U.S., Israel Launch Heaviest Strikes on Iran

The United States and Israel conducted their most intense airstrikes against Iran on March 10, 2026, despite global market expectations of an imminent end to the conflict. The Pentagon and Iranian sources confirmed the increased intensity of the strikes. In response, Iran's Revolutionary Guards threatened to block oil shipments from the Gulf and launched missiles at U.S.-operated bases in Qatar and Iraq's Kurdistan region.

U.S. Defense Secretary Pete Hegseth stated that the day's strikes were the most significant, involving more fighters, bombers, and refined intelligence. President Donald Trump, via Truth Social, claimed the destruction of 10 "inactive" Iranian mine-laying vessels. Residents in Tehran described the bombardment as the most intense of the war, with two five-story residential buildings hit and casualties reported.

Despite the escalation, global markets reacted to Trump's earlier statements suggesting the war would conclude soon. Crude oil prices, which surged to nearly $120 a barrel on March 8, fell back below $90 on March 10.

Asian and European stock markets partially recovered, and Wall Street returned to late February levels. The White House indicated that oil and gas prices would drop once military objectives are achieved.

An Israeli source suggested the military aimed to inflict maximum damage before a potential cessation of hostilities, while Israel's foreign minister stated the war would continue until both nations deem it appropriate to stop.