cnnnews18 Press Monitor: March 14, 2026 — U.S.-Iran strikes, India’s energy crisis, and the Gulf’s economic fallout

Lead: Escalating strikes on Kharg Island

U.S. President Donald Trump authorised precision strikes on Kharg Island in the Persian Gulf on Friday, destroying Iranian naval and oil infrastructure. Iran’s Revolutionary Guard responded with drone attacks on Dubai’s Jebel Ali port and Tel Aviv’s Ben Gurion airport. The Strait of Hormuz remains a flashpoint for global oil supplies.

Regional escalation: U.S. vs Iran

Trump’s warning that ‘Iran will pay a heavy price’ signalled a shift from deterrence to direct action. The U.S. military deployed the USS Nimitz carrier strike group and B-2 Spirit bombers to the Gulf. Iran’s Supreme Leader Ali Khamenei vowed ‘crushing retaliation’ and mobilised the IRGC’s naval assets.

Oil markets in freefall:

• Brent crude surged 18% to $142/bbl as traders priced in a potential blockade of the Strait of Hormuz.

• India’s LPG tanker fleet faced delays after Iranian Revolutionary Guard seized a Greek-flagged vessel near Kolkata.

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