Earlier on Tuesday, Iran launched drones against Saudi Arabia and Kuwait, and U.S. President Donald Trump sent conflicting signals about how long the war might last, adding to uncertainty and causing market volatility.
The Saudi Defense Ministry said it had destroyed drones over the country’s oil-rich eastern region, while in Kuwait, the National Guard said it had downed a number of drones in the north and south of the country.
Iran’s latest attack on neighboring Gulf states came as Trump told Republican lawmakers late Monday night that the war might be just a “jump trip,” but hours later threatened in a social media post that the United States would significantly increase its attacks if Iran tried to close the Strait of Hormuz.
In an apparent response to Trump’s remarks on Iranian state media, paramilitary Revolutionary Guard spokesman Ali Mohammad Naini said, “Iran will decide when the war ends.”
This is the latest:
United Arab Emirates lowers nighttime missile warning volume
The United Arab Emirates will reduce the number of missile alerts sent to mobile phones at night.
The UAE National Emergency Crisis and Disaster Management Authority announced the news late Monday, saying a loud siren will sound on mobile phones between 9 a.m. and 10:30 p.m.
The standard SMS ringtone will reportedly sound between 10:30pm and 9am.
Since the war broke out on February 28, blaring trumpets have been blaring in the middle of the night. The change in alert shows that Gulf Arab states are struggling to come to terms with the idea of an ongoing war as there is no immediate sign of an end to the conflict.
Egypt hikes fuel prices as oil prices soar
Egypt raised fuel prices by 17% on Tuesday as oil prices surge due to war in the Middle East.
According to the Petroleum Ministry, public transport relies heavily on diesel and the cost per liter of diesel has increased by more than 17%. The price of 92-octane gasoline increased by 15%, and the price of 95-octane gasoline increased by 14%.
The war dealt a heavy blow to Egypt. Egypt, the most populous Arab country, relies heavily on imported fuel. The Egyptian pound fell to a record low on Monday, trading above 52 against the dollar.
To mitigate the impact of the war, the government announced a series of measures, including reducing official overseas travel and tightening fuel consumption across departments.
Iran’s Revolutionary Guards say they will decide end of war
The paramilitary Revolutionary Guards said on Tuesday that the end of the war would be decided by Iran.
“Iran will decide when the war ends,” spokesman Ali Mohammad Naini said in a statement carried by multiple Iranian state media outlets, in an apparent response to Trump’s comments on Monday.
Trump vows tougher crackdown on Iran if it halts oil tanker voyages
The US president has promised to take aggressive action against Iran if it continues to block oil shipments through the Strait of Hormuz.
“If Iran does anything to stop the flow of oil within the Strait of Hormuz, they will be hit twenty times harder than the United States has been hit to date,” Trump posted on social media. “Additionally, we will eliminate easily destroyed targets that will make it nearly impossible for Iran to rebuild as a nation again – death, fire and fury will rule them all – but I hope and pray that won’t happen!”
The president said his threat was a “gift” to China and other countries because China relies on Middle Eastern oil.