LIVE: Economic fallout from the Iran war ‘won’t be short-lived’

At a meeting of EU energy ministers, the bloc has been warned that the economic damage done by the Iran war won’t be short-lived.

Commissioner Dan Jorgensen told the meeting in Brussels that since the start of the ongoing conflict, prices in the EU have risen by around 70 per cent for gas and 60 per cent for oil.

He added that one month of fighting has added €14bn to the bloc’s fossil fuels import bill.

These numbers paint a very clear picture: as the crisis in the Middle East enters its second month, it is clear that we are facing a very serious situation…  we should be under no illusion that the consequences of this crisis for the energy markets will be short-lived. Because they won’t.’

Here’s all the latest developments on the US-Israel war with Iran:

• Donald Trump told countries including the UK ‘go get your own oil’ as he challenged nations to get supplies straight from the Strait of Hormuz
• Fears are growing the UK faces a jet fuel shortage in days as the ‘last shipment’ from the Middle East arrives in the next 48 hours
• Trump also lashed out at France describing the nation as ‘very unhelpful’ over the Iran war amid claims Emmanuel Macron blocked US planes from French airspace
• The President has reportedly signalled to aides he is willing to leave the Iran war without reopening the Strait of Hormuz
• Pete Hegseth has said the US ‘knows exactly’ what China and Russia are doing amid claims the countries are supporting Iran
• Hegseth told a Pentagon briefing the US would ‘much prefer’ a deal to end the war with Iran’s leadership
• An Iranian drone has stuck a fully loaded Kuwaiti tanker anchored at Dubai port
• Iran’s Revolutionary Guards have claimed an Israeli-owned ship has been struck in the Persian Gulf and US marines have been targeted with drones in the UAE
• Israel’s emergency services say eight people have been injured after an Iranian missile strike in central Israel
• Israeli Prime Minister Benjamin Netanyahu said the war on Iran had achieved more than half its aims without putting a timeline on when it would end
• Italy denied US bombers access to an air base in Sicily last week after pilots apparently failed to ask for permission to land
• China has expressed its ‘gratitude’ after ships pass Strait of Hormuz

Stick with us for the latest developments throughout the day.

The US State Department’s consular affairs branch says it has received reports that hotels and other American gathering points in Saudi Arabia could be targeted on Tuesday.

The US Embassy in the Kingdom’s capital, Riyadh, also warned government employees to find shelter.

Iran has repeatedly threatened educational and business places connected to Americans in the region during the war.

UN Ambassador Danny Danon says Israel blames Hezbollah for all three of the peacekeeper deaths in southern Lebanon.

Two of the peacekeepers were killed yesterday after a roadside explosion, according to an investigation from the UN Interim Forces in Lebanon (UNIFIL).

Danon provided no evidence and a spokesman confirmed that an investigation is ongoing.

Israeli’s military has confirmed its troops were not present at the scene of the explosion on Monday.

The Israel Defence Forces has denied it was responsible for the deaths of two UN peacekeepers in Lebanon.

Since Sunday night, three UN peacekeepers have been killed in southern Lebanon.

Two of these were killed yesterday after a roadside explosion, according to an investigation from the UN Interim Forces in Lebanon (UNIFIL).

In response to the findings tonight, the IDF has said:

No explosive device was placed in the area by IDF troops, and… no IDF troops were present in the area at all.’

It added that it was fighting Hezbollah and ‘not against UNIFIL’, but told the peacekeepers to avoid combat zones or areas where it has said it will strike.

The Lebanese group says its fighters have launched an attack targeting the Beria base north of the city of Safad with a rocket salvo.

The group also said it targeted the Meron base for air surveillance and operations management in northern Israel.

The US president has told NBC that the war with Iran is ‘coming to an end’.

Trump claimed ‘we’re doing great’, saying that he expects the fighting to be wrapped up, but without specifying a timeline.

The Israel Defense Forces said they struck 20 weapons manufacturing sites in Iran over the past day.

The army also said it struck infrastructure in the Islamic Revolutionary Guard Corps’ naval headquarters.

Iran’s Revolutionary Guard has threatened to attack US companies, including some of the biggest tech giants, after accusing them of being involved in ‘terrorist espionage’ operations in Iran.

A statement carried by Iranian state media listed 18 companies whose offices in the Middle East region they claimed would be legitimate targets for Iran starting Wednesday.

Those include Apple, Microsoft, Google, and others.

The Guard has launched missiles and drones at Israel and Gulf Arab countries since the United States and Israel began bombing Iran on February 28.

Earlier this month, Iranian drone strikes caused damage to three Amazon Web Services facilities in the United Arab Emirates and Bahrain.

The US journalist kidnapped in Baghdad was previously warned ‘about threats against them’, the US State Department has said.

Assistant Secretary Dylan Johnson said that the US believed an individual with ties to an Iranian-aligned militia, Kataib Hizballah, was involved in the kidnapping and had been taken into custody.

Johnson said the department was aware of the reported kidnapping and was coordinating with the FBI ‘to ensure their release as quickly as possible’.

He added:

Iraq remains at a Level 4 Travel Advisory and Americans are advised not to travel to Iraq for any reason and to leave Iraq now.’