All eyes are on the Strait of Hormuz, as President Donald Trump's 48-hour deadline ticks closer and Iran threatens to permanently close the vital trade passage. Asian stocks fell Monday as oil prices continued to rise, adding to fears of global inflation.
The number of people reported killed in Iran and Lebanon since the start of the conflictis now into the thousands,withanti-war proteststaking place in several cities around the world this weekend.
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Here's what to know on Day 24.
What are the main headlines?
Iran responds to Trump: Over the weekend, Trump said the US would "obliterate" Iran's power plants if the strait isn't reopened by Monday evening, at 7:44 p.m. ET – 48 hours from the time he posted the threat on Truth Social. Iran responded that if Trump follows through with his threat, it would close the vital waterway indefinitely and attack regional infrastructure. Separately, an Iranian source told CNN that Tehran is moving forward with monetizing control of the strait.
Economic fallout: Asian stocks plummeted Monday, as the United States and Iran escalate threats against each other. Oil prices rose today, with Brent crude – the global benchmark – climbing to $113.40 a barrel. The International Energy Agency's executive director said today the global economy is facing a "major threat" worse than the 1970s oil shocks. NATO Secretary General Mark Rutte said he's "absolutely convinced" an alliance of countries will be able to reopen the Strait of Hormuz, if needed.
Attacks on Lebanon: The Lebanese president condemned Israel's attacks on infrastructure in southern Lebanon on Sunday, calling them a "prelude to a ground invasion" and in "clear violation" of international law. Earlier, Israel's defense minister said the military would accelerate demolishing homes along the southern Lebanese border and destroy all bridges over the Litani River.
Regional troubles: A top official from the United Arab Emirates has criticized "major" Arab and Islamic nations for failing to support Gulf Arab countries in times of hardship. "In this absence and incapacity, it is unacceptable later to speak of the decline of the Arab and Islamic role or to criticize the American and Western presence," said Anwar Gargash, adviser to the UAE president.
What's happening on the ground?
West Bank attacks: Five Israeli settlers were arrested in the occupied West Bank on Sunday evening after a second consecutive night of widespread attacks on Palestinians. Videos posted online showed settlers torching cars and buildings, with at least 10 Palestinians reported injured, according to the Palestine Red Crescent Society. Violence in the West Bank has surged since the start of the war with Iran.
Strikes on Israel: Dozens of people were reported injured in Iranian missile strikes across southern Israel and on Tel Aviv over the weekend. One missile attack on the city of Arad injured at least 84 people. Israel's military said Sunday it has intercepted 92% of Iran's ballistic missiles.
Queues for fuel: Anxious Iranians in Tehran have been rushing to gas stations to stock up on fuel, a resident said Monday. The resident added there are long queues for fuel forming as the clock ticks toward the deadline set by Trump for the Strait of Hormuz to be reopened.
Death under investigation: The Israeli military is also examining whether friendly fire killed a civilian in the northern Israeli community of Misgav Am, after initially blaming the incident on Hezbollah, Iran's proxy in Lebanon.
Gulf interceptions: Gulf states continued intercepting drones and missiles early Monday morning, after having been bombarded with Iranian attacks for more than three weeks. One person was wounded by falling debris in Abu Dhabi, according to authorities.
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