The war with Iran is doing collateral damage to the world economy.

The conflict is driving up energy and fertilizer prices; threatening food shortages in poor countries; destabilizing fragile states such as Pakistan; and complicating options for the inflation fighters at central banks like the Federal Reserve.

Iran launched new attacks on Tuesday at Israel and Gulf Arab countries as it kept up pressure on the Middle East in a war that has sent oil prices surging and stunned global economies. Five pro-Iranian militiamen were killed in an airstrike in northern Iraq.

Incoming missile sirens sounded early in the morning in Dubai in the United Arab Emirates, and in Bahrain, while Saudi Arabia said it had destroyed two drones over its oil-rich eastern region and Kuwait's National Guard said it had shot down six drones.

The military court in Beirut ordered three Hezbollah members released on a $20 bail each, judicial officials said Monday.

The Lebanese government last week declared Hezbollah’s military activities illegal and ordered the country’s security forces to detain those who were behind the strikes on Israel.

In southern Lebanon, the Israeli military said it launched a "targeted and limited raid" to "locate and eliminate" Hezbollah operatives and infrastructure using a brigade combat team under the command of the 36th Division.

The military said before they initiated the operation, its forces launched a combined air and ground attack in the area.

Parliament on Monday postponed legislative elections, initially due to be held in May, by two years, according to a statement from the parliament speaker, due to the war between Israel and Iran-backed group Hezbollah.

MPs convened on Monday including Mohammad Raad, head of Hezbollah's parliamentary bloc, even as Israeli warplanes flew above the nearby southern suburbs of Beirut.

The investigative group Bellingcat says newly released video "appears to contradict" U.S. President Donald Trump's claim that Iran was responsible for an explosion at an Iranian school that killed over 165 people at the start of the war raging in the Mideast.

It comes as mounting evidence points to U.S. culpability for the Feb. 28 strike, which hit a school adjacent to a Revolutionary Guard base in Minab, Iran, in the country's southern Hormozgan Province. Experts interviewed by The Associated Press, citing satellite image analysis, say the school was likely struck amid a quick succession of bombs dropped on the compound.

Oil prices spiked near $120 per barrel before falling back Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummeling financial markets.

The price for a barrel of Brent crude, the international standard, surged to $119.50 per barrel early in the day but later was trading at $107.80 per barrel.

French President Emmanuel Macron is traveling to Cyprus on Monday, days after dispatching a warship to the east Mediterranean island nation, where a Shahed drone struck a British air base on its southern coast last week during the Iran war.

Macron ordered the French frigate Languedoc to waters off Cyprus to bolster the European Union member country's anti-drone and anti-missiles defenses. The French president also decided to send ground-based anti-drone and anti-missile defenses to the island, which sustained the first drone attack on European territory.

The human rights group Human Rights Watch said in a report Monday that the Israeli military "unlawfully" hit a village in southern Lebanon with shells containing white phosphorus, a controversial incendiary munition.

Through geolocating and verifying seven images, Human Rights Watch said Israel fired white phosphorus using artillery at residential areas in the southern Lebanese village of Yohmor. It happened hours after the Israeli military warned the residents of the village and dozens of others in southern Lebanon to evacuate.

Israel launched a series of strikes on the southern suburbs of Beirut Thursday after ordering all residents of the densely populated area to evacuate.