The article charts how US and Israeli strikes on Iran on 28 February 2026 escalated into a regional conflict with worldwide economic effects. The reported killing of Iran’s supreme leader, Ali Khamenei, and the effective closure of the Strait of Hormuz intensified the crisis, disrupting shipping and contributing to volatile oil prices.

The timeline follows six months of military attacks, threats, ceasefires and unsuccessful diplomatic efforts, with each apparent opening for de-escalation followed by renewed tensions. Hormuz is central because it normally carries about a quarter of global seaborne oil trade, with more than 100 vessels passing through daily; the analysis draws on conflict, shipping, oil-price and social-media data.