Iran Conflict Timeline
Iran's president sets terms for ending the war as diplomatic contacts emerge
Iranian President Masoud Pezeshkian laid out terms for ending the war. China, Russia, and France have contacted Iran regarding a ceasefire. Analysts see a possible sign of de-escalation.
G7 agrees to explore naval escort convoys through Strait of Hormuz
G7 nations agreed to investigate joint naval escort operations through the Strait of Hormuz. US Energy Secretary Chris Wright said the Navy could begin escorting commercial ships by end of March, potentially easing the oil supply crisis.
IEA authorizes record release of strategic oil reserves
The International Energy Agency authorized the largest coordinated release of strategic oil reserves in history to cushion the impact of the Strait of Hormuz blockade on global energy markets.
Commercial vessels struck in Persian Gulf as maritime attacks broaden
Three commercial vessels were struck within the Arabian Gulf in a single day, suggesting Iran is broadening its campaign of maritime disruption beyond the Strait of Hormuz.
US gas prices up 20% -- average hits $3.58/gallon
US gasoline prices surged 20% in less than two weeks, from $2.98 to $3.58 per gallon nationally. California prices exceeded $5/gallon. Economists warned prices could go higher.
QatarEnergy halts all gas production after Iranian drone attacks
QatarEnergy halted all gas production after Iranian drones attacked Qatari gas facilities. European natural gas prices nearly doubled in response, threatening heating and electricity costs worldwide.
Iran begins de facto blockade of Strait of Hormuz
Iran effectively blocked the Strait of Hormuz, through which 20% of the world's oil normally flows. Around 500 oil tankers were trapped in the Persian Gulf, creating the largest supply disruption in oil market history.
21,000+ flights cancelled as Middle East airspace closes
Over 21,000 flights cancelled across seven major airports including Dubai, Doha, and Abu Dhabi. Eight countries closed their airspace, stranding hundreds of thousands of travellers.
Dow drops 400+ points as markets react to Iran war
Global stock markets sold off sharply in the first trading day after strikes began. The Dow fell 400+ points. Oil and defense stocks rose while airlines and consumer stocks plunged.
Iran retaliates with missiles and drones against Israel and US bases
Iran launched retaliatory missile and drone strikes against Israel and US military bases in the region. Multiple countries in the Gulf saw missile activity.
US and Israel launch surprise airstrikes on Iran
Israel and the United States launched coordinated surprise airstrikes on military, nuclear, and government sites across Iran, killing Supreme Leader Ali Khamenei and other senior officials.