By Nana Karikari, Senior Global Affairs Correspondent
The war between the United States, Israel, and Iran entered its thirteenth day on Thursday, March 12, 2026, with a significant expansion of hostilities into the commercial hubs of the Persian Gulf. Brent crude oil—the international pricing standard for global markets—briefly reclaimed the $100 (approx. 1,088 GHS) a-barrel threshold as markets reacted to systemic instability. Despite a record release of 400 million barrels by the International Energy Agency, supply anxieties persist. “Oil prices shot more than 9% higher as supply concerns worsened,” reflecting the gravity of the maritime disruption. U.S. benchmark crude also jumped to $95 (approx. 1,034 GHS) a barrel.
Targeted Strikes on Dubai and Kuwaiti Infrastructure
Iranian drones struck the heart of the United Arab Emirates and Kuwait early Thursday, targeting civilian and logistics centers. Two drones hit Dubai, striking the al-Badaa neighborhood and a building on the 12-lane Sheikh Zayed Road. “The container ship was struck by [an] unknown projectile causing a small fire onboard,” reported the United Kingdom Maritime Trade Operations Center following a separate strike near Jebel Ali. In Kuwait, drones hit the international airport and a residential building. “The injured are currently receiving the necessary medical treatment,” confirmed Colonel Saud Abdulaziz Al-Atwan after the residential strike.
Maritime Warfare and the Strait of Hormuz
The Joint Maritime Information Center confirmed that 19 commercial ships have been damaged since the start of the war. Iranian fire targeted vessels near the Iraqi port of Basra and off the coast of the UAE. In response, U.S. Central Command announced it had “eliminated 16 Iranian minelayers” and several naval vessels. The G7 is currently weighing the deployment of naval escorts for tankers. “It’s a cowardly act of sabotage,” stated Iraqi Lieutenant General Saad Maan after an attack in Iraqi waters killed one person and forced the rescue of 38 crew members.
Heavy Toll and Conflicting Political Messaging
The human cost of the thirteen-day conflict has reached catastrophic proportions. Iranian officials report over 1,300 deaths, while the Pentagon confirmed seven U.S. service members have been killed. The first week of war cost the United States $11.3 billion (approx. 122.9 billion GHS). A U.S. strike on an Iranian elementary school, reportedly caused by outdated intelligence, killed 168 children. “It’s just a question of when, when do we stop?” President Trump asked reporters, even as he told supporters in Kentucky, “We won. The first hour, it was over.” This rhetoric has drawn sharp rebukes from lawmakers like Senator Lisa Murkowski, who criticized the administration’s “mixed messaging.”
Diplomatic Deadlock and Cyber Warfare
Diplomatic resolution remains elusive as Supreme Leader Ayatollah Mojtaba Khamenei has yet to appear publicly since his succession. President Masoud Pezeshkian signaled that peace requires the world to “recognize Iran’s legitimate rights” and pay reparations. Meanwhile, the conflict has shifted into the digital realm. An Iranian-linked group claimed a cyberattack on Michigan-based medical firm Stryker. “Work and communications with colleagues [ground] to a standstill,” an employee noted, marking the first major state-aligned hack against a U.S. company during this war.
African Economies Brace for Energy Shock and Inflation
The disruption of the Strait of Hormuz—through which one-fifth of the world’s oil passes—is sending shockwaves through African markets. Nations such as Ghana and South Africa, which rely on refined petroleum imports, are facing immediate inflationary pressure. In Ghana, authorities were recently forced to pause gold exports to Dubai as regional flight paths became compromised. Analysts warn that if crude remains above $100 (approx. 1,088 GHS), the cost of transport and food across the continent will soar, straining government budgets and weakening local currencies against the dollar.
Regional Security Maneuvers
As Bahrain sounded missile alerts over incoming fire, neighboring leaders sought to fortify alliances. Pakistan Prime Minister Shehbaz Sharif traveled to Saudi Arabia on Thursday at the invitation of Crown Prince Mohammed bin Salman. The leaders intend to review bilateral relations and regional security. This visit occurs as the FBI clarifies
there is “no credible evidence of an imminent attack” on U.S. soil, despite raw intelligence suggesting Iranian aspirations for maritime drone launches off the American coast.
A Global Equilibrium Under Siege
As the U.S. and Israel war with Iran inches closer to its third week, the international community finds itself at a dangerous crossroads where military objectives and economic survival collide. While Washington speaks of total victory, the reality on the ground—and at sea—suggests a protracted war of attrition that threatens to reshape the global order. For emerging economies from Accra to Pretoria, the stakes are no longer merely diplomatic; they are a matter of domestic stability. With the Strait of Hormuz effectively a front line and diplomatic channels silent, the world waits to see if the coming days will bring a strategic de-escalation or a slide into an uncontrollable regional conflagration.
