Us And Israel Launch Strikes On Iran, Oil Prices Surge

On February 28, 2026, the situation escalated dramatically as the United States and Israel launched strikes on Iran, targeting its leadership and plunging the Middle East into a new conflict. President Donald Trump stated that the strikes aimed to eliminate a security threat and provide an opportunity for Iranians to challenge their rulers. In response, Tehran launched missiles towards Israel, raising fears of further escalation and instability in the region. This conflict has already impacted oil markets, with Brent crude closing at a seven-month high of $72.87 on Friday, reflecting the heightened tensions and fears of supply disruptions. Analysts predict that if the conflict continues, oil prices could soar to around $100 per barrel, potentially adding 0.6-0.7 percentage points to global inflation (Business Recorder, Global News).