The past week has been unlike almost any other in recent memory for global markets. The joint US–Israeli military campaign against Iran, launched on 28 February under the codename Operation Epic Fury, has rapidly escalated into what analysts are now describing as the most significant geopolitical shock to energy markets since the Gulf War.
The strikes began with coordinated airstrikes on military and government sites across Tehran, Isfahan, Qom, Karaj and Kermanshah, and reportedly resulted in the assassination of Supreme Leader Ali Khamenei.
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