Revision History

Iran has struck dozens of oil, gas, and industrial facilities across six Gulf states since early March 2026, taking an estimated 12.2 million barrels per day of production offline and sending Brent crude above $120 per barrel. The attacks — a direct retaliation for the February 28 U.S.-Israeli military campaign that killed Supreme Leader Ali Khamenei — have overwhelmed air defense systems, collapsed maritime war-risk insurance markets, and drawn Yemen's Houthi movement into the conflict, raising the risk of a wider regional war.