Iran's ongoing military actions in the Persian Gulf have driven oil prices above $100 per barrel, escalating regional tensions and causing significant casualties and displacement.

Iran’s joint military command also announced it would start targeting banks and financial institutions in the Middle East.

The U.N. refugee agency reports that up to 3.2 million people in Iran have been displaced due to ongoing military conflict, with significant impacts on oil prices and regional security.

A joint Iranian military command says that banks and financial institutions are now a target in the Middle East

The Middle East conflict is ramping up on multiple fronts, with Iran targeting global energy supplies and its neighbors. Follow for live news updates.

After several days of Iranian strikes on UAE territory, the United Arab Emirates carried out its first strike on an Iranian water desalination facility, Israeli news agency Ynet reports. Israeli analysts note that the operation was largely symbolic — a warning — though if Iranian attacks intensify,

Iranian missiles and drones have hit the United Arab Emirates, shaking Dubai’s image as a safe, tax-free haven for foreigners.

The war between Iran and the United States is rapidly intensifying to include other countries, including Saudi Arabia and United Arab Emirates.

Since the United States and Israel started the war with a Feb. 28 attack on Iran, Tehran has focused on inflicting enough global economic pain to pressure them to halt their attacks.

Officials speculated that Iran is intentionally hitting the Arab states to get them to pressure the U.S. to end the war.