(REUTERS): Iran said the world should be ready for oil at $200 a barrel as its forces hit merchant ships on Wednesday and the International Energy Agency recommended a massive release of strategic reserves to dampen one of the worst oil shocks since the 1970s.

The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into ‌Lebanon and thrown global energy markets and transport into chaos.

Despite what the Pentagon has described as the most intense airstrikes since the start of the war, Iran also fired at Israel and targets across the Middle East on Wednesday, demonstrating it can still fight back.

On Wednesday, three vessels were reported to have been hit in Gulf waters as Iran’s Revolutionary Guards said their forces had fired on ships in the Gulf that had disobeyed their orders.

While Israel’s Defence Minister Israel Katz said the operation “will continue without any time limit, as long as required, until we achieve all objectives and win the campaign,” Trump suggested the campaign would not last much longer.

Photo: X

A satellite launched by NASA more than a decade ago is expected to return to Earth soon.

The spacecraft weighting 1,300 pound is called Van Allen Probe A, has been orbiting the planet for nearly 14 years and is now predicted to re-enter Earth’s atmosphere within the next day or two.

The space agency earlier estimated that the probe would begin re-entry around 7:45 p.m. ET on Tuesday (March 10), though the timing could vary by as much as 24 hours.

According to NASA, the risk of damage on the ground is extremely low.

Most of the more than 600-kg spacecraft is expected to burn up due to intense heat while passing through Earth’s atmosphere.

However, some small components may survive the re-entry. Scientists estimate that the chance of debris harming a person is about one in 4,200, which the agency describes as minimal.

The Food and Agriculture Organization of the United Nations (FAO) reported that the world food commodity prices rose in February, ending a five-month downward trend, as higher quotations for wheat, most vegetable oils and several meat types outweighed declines in cheese and sugar prices.

According to the new update released by the global food body, the he FAO Food Price Index, which tracks monthly changes in the international prices of a basket of globally-traded food commodities, averaged 125.3 points in February, up 0.9 percent from its revised January level while still 1.0 percent below its level a year earlier.

The FAO Cereal Price Index increased by 1.1 percent from January, driven primarily by higher world wheat prices reflecting reports of frosts in parts of Europe and the United States of America as well as ongoing logistical disruptions within the Russian Federation and the wider Black Sea region. International coarse grain prices also posted a modest increase, while the FAO All Rice Price Index edged up by 0.4 percent from the previous month, supported by sustained demand for basmati and Japonica varieties.The FAO Vegetable Oil Price Index increased by 3.3 percent in February, reaching its highest level since June 2022.

International palm oil prices rose amid firm global import demand and seasonally lower outputs in Southeast Asia, while world soyoil prices increased on expectations of supportive biofuel policy measures in the United States of America.

The FAO Vegetable Oil Price Index increased by 3.3 percent in February, reaching its highest level since June 2022.

Rapeseed oil prices rebounded, driven by prospects of stronger import demand for Canadian supplies. By contrast, sunflower oil prices eased moderately, partly due to rising export supplies from Argentina.

The FAO Meat Price Index increased by 0.8 percent from January, as ovine meat prices reached an all-time high and bovine meat prices rose on the back of strong import demand from China and the United States of America. Prices of pig and poultry meats edged up slightly from January.

The FAO Dairy Price Index declined by 1.2 percent, driven primarily by lower cheese prices.

International quotations for skim and whole milk powders increased notably amid strengthening import demand from North Africa, the Near East and Southeast Asia, while world butter prices registered their first monthly rise since reaching an all-time high in June 2025.

The FAO Sugar Price Index was down by 4.1 percent from January and by as much as 27.3 percent compared with February 2025 amid expectations of ample global supplies in the current season.