Iran war live updates: Iranians prepare for Khamenei funeral as Tehran keeps up attacks on neighbors

Shares listed in Dubai and Abu Dhabi slid on Wednesday, as UAE exchanges reopened from a two-day closure that was applied after Iranian drone and missile strikes on the Gulf nation.

Dubai’s benchmark index was final down 4.9% in early afternoon buying and selling, placing it on course for its worst day since Could 2022. Abu Dhabi’s fundamental index was greater than 3% decrease, on observe for its sharpest intraday decline since August, whereas the Nasdaq UAE 20 was down 4.3%.

— Chloe Taylor

Qatar Airways mentioned on Wednesday its flights will stay briefly suspended because of the closure of the nation’s airspace.

“Qatar Airways will resume operations as soon as the Qatar Civil Aviation Authority pronounces the secure reopening of Qatari airspace,” the Gulf service mentioned in a publish on X.

Air journey across the Center East stays restricted because of security issues as the U.S.-Israel war towards Iran rages on.

Dubai-based Emirates mentioned its flights stay suspended till 23:59 UAE time on March 4, whereas Abu Dhabi’s Etihad mentioned all its scheduled business operations will likely be grounded till 14:00 UAE time on March 5.

— Azhar Sukri

A ceremony for Iranians to bid farewell to the late Supreme Chief Ayatollah Ali Khamenei will reportedly be held at 10 p.m. native time Wednesday.

Reuters, citing Iranian state media, mentioned the ceremony will final three days. Authorities will announce the funeral procession at a later date.

Khamenei served as Iran’s supreme chief from 1989 till he was killed over the weekend in a joint U.S.-Israeli strike.

— Lim Hui Jie

A widening Center East battle has posed a contemporary check for world central banks, as fears of an oil shock and renewed inflation dangers complicate policymakers’ calculus for shoring up development.

Brent crude costs prolonged 4 days of beneficial properties, rising 1.6% to $82.76 a barrel on Wednesday, hovering close to the very best stage since January 2025. The U.S. West Texas Intermediate crude costs additionally rose for a 3rd day to $75.48.

“The continued Iran battle solidifies the case for many central banks to carry charges regular for now,” a workforce of economists at Nomura mentioned.

Brent crude has risen by 36% up to now this 12 months, based on LSEG knowledge whereas WTI futures have been 32% greater as of Wednesday.

As world pure gasoline costs surged, an LNG tanker certain for Europe reversed course and is now heading to Asia, based on knowledge from analytics agency Kpler. This marks the primary instance of a ship diverting from Europe to Asia throughout the present value spike, the agency mentioned.

European pure gasoline costs have surged 66% this week after Qatar shut liquefied pure gasoline manufacturing following Iranian strikes. The nation provides about 20% of the world’s LNG and is the second-largest exporter, behind the U.S.

Kpler famous that the tanker, BW Brussels, highlights a widening value hole between areas as Asian patrons “compete extra aggressively for provide.”

“With Asian markets extremely uncovered to Qatari volumes and costs surging in each Asia and Europe, additional diversions for uncommitted cargoes are seemingly,” the agency added. That would add upward stress to Europe’s Title Switch Facility if patrons bid greater to retain shipments.

Whereas greater than half of Europe’s LNG imports come from the U.S., South Asia is very reliant on LNG from Qatar and the United Arab Emirates. The only real export route for LNG from these two nations is thru the Strait of Hormuz.

In 2025, Pakistan sourced 99% of its LNG imports from Qatar and the UAE, whereas Bangladesh and India every obtained 59%, based on Kpler.

— Pippa Stevens

Iran’s senior clerics accountable for deciding on the subsequent supreme chief are contemplating naming Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, to the highest publish, the New York Occasions reported Tuesday.

The clerics may announce the choice as quickly as Wednesday morning, though some members had expressed issues that the U.S. and Israel would goal him, the Occasions mentioned, citing three Iranian officers aware of the discussions.

— Anniek Bao

Executives from U.S. protection contractors are anticipated to satisfy officers on the White Home on Friday to debate rushing up weapons manufacturing after latest army operations, Reuters reported, citing sources aware of the matter.

Representatives from main contractors such as Lockheed Martin and RTX, the mother or father firm of Raytheon, have been invited to attend the assembly, based on Reuters.

In the meantime, the Pentagon is making ready a supplemental funds request of roughly $50 billion to replenish weapons utilized in latest conflicts, together with operations within the Center East. The proposal, which may very well be unveiled as quickly as Friday, continues to be preliminary and will change, Reuters reported, citing a supply.

The assembly comes as U.S. President Donald Trump mentioned on Tuesday that the nation’s munitions stockpiles are sturdy, including that the US has a “nearly limitless provide” of “medium and higher medium grade” weapons. It was not instantly clear what weapon grades Trump was referring to.

— Lee Ying Shan

A number of U.S. diplomatic missions throughout the Gulf have come below assault in latest days, based on State Division cables reviewed by a supply and shared with MS NOW.

Dubai authorities mentioned Tuesday {that a} drone-related incident induced a fireplace close to the U.S. Consulate in Dubai, which was rapidly contained. No accidents have been reported.

A drone struck the U.S. Embassy compound in Kuwait, based on a Tuesday cable, although all personnel have been accounted for. Amid attacks from Iran and Iranian-backed teams focusing on the embassy, the State Division authorised departure for greater than 200 employees and members of the family.

In Saudi Arabia, the U.S. Embassy in Riyadh sustained important harm from a drone assault Monday, knocking out communication companies. No accidents have been reported as the embassy had already been evacuated.

The State Division and the affected embassies haven’t but publicly commented on the incidents.

— Lee Ying Shan

America Central Command mentioned it had destroyed 17 Iranian ships and almost 2,000 targets, and dealt a extreme blow to Tehran’s defenses.

“We’ve severely degraded Iran’s air defenses and destroyed tons of of Iran’s ballistic missiles, launchers and drones,” mentioned a senior U.S. admiral in a video posted on X.

— Lee Ying Shan