US allies are developing a Plan B for the Strait of Hormuz in case President Trump withdraws, as Trump continues to strongly criticize NATO countries for their unwillingness to deploy militaries to the waterway and threatens to leave the alliance. This comes as Trump's irritation with NATO forces Europeans to confront the realities of the alliance.

The conflict involving Iran has intensified with the Houthi rebels entering the fray, launching attacks on Israel and threatening Red Sea shipping. Meanwhile, Pakistan hosted talks between Saudi Arabia, Turkey, and Egypt aimed at ending the war, while Iran issued warnings against a potential US ground invasion.

President Donald Trump has reiterated his 48-hour ultimatum to Iran to reopen the Strait of Hormuz, threatening to 'obliterate' its power plants and energy infrastructure. Tehran has warned it will respond with attacks on U.S. and Israeli energy targets if its facilities are targeted and stated the strait is open to all except "enemy" ships.

Tehran has offered a ceasefire framework as U.S. President Donald Trump agrees to temporary halt in military offensives against Iran.

France and Italy have pushed back against some US-Israeli military operations, as US President Donald Trump criticized NATO allies in Europe for being unhelpful in the month-long war in Iran, highlighting growing transatlantic tensions.

US President Donald Trump has extended the pause on military strikes against Iran's energy infrastructure until April 6, citing positive negotiation progress. This decision, amid renewed Mideast tensions, has caused global markets to react, with oil prices falling and Seoul and Tokyo stocks opening sharply lower.

Oil prices continue to fluctuate due to Middle East tensions, with Asia pivoting to coal as LNG supplies are choked. Tokyo stocks also experienced mixed trading, losing early gains due to oil price concerns, while manufacturers face increased costs from the Iran war. Jet fuel prices and airfares are rising, but US airlines report continued flight bookings, while Vietnam faces falling oil production and Brazilian truckers weigh a strike amid the conflict. Crypto markets are also monitoring the situation, and US gasoline prices have soared.

Air cargo prices are skyrocketing due to disruptions in key shipping lanes caused by the ongoing conflict in the Middle East. This has forced many carriers to reroute their vessels, leading to longer transit times and increased operational costs, which are then passed on to consumers.

The US Supreme Court has allowed a lower court to consider dismissing the contempt of Congress conviction against former Trump strategist Steve Bannon, bringing his net worth into focus.

A Kuwaiti crude oil tanker was attacked and set ablaze off the coast of Dubai, causing damage to its hull and prompting warnings of a potential oil spill. Kuwait has attributed the incident to Iran, though no casualties were reported, with fears of an oil spill in surrounding waters.

US President Donald Trump has confirmed 'very good' talks to end combat with Iran, leading to a delay in US strikes and a rise in markets, though Iran denies these discussions, outlines 'red lines' for peace, and continues its strikes, even firing rockets at Israel and mocking Trump.

G7 leaders have announced the record release of 400 million barrels of oil in response to the war in the Middle East. This represents about twenty days worth of usual oil traffic through the Strait of Hormuz, currently through dangerous to go through due to the threat of Iranian strikes. This initiative aims 'to calm markets down', as FRANCE 24's Philip Turle explains.