may try to wreak economic and political havoc in Europe in the winter in retaliation for its support of Ukraine. It's now preparing for the possibility Russia will cut gas deliveries completely after sharp reductions.

EU-Kommission will im Notfall Sparzwang für Gas: Das kündigte die Kommission am Mittwoch an. Zunächst sollen die Mitgliedstaaten ihren Verbrauch jedoch freiwillig um 15 Prozent verringern »

Greenland - The World's Newest Frontier

With huge reserves of minerals, oil and gas buried under their icebound nation, Greenland's tiny population may be about to become very rich.

Read the Sunday Telegraph article here | Colin Freeman, Nuuk | Sunday, November 03, 2013

Fracking Could Ruin Ireland Warn Experts
The windswept hills of Ireland are believed to be sitting on a treasure trove of natural gas. One company wants to use a controversial drilling technique - called fracking - to get it out but critics says the process would damage the environment. Al Jazeera's Simon McGregor-Wood reports from Leitrim county in Ireland.

Weißrussland stoppt Gastransit in den Westen
WELT ONLINE: Der Gasstreit eskaliert: Weißrussland will die für Westeuropa wichtigen Transitleitungen für russisches Gas abdrehen.

Weißrussland dreht die Gaspipeline in den Westen zu. Bild: Welt Online
Im Gasstreit mit Russland hat die weißrussische Regierung angeordnet, den Transit von Gas nach Europa zu stoppen. Der autoritäre weißrussische Präsident Alexander Lukaschenko habe die Sperrung der Pipelines verfügt, meldete die Agentur Interfax aus der weißrussischen Hauptstadt Minsk.

Der russische Staatskonzern Gazprom schulde Weißrussland 260 Millionen US-Dollar (rund 212 Millionen Euro) für das Durchleiten von Gas nach Westen, sagte Lukaschenko. Von der Blockade wäre besonders das EU-Mitglied Litauen betroffen, da das baltische Land zu 100 Prozent über diesen Weg versorgt wird. >>> dpa/AFP/dma | Dienstag, 22. Juni 2010