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Global markets reacted swiftly as the International Energy Agency approved its largest-ever emergency oil release, aiming to curb price spikes triggered by the ongoing Middle East conflict. Oil prices plunged after the US Navy safely escorted a tanker through the Strait of Hormuz and officials hinted at a possible end to the war, injecting hope for stability. Meanwhile, tensions persist as a preliminary inquiry linked the U.S. to a missile strike on an Iranian girls' school during Operation Epic Fury, with investigations into targeting errors still underway.

In the U.S., inflation remained stubbornly above the Federal Reserve's target in February, keeping economic pressures in focus. On the political front, Clayton Fuller and Shawn Harris advanced to a runoff for Georgia's 14th District seat, formerly held by Marjorie Taylor Greene. Severe weather also dominated headlines as deadly tornadoes swept the Midwest, leaving fatalities and widespread damage, with Indiana still under storm watch.

Developing: Investigations continue into the U.S. missile strike in Iran amid questions about targeting errors.