Gulf Conflict
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Oil hits $114 peak; India markets crash as Iran war disrupts Gulf supplies
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Oil prices peaked above $114 per barrel on March 9 as the Iran war intensified, building on yesterday's surge past $110. Indian markets plunged amid fuel cost fears, while Asian governments rolled out measures to shield consumers from spiking prices.
The United States has used a reverse-engineered version of Iran's Shahed 136 drone against Iran in recent Gulf clashes. This low-cost unmanned system, known as LUCAS, marks its first combat deployment amid escalating tensions. The move highlights how inexpensive drones are reshaping modern warfare economics.