A major fire broke out at an important oil port in the United Arab Emirates following drone attacks, intensifying concerns about energy supplies in the region. President Trump announced that the US is sending warships to secure the Strait of Hormuz and enable free oil transit.

"We will liberate Hormuz," said Trump, emphasizing that American military power will ensure normalization of global oil flow, which is now almost completely cut off.

The conflict is already leaving visible consequences on regional markets. The Dubai real estate market saw a drop of around 30 percent, and a large number of international companies have suspended their operations in the region. The price of oil temporarily jumped to nearly 120 dollars per barrel before stabilizing at around 90 dollars.

The humanitarian consequences are also alarming - over 200 casualties among educational institution personnel, mass displacement of civilians and serious damage to infrastructure across the affected areas.