The conflict in the Middle East has intensified in the last 24 hours across multiple fronts indicating a dangerous escalation in the US-Israel vs Iran war. The US has struck more than 1,700 targets under, while US Central Command reported the destruction of 17 Iranian vessels across key Gulf waters.Meanwhile, the Saudi Arabia has intercepted several drones over its airspace, and authorities in Dubai confirmed air defence interceptions over the city. In between, all this, markets have reacted nervously, with oil surging and global equities sliding as fears grow that the conflict could choke one of the world’s most critical energy corridors.Saudi Arabia intercepts nine dronesSaudi Arabia intercepted and destroyed nine drones that entered its airspace early Wednesday, Saudi Press Agency reported. The Defence Ministry spokesman said the drones were destroyed “immediately” upon entering the kingdom’s airspace.Hezbollah claims rocket attack on MetulaLebanon’s Hezbollah claimed it fired rockets at Israeli forces in the northern Israeli town of Metula. This followed after its earlier announcement of a missile attack on a naval base in Haifa, Al Jazeera reported.17 Iranian ships destroyed, hit nearly 2,000 targetsThe US military has destroyed 17 Iranian vessels, including a submarine, and struck nearly 2,000 targets in Iran, US Central Command commander Adm. Brad Cooper confirmed.Trump’s takeUS President Donald Trump said the US Navy will begin escorting tankers through the Strait of Hormuz “as soon as possible”. In a Truth Social post, he said the United States would ensure the free flow of global energy. Oil prices have risen more than 15 percent since US and Israeli strikes on Tehran began three days ago.Story continues below this adTrump also welcomed German Chancellor Friedrich Merz at the White House, saying Germany had been “helping out” by allowing US forces access to certain bases. Merz said both countries wanted to remove Iran’s current regime and would discuss developments after the military operation.Donald Trump said the joint US-Israeli strikes aim first to “finish off the military”. Speaking alongside Merz, Trump said the US would end all trade with Spain and expressed dissatisfaction with the UK government led by Keir Starmer.Trump also claimed that Tehran wanted negotiations but that it was “too late”, as US military operations continued.Markets struggleUS stock futures declined as investors assessed the fallout from the strikes on Iran. Tehran’s threat to close the Strait of Hormuz has pushed up crude prices and shipping rates, raising concerns about inflation and global trade.Story continues below this adAsian shares declined while oil prices rose amid concerns the conflict could disrupt energy supplies.In Tokyo, the Nikkei 225 continued to fall on Wednesday, and was down about 1.7% during early trading. But Wall Street looks set to open only marginally lower in New York, according to pre-market trading data.The Korean Stock Exchange called a temporary trading halt after the Kospi and Kosdaq each plunged more than 8% in Seoul morning trade, while Hong Kong’s Hang Seng lost 1.2 per cent as investors reacted to risks around the Strait of Hormuz.Pakistan calls Zionism a threatPakistan Defence Minister Khawaja Asif described Zionism as a “threat to humanity” and warned the Iran conflict could endanger Pakistan’s security. He said Pakistan’s nuclear capability remains a shield against external threats.Indian basmati shipments hit by war disruptionStory continues below this adAbout 400,000 metric tonnes of Indian basmati rice are stuck at ports or in transit as the conflict disrupts shipping routes, trade officials said. Satish Goel of the All India Rice Exporters’ Association said freight rates have more than doubled and new export deals have stalled.Iraq downs drone targeting US consulateIraqi authorities shot down a drone that attempted to target the US consulate in Erbil on Tuesday, Reuters reported.Dubai sounded alarms after interceptionAuthorities in Dubai said sounds heard across parts of the city were due to air defence interception operations. Officials said teams were closely monitoring the situation and taking necessary measures to ensure public safety.UK sends warship and helicopters to CyprusPrime Minister Keir Starmer said the UK is deploying helicopters with counter-drone capabilities to Cyprus and sending the air-defence destroyer HMS Dragon to the region after a drone strike hit a UK base.Assembly of Experts compounds hit in IranStory continues below this adUS and Israeli forces struck offices of Iran’s Assembly of Experts in Qom and Tehran, Iran’s Tasnim news agency reported. A Telegram channel claimed a session convened to choose Iran’s next supreme leader was targeted, with several members reportedly killed or wounded. The clerical body is responsible for appointing and overseeing Iran’s supreme leader.Muslim World League condemns attack on US Embassy in RiyadhThe Muslim World League condemned the attack on the US Embassy in Riyadh and called it “treacherous Iranian aggression”Ukraine offers UAE helpUkrainian President Volodymyr Zelenskyy has offered assistance to the United Arab Emirates to counter Iranian aerial attacks. He said Ukraine’s experience in countering Shahed drones could help protect lives in the UAE.US Embassy warns of imminent attack in Saudi cityStory continues below this adThe US Embassy in Saudi Arabia warned of an “imminent” missile and drone attack in Dhahran and advised people not to approach the US Consulate. It urged residents to take cover on the lowest floor away from windows.Israeli strikes hit southern BeirutIsrael carried out airstrikes on Beirut’s southern suburbs, targeting Hezbollah leaders, Israeli Army Radio said. Lebanon’s National News Agency reported extensive building damage, while AFP footage showed plumes of smoke rising.Jordan and West Bank intercept Iranian missilesIsraeli air defences intercepted four Iranian ballistic missiles over Jordan and areas near Jerusalem and the occupied West Bank, according to Al Jazeera citing Israeli media. No casualties were immediately reported.Tehran’s Golestan Palace damagedUNESCO expressed concern after the Golestan Palace in Tehran was reportedly damaged by debris and shock waves from a nearby airstrike. Separately, Saudi Arabia said two drones struck the US Embassy in Riyadh, causing minor damage and a limited fire.Natanz enrichment plant hitStory continues below this adThe International Atomic Energy Agency said entrances to Iran’s underground Natanz Fuel Enrichment Plant were struck. The agency said no radiological consequences are expected and no additional impact was detected at the facility itself.