Iran Launches Missiles at Israel and Gulf States, Fueling Regional War and Oil Price Shocks

Tehran’s strikes on multiple fronts exacerbate Middle East turmoil and global energy disruptions

India, April 3: Iran launched a series of missile and drone attacks targeting Israel and Gulf Arab states, intensifying the ongoing Middle East conflict now entering its sixth week. Explosions were reported in key cities including Tehran and Isfahan, and Kuwait’s major oil refinery in Mina al‑Ahmadi was set ablaze, compounding fears over energy supply security. The United States is reinforcing its regional military presence, with aircraft carriers deploying to deter further escalation. The strikes have contributed to a surge in global oil prices as shipping through the Strait of Hormuz remains severely restricted. International calls for negotiations and a ceasefire have increased, with some nations advocating reopening critical maritime routes.

Oil Price