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The war in the Mid­dle East raged on mul­ti­ple fronts on Mon­day, as the U.S. and Is­rael pum­meled mil­i­tary tar­gets in Iran’s cap­i­tal, Is­rael stepped up its cam­paign against Iran-backed mil­i­tants in Lebanon and Iran re­tal­i­at­ed with a drone strike that tem­porar­i­ly forced the clo­sure of Dubai’s air­port, a cru­cial hub for trav­el­ers.

Fears of a glob­al en­er­gy cri­sis per­sist­ed, even as a small num­ber of ships passed through the Strait of Hor­muz, a vi­tal wa­ter­way through which a fifth of the world’s oil is usu­al­ly trans­port­ed.

Iran­ian strikes on com­mer­cial ships in and around the strait, and even just the threat of those at­tacks, have slowed ship­ping there to a trick­le. That has dra­mat­i­cal­ly in­creased the price of oil and put pres­sure on Wash­ing­ton to do some­thing to ease the pain for con­sumers and the glob­al econ­o­my.