US-Israel Launch 'OPERATION EPIC FURY' on Iran
Analysis based on 50 articles · First reported Feb 28, 2026 · Last updated Feb 28, 2026
The military strikes on Iran by the United States and Israel, and Iran's retaliation, have significantly increased geopolitical risk in the Middle East. This has led to a surge in oil prices, with Brent Crude expected to rise by $10-$20/bbl, and disruptions in global aviation and shipping, particularly through the Strait of Hormuz.
The United States and Israel launched coordinated military strikes on Iran, codenamed 'OPERATION EPIC FURY,' targeting its leadership and military infrastructure. This action, initiated by United States President Donald Trump and supported by Israeli Prime Minister Benjamin Netanyahu, aims to eliminate security threats, prevent Iran from obtaining nuclear weapons, and potentially incite a popular revolt against the Iranian government. Iran retaliated by launching missiles towards Israel and several Gulf Arab countries hosting United States bases, including the United Arab Emirates, Bahrain, Qatar, and Kuwait. The conflict has resulted in reported casualties among Iranian officials and civilians, and has led to widespread panic in Iran, with citizens rushing to banks and gas stations. The attacks have dimmed hopes for a diplomatic solution to Iran's nuclear dispute with the West and have significantly escalated tensions in the Middle East, impacting global oil markets and regional stability. The operation was planned for months and is expected to last for multiple days.
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