CHINA FOREIGN MINISTRY, ON WATER PLANTS AND NUCLEAR REACTOR ATTACKED IN WAR: CHINA FIRMLY OPPOSES ARMED ATTACK ON NUCLEAR FACILITIES

US crude settled above $100 a barrel for the first time since 2022, with West Texas Intermediate rising over 3% to $102.88, the highest since July 2022. Global benchmark Brent is on track for a record percentage gain in March. Prices have surged as the war involving the US, Israel and Iran disrupts markets and halts shipments through the Strait of Hormuz, raising concerns over higher inflation and slower economic growth.

Israel Defense Forces has been ordered by political leaders to pivot toward striking Iran’s economic assets as it nears completion of initial war objectives, according to The Times of Israel. After conducting hundreds of strikes and dropping over 13,000 bombs on military and nuclear-related sites, officials say Iran’s weapons production capacity has been severely degraded. New targets include gas infrastructure and major steel plants, aimed at inflicting economic damage. The U.S., led by Donald Trump, continues to lead efforts on Iran’s nuclear program and the reopening of the Strait of Hormuz.