Iran Conflict: US/Israel Strikes, Iran Retaliates, War Widens, Energy Crisis Deepens, Interceptor Shortage

The conflict between the US/Israel and Iran has intensified, marked by military strikes, cyberattacks, and disruptions to global energy supplies. Iran's retaliation for US/Israeli strikes has included attacks on energy infrastructure in Qatar, causing a surge in gas prices, and disruptions in the Strait of Hormuz, leading to increased oil prices. The conflict has expanded to include Lebanon and Iranian-backed militias, raising fears of a broader regional war. The US is reportedly considering arming Kurdish forces within Iran to potentially incite an uprising. Concerns are mounting over depleted weapons stockpiles and the ability to sustain a prolonged conflict. ## Latest Update A new report indicates that Israel and the U.S. are running low on missile interceptors, such as Arrow 2 and 3, and THAAD missiles, respectively, due to the ongoing conflict with Iran. This depletion poses a significant risk to regional security, as defense systems may soon be unable to counter large-scale Iranian salvos. The report highlights the stark cost imbalance between Iran's relatively cheap drones and missiles versus the multi-million dollar interceptors required to stop them. ## Timeline * 2026-02-24: Citigroup reports hedge fund clients sold US dollar after Supreme Court tariff ruling. * 2026-02-24: The Supreme Court blocked Trump's tariffs, invalidating the legal foundation for trade restrictions. * 2026-02-25: The US imposes 126% solar tariffs on India, impacting Indian solar product competitiveness. * 2026-02-28: The Supreme Court blocked Trump’s tariffs, but a new 15% global levy was announced, reviving trade uncertainty. * 2026-03-01: US and Israel launch 'Operation Epic Fury' against Iranian military and nuclear infrastructure, sending shockwaves through energy markets. * 2026-03-01: Key global trade chokepoints, including the Strait of Hormuz, face extreme pressure due to the conflict. * 2026-03-01: Disruption in the Strait of Hormuz threatens nitrogen fertilizer exports, potentially collapsing global food stability. * 2026-03-02: Oil prices spike above $70 per barrel amid reports of disruptions in the Strait of Hormuz. * 2026-03-02: Tanker disruptions in the Strait of Hormuz rattle global supply chains, causing oil price surges. * 2026-03-02: JPMorgan warns oil could surge to $120 if the Iran war disrupts Gulf supply. * 2026-03-02: European gas prices jump 45% after Qatar halts LNG output due to Iranian attacks. * 2026-03-02: Iranian strike on Qatar triggers historic gas price surge, causing chaos in global energy markets. * 2026-03-02: Iran faces widespread internet disruptions following U.S.-Israeli cyberattacks. * 2026-03-02: Israel intensifies war on Lebanon after Hezbollah attack, triggering a humanitarian crisis. * 2026-03-02: Families take shelter in schools as Lebanon's government condemns Hezbollah's strike on Israel. * 2026-03-02: War widens to include Iranian-backed militias as Israeli and American planes strike Iran. * 2026-03-02: UK citizens are urged to prepare 72-hour survival kits amid escalating conflicts. * 2026-03-03: UK and France send warships and air defense assets to Cyprus after a drone attack. * 2026-03-04: Report: US in talks with Iranian Kurds for CIA-backed uprising. * 2026-03-04: CNN reports CIA advancing covert plan to arm Iranian Kurdish forces for a ground raid in western Iran. * 2026-03-04: Lawmakers anticipate Trump will seek emergency funding for 'open-ended' Iran war. * 2026-03-04: Dwindling weapons stocks could affect the Iran conflict, raising concerns about Western military strategy. * 2026-03-04: Physicist lawmaker warns the US lacks a clear plan for Iran’s enriched uranium and notes depletion of THAAD interceptors. * 2026-03-26: A think tank warns that Israel and the U.S. are running low on interceptors as the Iran war drains stocks. ## What to Watch * Further escalation in the Strait of Hormuz, potentially leading to closure and severe global economic consequences. * The potential for a CIA-backed Kurdish uprising in Iran and its impact on regional stability. * The ability of the US and its allies to replenish depleted weapons stockpiles and maintain defense readiness.