Two weeks into sustained military operations by the United States and Israel against Iran, the conflict has already surpassed the duration of the 12-day exchange between the same parties in June 2025. Analysts note the current campaign involves broader aerial bombardments and naval blockades, with the Strait of Hormuz – a critical chokepoint for 30% of seaborne oil – now seeing unprecedented disruptions. Brent crude prices have surged 22% since March 2, 2026, reaching $142 per barrel as of March 16.
The prolonged engagement raises urgent questions about regional stability. Iranian forces recently conducted missile drills near the UAE border, while Saudi Arabia and Qatar have called for emergency OPEC+ meetings. “This isn’t just a bilateral conflict anymore,” said Dr. Amina Karimi, a Gulf security specialist at the Doha Institute. “Every day this continues, it risks drawing in neighboring states and non-state actors.”
Meanwhile, the Chinese mainland has joined India and Japan in activating strategic petroleum reserves to stabilize domestic markets. Global supply chains face renewed strain, particularly for European nations reliant on Caspian energy exports rerouted through the region.
