Evening News Coverage: Tensions Rising in the Middle East; 3 F-15s crash in Kuwait, Indian national killed in Oman, and more

Here are the top 5 stories of the day:

The United States confirms that three F-15s crashed in Kuwait, saying the plane crashed accidentally

The war between Iran, Israel and the United States has expanded dramatically. Iran and Tehran-backed militias fired missiles at Israel and several Arab countries, reportedly hitting the U.S. Embassy in Kuwait. The U.S. military said that Kuwait “accidentally” shot down three U.S. F-15E fighter jets during a combat mission amid incoming Iranian missiles and drones. In addition, a Cypriot government spokesman said that two drones flying towards the British military base in Cyprus were successfully intercepted. Follow real-time updates

Indian national killed in tanker attack off Oman coast

An Indian national was killed when an oil tanker was attacked off the coast of Oman. The vessel, MKD VYOM, was hit about 52 nautical miles off Muscat Governorate amid rising tensions in the Gulf. The oil tanker, which flew the flag of the Marshall Islands and was carrying nearly 59,463 tons of cargo, was hit by an unmanned ship, according to the Oman Maritime Safety Center. The attack caused part of the engine to explode, sparking a fire on the ship. Read more

PM Modi calls for dialogue and diplomacy middle East Tensions rise

Indian Prime Minister Narendra Modi has expressed deep concern over the escalation of tensions in West Asia following the large-scale military action by the United States and Israel against Iran that resulted in the killing of Supreme Leader Ayatollah Ali Khamenei. In a joint statement with Canadian Prime Minister Mark Carney, Modi said the situation in the region was “gravely concerning” to India. New Delhi will continue to engage with West Asian countries to protect Indian nationals living and working there, he added, reiterating India’s commitment to ensuring the safety of its citizens amid the evolving crisis. Read more

Conflict in West Asia escalates as India braces for economic shock

The U.S.-Israeli conflict with Iran poses direct economic risks to India, mainly because India relies heavily on oil and natural gas imports from the Middle East. Any disruption in the Strait of Hormuz could push up crude prices, widen the current account deficit and fuel inflation. Indian markets have already reacted, with stocks falling and the rupee weakening on concerns about rising energy costs. A prolonged crisis could also disrupt supply chains, increase freight and insurance costs, and impact remittances from the Gulf – the main source of income for many Indian households. Strategically, ongoing instability in the region complicates India’s relationships with Israel, Iran and its Gulf partners. Read more

Crude oil prices could hit $100 if Strait of Hormuz closes due to Middle East tensions

Rising tensions in the Middle East have reignited fears of a major oil shock, with markets closely monitoring whether crude prices could soar to $100 a barrel. The U.S.-Israeli conflict with Iran has raised concerns about supply disruptions, especially after U.S. airstrikes heightened uncertainty over shipments of goods through the strategically important Strait of Hormuz. Given oil’s central role in driving the global economy, any significant price increases could quickly translate into higher global inflation.Although Iran’s crude oil production accounts for about 3% of global crude oil production (with a daily output of more than 3 million barrels, it is OPEC’s fourth largest producer), its geographical location gives it a huge influence on regional energy flows. The bigger risk to the market is not just Iranian production itself, but the possibility of a prolonged disruption to exports from the Gulf, which could severely tighten global supply and drive up prices. Read more