The conflict between the U.S., Israel, and Iran has entered its fourth day, driving oil and gas prices higher and forcing the world to adapt to a confrontation that former U.S. President Donald Trump suggested could last for weeks.

On Tuesday, Israel launched a new round of airstrikes targeting Tehran, hitting a building in the city of Qom where Iranian religious figures had reportedly gathered to select a successor to the late Supreme Leader Khamenei, who was killed in an earlier strike. Iran's semi-official Mehr news agency confirmed the building was struck but insisted it was unoccupied at the time.

Iran launched a new wave of missiles toward several countries hosting U.S. military bases, including Qatar, Bahrain, and Oman. Authorities in Doha indicated the targets were not limited to military installations. Qatar and Iraq have halted production at major energy facilities, heightening concerns over global supply and prices.

The Strait of Hormuz, a critical passage for oil tankers, is now nearly closed.

In a social media post, Trump suggested U.S. operations would not slow. He previously stated that the objectives included preventing Iran from obtaining nuclear weapons and long-range missiles. Trump wrote, "We have an almost unlimited supply of these weapons. The war can go on 'forever'."

He had earlier claimed that Iran's "air defense systems, air force, navy, and top leadership have been wiped out."

On March 3, Tehran was hit by airstrikes that destroyed a police station.

Informed sources revealed that the UAE and Qatar are privately urging allies to help persuade Trump to seek de-escalation and shorten military operations against Iran.

Global benchmark Brent crude surged to $85 per barrel on Tuesday, the first time since July 2024. European natural gas prices rose by as much as 48%.

After Qatar Energy shut down a major liquefied natural gas plant due to Iranian attacks, production of some petrochemicals has also been suspended. According to a source, Iraq has started shutting down oil extraction at the Rumaila oil field, operated by BP PLC. The source added that storage capacity is nearing its limit as tankers struggle to leave the Persian Gulf.

Debris from an intercepted drone sparked a major fire at Fujairah, a key oil trading hub in the UAE.

On March 3, missiles were seen in the skies above Doha.

The Iranian Red Crescent Society reported 787 fatalities in the country so far. The U.S. stated that six American troops have been killed, while Israel reported around 12 fatalities.

Israeli forces entered southern Lebanon, a stronghold of the Iran-backed Hezbollah group, and launched strikes on targets in Beirut. Lebanon's health ministry said over 50 people were killed in the attacks.

The U.S. military stated on Tuesday that it had destroyed "Iranian Revolutionary Guards command and control facilities, Iranian air defense capabilities, missile and drone launch sites, and military airfields." Iran admitted overnight Monday that its Natanz nuclear facility had been attacked.

The U.S. State Department urged American citizens to leave the Middle East due to "serious security risks," advising those in Israel, Saudi Arabia, Qatar, the UAE, and over a dozen other countries to depart via available commercial transport.

With Dubai Airport, one of the world's busiest aviation hubs, attacked over the weekend, nearly all civilian air traffic in the Gulf region has been suspended, complicating evacuation efforts. Emirates and Etihad Airways plan to resume limited operations to ease congestion.

U.S. Secretary of State Marco Rubio told reporters in Washington that the Trump administration would soon announce a plan to help mitigate rising energy costs. He said military operations would only intensify, adding that "the strongest blow is yet to come."

Iranian Foreign Minister Araghchi stated in a televised address Monday that Tehran holds no grievances against neighboring countries and is currently "dealing with U.S. soldiers stationed in those nations." Saudi Arabia and the UAE had earlier strongly condemned Iran for expanding the conflict into their territories.

On Monday, two drones struck near the U.S. embassy in Riyadh, causing limited damage. The U.S. reported that three fighter jets crashed in Kuwait in an apparent friendly fire incident, with all pilots ejecting safely.

On March 3, Israeli airstrikes hit Beirut.

U.S. intelligence officials submitted analyses to the government outlining multiple potential scenarios following strikes on Iran, emphasizing uncertainty in how events may unfold.

After Khamenei’s death over the weekend, Trump called on the Iranian people to "seize this moment" and "take back their country," though it is considered unlikely that any opposition group would attempt to seize power.

Araghchi said Sunday that a new Supreme Leader could be chosen within days.

Trump has expressed openness to supporting groups inside Iran willing to take up arms against the current regime. The U.S. leader has also spoken with Kurdish leaders who control significant armed forces along the Iraq-Iran border.

The International Atomic Energy Agency expressed frustration Monday at the breakdown of diplomatic efforts, noting that satellite imagery indicates Iran’s nuclear sites have largely been unaffected by the current round of strikes. The U.S. and Israel had targeted these facilities in a 12-day campaign last June.