The Guardian’s interactive timeline shows how six months of US‑Israel strikes on Iran have fueled volatile oil prices and regional conflict
Executive summary: On 28 February 2026 the United States and Israel launched large‑scale strikes on Iran; Iran responded, and over the following six months the conflict expanded to include regional engagements and repeated fluctuations in global oil prices. The war has turned the Strait of Hormuz into a flashpoint, creating supply‑risk premiums that affect Brent and WTI benchmarks and influencing energy‑sector investment and hedging decisions worldwide.
Who is involved: Key actors include the United States (under President Trump), Israel, Iran’s leadership, OPEC members monitoring Hormuz traffic, and energy companies such as Paratus Energy and major oil traders.
Likely next: Continued diplomatic pressure may lead to a negotiated de‑escalation, while market watchers anticipate OPEC+ policy adjustments and potential releases of strategic oil reserves if prices fall further.
The article charts the escalation that began on 28 February 2026 when the United States and Israel launched large‑scale strikes on Iran, detailing Iranian counter‑moves and the consequent swings in Brent and WTI crude prices. By visualising each attack alongside oil‑price data, it makes clear how the war has turned the Strait of Hormuz into a persistent flashpoint for global energy markets. The piece is factual, drawing exclusively from publicly reported events and market figures, and avoids speculation about future outcomes.
Timeline
- — How the Iran war unfolded: every attack and oil price change – visualised (The Guardian — Business)
- — Oil Prices Head for a Weekly Loss Despite Escalating Iran Tensions (OilPrice)
Analysis — what this means
Sectors affected
- Crude oil production
- Oilfield services
- Maritime shipping through Hormuz
- Oil refining
Historical parallels
- 1973 Arab‑Israeli oil embargo
- 1990 Gulf War oil price shock
- 2019‑2020 US‑Iran tensions and oil price spike
Key entities
Sources
Open the full interactive case file on Beyond →