The US-Israel joint military campaign against Iran (Operation Epic Fury) has entered its 13th day with no signs of de-escalation. Iran's new Supreme Leader Mojtaba Khamenei issued his first public statement, vowing to maintain the effective closure of the Strait of Hormuz as leverage and threatening to open new fronts if attacks persist. He demanded recognition of Iran's rights, reparations, and guarantees against future aggression for any peace deal.
Key escalations today:
Iranian forces launched missile barrages at Israel and targeted US-linked assets, with reports of attacks on oil tankers in the Persian Gulf and near Iraq's Basra port—several vessels set ablaze.
US and Israeli strikes continued on Tehran (smoke rising over the capital), IRGC bases, and nuclear-related sites. The Pentagon described today as potentially the "most intense day" of strikes inside Iran.
The Strait of Hormuz remains effectively blocked, with traffic down sharply (86% decline reported earlier), over 250 tankers anchored or diverted, and global oil flows disrupted (20% of world oil + significant LNG). Oil prices surged above $100/barrel again amid fears of prolonged chaos.
A US KC-135 refueling aircraft crashed in western Iraq (non-hostile cause), with rescue operations underway. US military officials admitted they are "not ready" to escort oil ships through the strait yet.
US Costs Update:
Pentagon briefing to Congress: The first 6 days of the war cost over $11.3 billion (mostly munitions), with ongoing daily expenses in the hundreds of millions. Additional supplemental funding requests (potentially tens of billions more) are expected soon, raising concerns about budgets, stockpiles, and taxpayer burden. No full congressional authorization for the extended campaign has been granted yet.
This conflict risks broader regional involvement (proxies like Hezbollah/Iraqi groups) and massive global economic fallout from energy disruptions—crypto markets may see safe-haven flows amid volatility.
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