
This timeline tracks the rapid escalation of military conflict between the United States, Israel, and Iran from late February through mid-March 2026. Beginning with coordinated strikes that targeted Iran's Supreme Leader, the conflict quickly expanded to threaten global oil supplies through the closure of the Strait of Hormuz, triggering the largest emergency oil release in history and creating widespread economic disruption.
15 events · 0 days · 30 source articles
The United States and Israel began military airstrikes against Iran after negotiations over the nuclear program failed to reach agreement. On the first day of strikes, Iran's Supreme Leader Ayatollah Seyyed Ali Khamenei and several high-ranking military officials were killed. Iran immediately launched retaliatory missile and drone attacks on Israel and US military facilities across the region.
Following the death of Ayatollah Ali Khamenei in the initial strikes, his son Mujtaba Khamenei was named the new Supreme Leader. British media later reported that Mujtaba was injured in the February 28 attacks and in a coma with a leg amputation, though Iran's foreign minister denied these claims, stating Mujtaba was performing his duties normally.
Iran began interfering with shipping through the Strait of Hormuz, through which one-fifth of global oil passes. Commercial traffic was effectively paralyzed, with hundreds of tankers sitting idle on both sides of the waterway. Only a handful of Iranian-linked vessels continued to navigate the strait despite escalating security risks.
President Trump announced that US forces 'obliterated' military targets on Iran's Kharg Island, home to the country's primary oil export terminal. Trump warned that Iran's oil infrastructure could be targeted next if interference with Strait of Hormuz passage continued. The Iranian parliament speaker had previously warned such strikes would provoke a new level of retaliation.
Iran's Revolutionary Guard Corps conducted extensive retaliatory strikes, completing phase 53 of 'Operation True Promise 4.' A missile struck a helipad inside the US Embassy compound in Baghdad, while debris from an intercepted Iranian drone hit an oil facility in Fujairah, UAE. Iran fired on the Al-Dhafra airbase and Israeli regional command centers using Fattah hypersonic missiles, Qadr missiles, and kamikaze drones.
Global oil prices climbed above $100 per barrel for the first time since 2022, driven by the disruption of shipping through the Strait of Hormuz and attacks on Iranian oil infrastructure. Retail traders rushed into oil bets, with the biggest US oil ETF seeing record inflows. Energy markets faced unprecedented volatility as the conflict entered its third week.
President Trump urged allies including China, France, Japan, South Korea, and the United Kingdom to send warships to help keep the Strait of Hormuz 'open and safe,' arguing that other nations dependent on Gulf oil should share responsibility for securing the waterway. South Korea indicated it would evaluate the request 'with attention' in coordination with Washington.
The International Energy Agency announced a release of 400 million barrels of oil from emergency reserves, the largest coordinated drawdown in the agency's history. The move aimed to cushion global markets from supply shock, though analysts noted it could not fully compensate for the disruption at the Strait of Hormuz. Oil for Asia and Oceania would be available immediately, while barrels for Europe and the Americas would flow from late March.
Saudi Aramco sent a letter to global oil buyers stating it had no clear idea which port would be used for April exports, potentially using either Red Sea or Gulf facilities. The letter highlighted how Iran, not the US, effectively held the key to reopening global energy markets. One buyer commented they 'might as well call Iran' to find out when the war would end.
The Israeli Air Force completed a wave of strikes targeting IRGC and Basij Forces headquarters in the Hamedan area of western Iran. The IDF stated it was expanding the scope of strikes to additional areas in western and central Iran, aiming to systematically degrade the Iranian regime's command-and-control capabilities.
Iran's Revolutionary Guard Corps launched one of its most intense attacks, firing 54 missiles at strategic targets inside Israel in multiple waves. The strikes employed Khorramshahr, Kheibar Shekan, Qadr, and Emad missiles, and marked the first operational use of the fuel-powered Sejjil strategic missile. Air raid sirens sounded across central and southern Israel, with damage reported in Holon near Tel Aviv.
Energy Secretary Chris Wright told ABC News the conflict would 'certainly come to an end in the next few weeks' but could be sooner. He warned Americans would continue feeling pain at the pump 'for a few more weeks,' defending the administration's position that short-term disruption was necessary to eliminate Iran as a regional threat and stop attacks on American soldiers.
The conflict's economic impact spread globally as central banks prepared to confront renewed inflation threats and potentially delay interest-rate cuts. Asian currencies came under pressure, prompting central bank interventions. Hong Kong's treasury chief suggested the Middle East conflict could divert capital to the city due to its comparative stability. Hedge funds turned to exotic options to trade unprecedented cross-market volatility.
The war exposed the fragility of Gulf-Asia supply chains, with shipping threatened across both the Strait of Hormuz and Bab el-Mandeb chokepoints. Analysts noted that traditional solutions like stockpiles, alternative transport corridors, or new security arrangements offered only limited protection against the scale of disruption unfolding, which could persist even after the war ends.
President Trump told NBC News the US might hit Iran's Kharg Island again 'just for fun,' claiming previous strikes 'totally demolished' much of the oil export hub. The threat came as the war entered its 16th day with no clear resolution in sight, despite ongoing diplomatic efforts and military pressure from the US-Israel coalition.