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By Mark Garrison
March 16, 2026
By Mark Garrison
March 16, 2026
In the news today: New developments in the Iran war are increasing fears of a global energy crisis; Trump suggests he may delay his China trip as he pressures Beijing for help with getting oil through the Strait of Hormuz; and severe storms pummel parts of the U.S. Also, all the highlights from the Academy Awards.
Fire and plumes of smoke rise after a drone struck a fuel tank, forcing the temporary suspension of flights at Dubai International Airport on Monday. (AP Photo)
WORLD NEWS
Iran hits Gulf neighbors and keeps stranglehold on oil shipping as concerns rise of energy crisis
Tehran has been regularly striking regional energy infrastructure with drones and missiles. It has also effectively stopped shipping traffic in the Strait of Hormuz, through which a fifth of the world’s oil is transported, giving rise to growing fears of a global energy crisis and putting pressure on Washington as consumers are already feeling the pain at the pump. Read more.
What to know:
Brent crude, the international standard, was at $104 in early trading, up nearly 45% since the U.S. and Israel attacked Iran on Feb. 28. It has spiked as high as about $120 during the conflict.
Trump said he has made demands to about seven countries to send warships to keep the Strait of Hormuz open, but his appeals have brought no commitments. His party is increasingly concerned that rising prices for American consumers will hurt the Republicans in elections this fall.
As morning broke Monday, a drone hit a fuel tank near Dubai International Airport, the world’s busiest for international passenger traffic, causing a large fire. Firefighters were able to contain the blaze and there were no injuries reported but the airport temporarily suspended all flights before resuming them a few hours later.
Trump suggests he may delay China trip as he pressures Beijing for help with Strait of Hormuz
President Donald Trump is suggesting he may delay his much-anticipated visit to China at the end of the month as he seeks to ramp up the pressure on Beijing to help reopen the Strait of Hormuz and calm oil prices that have soared during the Iran war. Read more.
Why this matters:
The uncertainty underscores just how much the U.S.-Israeli strikes on Iran have reshaped global politics in the past two weeks. Calling off the face-to-face visit with Chinese President Xi Jinping could have its own major economic consequences. Relations between Washington and Beijing have been fraught as both sides have threatened the other with steep tariffs over the past year.
In an interview Sunday with the Financial Times, Trump said China’s reliance on oil from the Middle East means it ought to help with a new coalition he is trying to put together to get oil tanker traffic moving through the strait after Iran’s threats have throttled global flows of oil. Trump said “we’d like to know” before the trip whether Beijing will help. “We may delay,” Trump said in the interview.
Severe storms pummel parts of US with snow and high winds and raise tornado threat
Successive punches of snow and wind were set to impact the eastern half of the United States on Monday as severe weather swept across much of the nation and made roads impassable in the Upper Midwest. Read more.
What to know:
Forecasters said mid-Atlantic states and Washington, D.C., were at greatest risk for high winds and tornadoes. The cold front was expected to move off the East Coast by Tuesday, bringing sharply colder weather in its wake, forecasters said. The late winter blast comes as Hawaii continues to be affected by a separate storm system that caused severe flooding over the weekend.
