Following US-Israeli strikes on Iranian military targets on Feb. 28 and Iran’s subsequent missile and drone response, airspace over Iran, Iraq, Kuwait, Israel, Bahrain, the UAE and Qatar has been temporarily closed, shutting key hubs including Dubai, Abu Dhabi and Doha. Shipping through the Strait of Hormuz – a chokepoint for around one-fifth of global crude and seaborne gas – has largely been halted, and three commercial vessels near the strait were reported attacked on March 1.