Governments are working on plans to unblock vital oil chokepoint the Strait of Hormuz. The Iran war has effectively closed the waterway and pushed up gasoline prices. French President Emmanuel

Suspected Iranian drones hit at least three ships in and around the Strait of Hormuz, continuing attacks that have paralyzed traffic through the shipping channel vital for the flow of the world's oil supply.

Three vessels have been hit by unknown projectiles ⁠in ⁠the Strait of Hormuz, maritime security and ⁠risk firms said on Wednesday, bringing the number of ships struck in the region since the ​Iran conflict began to at least 14.

Iran continued retaliatory strikes across the Middle East and threatened to shut down the Strait of Hormuz. President Trump said Monday he would not allow "a terrorist regime to hold the world hostage and attempt to stop the globe's oil supply.

The US president says Iran's "leaders are gone" and "we could do a lot worse". Meanwhile, the UAE says it's responding to incoming missile and drone threats from Iran.

Follow live NBC News coverage and latest updates as the Iran war hits oil prices, Iran vows to block the Strait of Hormuz and Israel strikes Tehran and Lebanon.

Oil prices surged Monday to more than $119 per barrel but dropped by more than 10% on Tuesday. Meanwhile, world leaders are eyeing oil reserves as the Iran war continues to disrupt traffic through the Strait of Hormuz.

The Israeli military says it's responding to strikes from Iran-backed Hezbollah, and warns residents in Beirut's southern suburbs to evacuate.