The bulk carrier Galaxy Globe and the tanker Luojiashan are anchored in Muscat (Oman) after Iran promised to close the Strait of Hormuz. Photo Reuters / Benoit Tessier.
The conflict with Iran continues to escalate: the US and Israel are carrying out the largest airstrikes since the beginning of hostilities, while Tehran responds with missile and drone attacks on American military facilities in the region, threatening to block oil supplies from the Persian Gulf. Despite the worsening situation, global financial markets hope for a quick resolution to the conflict, as reported by Reuters.
The most powerful airstrikes since the beginning of the conflict
On Tuesday, the US and Israel carried out a series of attacks on Iran, described as the most powerful since the start of hostilities, according to the Pentagon and residents of the affected areas.US Secretary of Defense Pete Hegseth noted at a Pentagon briefing that this day would be "the day of the most intense strikes on Iranian territory," with a larger number of fighters and bombers involved, as well as more precise intelligence data being used.
Later, US President Donald Trump posted on the social network Truth Social that American forces "completely destroyed" ten Iranian mine-layers, but did not specify the locations of the strikes.
Iran's response to American bases
The Islamic Revolutionary Guard Corps reported that on Tuesday evening, Iran launched missiles at American military facilities in the Middle East. The strikes targeted the "Al-Udeid" base in Qatar and the "Al-Harir" base in Iraqi Kurdistan. Later, drone attacks on American facilities were also recorded, including the "Al-Dhafra" airbase in the UAE and the naval base "Juffair" in Bahrain.Iranian state media also reported a new wave of attacks on American facilities in Bahrain.
Missile strikes on Israel
On the night of Wednesday, Iran launched several waves of missiles at central Israel. Air raid sirens went off in several cities, residents sought shelter, and air defense systems intercepted missiles. At the time of the attack, there was no information about hits on ground targets.In response, Israel carried out new strikes on Beirut, aiming to weaken the positions of Iranian-backed "Hezbollah," which had been shelling the territory from Lebanon.
Threat of an oil blockade
The Islamic Revolutionary Guard Corps stated that Iran could block oil supplies from the Persian Gulf region while attacks from the US and Israel continue.This refers to a possible blockade of the Strait of Hormuz, which is one of the key routes for energy resource supplies, through which about one-fifth of the world's oil and liquefied natural gas exports pass.
The White House stated that the US is prepared to respond firmly to any attempts to disrupt shipping in the strait and, if necessary, provide escort for tankers with naval forces.
War through the eyes of Tehran residents
Residents of Tehran, interviewed by Reuters journalists, described the last night as one of the hardest since the beginning of the conflict. "It was like hell. Bombs were falling everywhere, all over Tehran. Now my children are afraid to sleep," shared one local resident.In the eastern part of the capital, missiles destroyed two five-story residential buildings. Rescue services continued to extract bodies of the deceased when a new explosion occurred nearby.
Markets expect a quick end to the conflict
Despite the escalating tension, financial markets show confidence that the conflict may be resolved quickly.The price of Brent oil fell below $90 again on Tuesday after a sharp spike to nearly $120 per barrel on Monday. European and Asian stock markets partially regained their positions after a sharp decline.
The White House noted that oil and gas prices could quickly decrease after military objectives of the operation are achieved.
According to a source familiar with Israel's plans, the Israeli military aims to inflict maximum damage on Iranian infrastructure before Donald Trump decides to end the military campaign.
Iran's political position
High-ranking Iranian officials made tough statements on Tuesday. Parliament Speaker Mohammad Bagher Ghalibaf stated that Tehran has no intention of ceasing fire: "The aggressor needs a tough response to learn a lesson."Foreign Minister Abbas Araghchi also added that the resumption of negotiations with the US is unlikely.
Casualties and destruction
According to Iranian representative to the UN Amir Saeed Iravani, more than 1,300 civilians have died since the start of US and Israeli airstrikes on February 28.He also reported that about 8,000 homes, 1,600 commercial and service facilities have been destroyed, and dozens of medical and educational institutions have been damaged.
Additionally:
- In Israel, 12 people have died as a result of Iranian attacks;
- In Lebanon, dozens of people have become victims of Israeli strikes.
