A general view of Tehran with smoke visible in the distance after explosions were reported in the city, on March 2, 2026 in Tehran, Iran.
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What you need to know today
The first flights from Dubai were authorized to depart since the United States and Israel attacked Iran, but the service is “limited.” It comes after more than 11,000 flights were canceled in the Middle East.
Oil prices leap after Iran reportedly said it had closed the Strait of Hormuz. Crude oil prices rose more than 8% on Monday as market participants feared the war between the United States and Iran would spiral out of control and cause major supply disruptions.
Apple launched a lower cost model iPhone 17e and a new iPad Air powered by its M4 chip. The products opened a week of product launches on Monday, as Apple begins what appears to be a broader multi-day hardware push.
The S&P 500 ended on monday just above the flat linerecovering from sharp declines the previous day, when investors bought the dip following the US and Israeli attacks on Iran. The Nasdaq Composite rose 0.36%, while the Dow Jones Industrial Average fell 0.15%.
India is feeling the heat As tensions in the Middle East show no signs of coolingand high oil prices are likely to increase the country’s already substantial energy import bill, while disruptions to flight routes hamper airline operations.
Uncertainty grows on US President Donald Trump’s high-risk trip to China after Washington’s strikes against Iran killed Supreme Leader Ayatollah Ali Khamenei. Analysts say those actions could complicate Trump’s high-risk trip to Beijing.
Qatar It stopped the production of liquefied natural gas. due to Iran’s attacks on two key operational facilities, as the Islamic Republic expanded retaliatory attacks against the regional energy infrastructure of its Persian Gulf neighbors.
And finally…
The Strait of Hormuz crisis explained: what it means for global shipping
The escalation of war in the Middle East has raised fears of a prolonged disruption to global trade through key shipping corridors such as the Strait of Hormuz and the Bab el-Mandeb Strait.
Container shipping giants have suspended operations through the strategically vital Strait of Hormuz and diverted ships around the southern tip of Africa, following US and Israeli attacks on Iran over the weekend.
Danish shipping company Maersk said in a statement it would suspend all vessel crossings in the Strait of Hormuz until further notice, warning that services calling at ports in the Persian Gulf may experience delays.
