Yolande Knell
Middle East correspondent, in Jerusalem

The latest Iranian attacks on shipping – including on vessels travelling through the crucial Strait of Hormuz – are deeply worrying for global trade and for Arab Gulf countries – which continue to be directly targeted with missiles and drones.

Meanwhile, the Israeli military, which is closely coordinating with US forces, says it again launched an “extensive” wave of air strikes targeting the regime in Tehran overnight.

It also says it struck 10 Hezbollah headquarters in Beirut within 30 minutes.

The Israeli airstrike on Beirut killed seven people and injured 21 others, the Lebanese Health Ministry announced in a statement.

At the same time, Hezbollah continued to fire missiles at northern Israel, and Israel intercepted incoming Iranian rocket fire.

A total of 13 ships have been attacked in and around the Arabian Gulf, the Strait of Hormuz and the Gulf of Oman between 28 February and 11 March, UK Maritime Trade Operations (UKMTO) reported yesterday.

Overnight, off the coast of Iraq, a further two ships were struck near the port of Umm Qasr, near the city of Basra. The attack killed one person and injured 38 others, the head of the General Company for Iraqi ports said.

And just a moment ago, the UKMTO announced another incident north of Jebel Ali, UAE, writing that “the Master has reported the container ship was struck by unknown projectile causing a small fire onboard.”

A full damage assessment has been “impaired by darkness”, it adds.

Osmond Chia
Business reporter

Within the last few hours the price of Brent crude hit $100 (£74.79) a barrel, rising by 9% on Thursday in Asia.

Oil prices have not eased as even after dozens of countries, including the US and the UK, announced they would release record amounts of emergency reserves.

Iran has also continued its threat against ships passing through the Strait of Hormuz, a transit point for a fifth of the world’s oil.

US-traded crude has jumped by 9% at $95.27.

Oil prices crossed $110 a barrel on Monday and have fluctuated heavily since.

In some breaking news overnight, authorities say two foreign tankers were hit by explosions near the port of Umm Qasr, in the Iraqi city of Basra.

The head of the General Company for Iraqi ports says it has rescued 38 crew members from the vessels, and one person has died, in comments cited by the Iraqi news agency.

Ship tracking websites show the two tankers suspected of being attacked surrounded by rescue boats.

It’s unclear at this stage what caused the explosions. An initial investigation from Iraqi security officials showed explosive-laden boats from Iran had hit the two tankers, Reuters and CNN reported.

The UK’s maritime monitor also said it has received similar reports, while Iraq’s State Oil Marketing Organisation expressed “deep regret” over the incident.

Operations at all terminals have been suspended, authorities added.

Attacks on ships in the Gulf have intensified. Iraqi authorities say one person has died and another 38 have been rescued near the port of Umm Qasr, in the city of Basra, while Oman has rescued 20 sailors from a Thai-flagged vessel, some of whom had been injured, according to the Oman News Agency.

Oil prices continue to rise despite major countries agreeing to release a record amount of oil from their emergency reserves as they try to curb the impact of the war.

Brent crude rose by almost 9% to top $100 ($74.79) a barrel in Asia trading even after all 32 members of the International Energy Agency (IEA) said they will release 400 million barrels in response to supply concerns.

On Wednesday, Iran warned that oil could reach $200 a barrel as its attacks on ships intensify in the Strait of Hormuz, a key waterway for energy shipments.

Overnight the Israeli military launched “a large-scale wave of strikes” on Hezbollah infrastructure. In Beirut, BBC’s Samantha Granville reported seeing orange flashes light up the night sky in what she described as the “loudest night” for the city since the war began.

Israel also said it intercepted rockets fired by Iran and Hezbollah.

Meanwhile, Iran‘s foreign minister announced that the country’s national infrastructure was under attack, including the oldest bank “while full of employees” and pledged revenge.

In the Gulf, Saudi Arabia, Qatar, Kuwait and the UAE have reported intercepting aerial attacks overnight.

We’re resuming our live coverage of the war in the Middle East, where drone and missile strikes have continued overnight.

The economic shock of the conflict is being felt around the globe – rattling financial markets and again sending the price of Brent crude oil above $100 a barrel amid fears about energy supplies.

Attacks on ships in the Persian Gulf have also intensified, with large explosions reported on two foreign tankers, according to authorities. At least one person has been killed, reports say.

The Israeli military has continued strikes in Lebanon overnight, saying it hit 10 Hezbollah structures in Beirut. Iranian missiles were also intercepted heading to Israel, the military said.

Meanwhile attacks in the Gulf have continued, with Saudi Arabia and Qatar reporting aerial strikes.

Stay with us as we bring you the latest updates.