Iranian fired drones towards Saudi Arabia and Kuwait early Tuesday as U.S. President Donald Trump sent contradictory signals about how long the war could last, fueling uncertainty that’s causing markets to swing.
The Saudi Defense Ministry said it has destroyed drones over the kingdom’s oil-rich eastern region, while in Kuwait, the National Guard said it shot some down in the county’s northern and southern areas.
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Iran’s latest attacks on neighboring Gulf States come as Trump late Monday told Republican lawmakers that the war was likely to be a “short excursion,” but hours later threatened in a post on social media that the U.S. would dramatically increase attacks if Iran tried to close the Strait of Hormuz.
In an apparent response to Trump’s remarks published in Iranian state media, a spokesperson for the paramilitary Revolutionary Guard, Ali Mohammad Naini, said “Iran will determine when the war ends.”
Here is the latest:
Israel targets Hezbollah’s financial arm
The Israeli military said Tuesday it had completed a series of strikes targeting Hezbollah’s financial arm, al-Qard Al-Hasan.
Israel says Hezbollah uses al-Qard al-Hasan to finance its military activities.
Israel targeted several of the group’s branches in southern and eastern Lebanon last week.
Saudi Arabia oil giant Aramco reports 2025 profit down from 2024
Saudi Arabia’s oil giant Aramco reported 2025 profits of $104 billion, down from the year before as the Iran war has seen its fields and facilities targeted.
Aramco released its annual results Tuesday. It planned to brief investors later in the day as the war that began Feb. 28 has seen Iranian drones and missiles target its facilities.
Aramco, formally known as the Saudi Arabian Oil Co., reported profits of $110 billion in 2024.
Aramco said its 2025 revenues were $445 billion, down from $480 billion in 2024.
United Arab Emirates lowers volume on missile alerts at night
The United Arab Emirates will lower the volume of missile alerts sent to mobile phones in the overnight hours.
The UAE’s National Emergency Crisis and Disasters Management Authority made the announcement late Monday night, saying that the loud blaring alarm would sound on phones from 9 a.m. until 10:30 p.m.
A standard text message chime would sound from 10:30 p.m. until 9 a.m., it said.
The blaring klaxon had sounded in the middle of the night since the war began Feb. 28. The change in the alerts signals how Gulf Arab states are trying to adjust to the idea of the war grinding onward as there’s no immediate sign of an end to the conflict.
Egypt hikes fuel prices as oil prices soar
Egypt hiked fuel prices by up to 17% on Tuesday as the war in the Middle East sent prices of oil soaring.
According to the Petroleum Ministry the cost of a liter of diesel, which is heavily relied on for public transport, increased by more than 17%. The price of the 92-octane gasoline rose by 15% and 95-octane gasoline increased by 14%.
The war has hit Egypt hard. The most populous Arab country, Egypt depends heavily on imported fuel. The Egyptian pound fell to a record low, trading at over 52 to the US dollar on Monday.
To mitigate impact of the war, the government announced a series of measures, including reducing official overseas trips and tightening fuel consumption across sectors.
Iran’s Revolutionary Guard say they will determine the end of the war
The paramilitary Revolutionary Guard said on Tuesday that the end of the war will be determined by Iran.
Spokesperson Ali Mohammad Naini said in a statement published in various Iranian state media and apparently in response to Trump’s remarks Monday that “Iran will determine when the war ends.”
Trump vows to hit Iran back harder if it stops oil tankers
The U.S. president pledged aggressive action against Iran if it continues to block the shipment of oil in the Strait of Hormuz.
“If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far,” Trump posted on social media. “Additionally, we will take out easily destroyable targets that will make it virtually impossible for Iran to ever be built back, as a Nation, again — Death, Fire, and Fury will reign upon them — But I hope, and pray, that it does not happen!”
The president said his threat was a “gift” to China, among other nations, because it relies on oil from the Middle East.