Iran attacked commercial ships across the Persian Gulf and targeted Dubai International Airport, escalating a campaign of squeezing the oil-rich region as global energy concerns mounted.

Iran claims it launched its heaviest operation of the war, firing missiles and drones across the region. Plus, Iran is accused of preparing to lay mines in the Strait of Hormuz, and the U.S. military is responding.

Iran continued retaliatory strikes across the Middle East and threatened to shut down the Strait of Hormuz. President Trump said Monday he would not allow "a terrorist regime to hold the world hostage and attempt to stop the globe's oil supply.

President Trump said Monday that he would ramp up attacks on Iran if the country holds up oil flow in the Strait of Hormuz. “If Iran does anything that stops the flow of Oil within the Strait of Hormuz,

Oil and gas prices fell sharply on Tuesday after US President Donald Trump said that the war in Iran was "very complete, pretty much". Crude almost reached $120 a barrel on Monday over fears that the conflict would cause lengthy disruption to energy supplies from the Middle East,

Oil prices surged Monday to more than $119 per barrel but dropped by more than 10% on Tuesday. Meanwhile, world leaders are eyeing oil reserves as the Iran war continues to disrupt traffic through the Strait of Hormuz.

The price of crude oil has sharply spiked as the Strait of Hormuz has been effectively closed as the United States and Israel wage war on Iran.

After President Trump warned Iran from attempting to block the Strait of Hormuz, at least three ships have reported being struck by projectiles.