Iran suffers heaviest strikes to date, despite markets betting war ends soon

The United States and Israel launched what officials and witnesses described as the most intense airstrikes of the war on Iran, as Tehran fired missiles toward central Israel and Iran-aligned forces expanded drone attacks on U.S. bases in the Gulf. The escalation deepened fears over energy security in the Strait of Hormuz after Iran’s Revolutionary Guard threatened to block oil shipments unless the strikes stop.

Israel’s military said it began “an additional wave of strikes” on targets in Tehran shortly after explosions were heard in the Iranian capital. “The IDF has begun an additional wave of strikes on Iranian terror regime targets in Tehran,” the military said on its official Telegram channel.

- Advertisement -

U.S. Defense Secretary Pete Hegseth said Wednesday would be “our most intense day of strikes inside Iran: the most fighters, the most bombers, the most strikes, intelligence more refined and better than ever.” President Donald Trump later wrote on his Truth Social platform that U.S. forces had “completely destroyed” 10 of Iran’s “inactive” mine-laying vessels, without specifying where.

Iranian state media reported new barrages on U.S. military installations in Bahrain after overnight drone attacks targeted American troops at Al Dhafra air base in the United Arab Emirates and the Juffair naval base in Bahrain. There was no immediate U.S. confirmation of damage or casualties.

Waves of Iranian missiles were also fired at central Israel. Air raid sirens sounded before dawn and the thud of interceptors echoed across cities as residents rushed to shelters. There was no immediate word on whether any missiles reached the ground.

The latest Iranian attacks coincided with a renewed Israeli bombardment of Beirut aimed at degrading Hezbollah, the Iran-backed group that has been firing into Israel from Lebanon in support of Tehran.

Tehran residents reached by Reuters described the heaviest bombardment of the war. “It was like hell. They were bombing everywhere, every part of Tehran,” one resident said by phone, adding that children were too afraid to sleep.

The White House repeated Trump’s warning of severe retaliation if Iran seeks to choke off energy supplies and reiterated the U.S. Navy’s offer to escort tankers through the Strait of Hormuz, where the war has effectively halted one-fifth of the world’s oil and liquefied natural gas shipments.

Market reactions reflected bets that the White House will try to end the conflict quickly. After an early-week surge near $120 a barrel, Brent crude settled back below $90 on Tuesday. Asian and European shares recovered some losses from earlier steep declines, and Wall Street traded around late-February levels. White House press secretary Karoline Leavitt said fuel prices would drop “rapidly” once the joint U.S.-Israeli air campaign’s objectives are met.

A source familiar with Israel’s war plans told Reuters the military aimed to inflict as much damage as possible before a potential pause, assuming Trump could call an end to the campaign at any time.

Iranian officials publicly rejected talk of a cease-fire. “Certainly, we are not seeking a ceasefire; we believe the aggressor must be struck in the mouth so that they learn a lesson,” Parliament Speaker Mohammad Baqer Qalibaf posted on X. Foreign Minister Abbas Araqchi told PBS that Tehran was unlikely to resume negotiations with the United States.

A Revolutionary Guard spokesperson vowed that not “one litre” of Middle Eastern oil would reach the U.S. or its allies while strikes continue. “We are the ones who will determine the end of the war,” the spokesperson said.

Inside Iran, authorities warned against renewed domestic unrest. Police chief Ahmadreza Radan said “anyone taking into streets at the enemy’s request will be confronted as an enemy not protestor,” adding that “all our security forces have their fingers on the trigger.”

Iran’s U.N. ambassador, Amir Saeid Iravani, said more than 1,300 civilians have been killed since U.S. and Israeli airstrikes began on Feb. 28. He said nearly 8,000 homes and 1,600 commercial and service centers were destroyed, along with dozens of medical, educational and energy facilities. Iran’s strikes on Israel have killed 12 people, while dozens have died in Israeli attacks on Lebanon, according to local authorities in each country.

The Pentagon said about 140 U.S. troops have been wounded in the conflict in addition to six soldiers killed in the opening days. It previously reported eight service members were seriously injured.

With missiles flying and oil routes at risk, Washington and Jerusalem pressed their air campaign while Tehran signaled it would fight on. Whether the conflict edges closer to a negotiated halt now hinges on decisions in all three capitals — and on whether the world’s most critical energy chokepoint can stay open.

By Abdiwahab Ahmed
Axadle Times international–Monitoring.