Gulf War Intensifies: US Destroys Iranian Fleet, Tehran Launches Over 2,000 Missiles
DUBAI, UAE – The conflict in the Gulf entered its second week on Saturday with dramatic military escalation on both sides, as the United States announced the complete destruction of an Iranian naval fleet and Iran responded with its largest missile and drone barrage to date, severely disrupting global shipping and energy markets.
In a statement released late Friday, US Central Command (CENTCOM) confirmed that American naval forces had destroyed all 11 Iranian military vessels operating in the Gulf of Oman. The operation, described as a decisive action to secure one of the world's most critical waterways, targeted ships that US officials said had been harassing international maritime traffic for years. "The Iranian regime has harassed and attacked international shipping in the Gulf of Oman for decades. Those days are over," CENTCOM stated.
The Pentagon clarified that the operation was a direct response to the sinking of a US cargo vessel earlier in the week, which killed three American civilians.
Iran Launches 'True Promise 4' Retaliation
In a fiery response, the Islamic Revolutionary Guard Corps (IRGC) announced it had launched its 22nd wave of missile strikes against American and Israeli targets, codenamed Operation True Promise 4. Iranian state media, citing military officials, reported that over 2,000 drones and 600 missiles have been launched since the start of the war.
While the US military initially reported three service members killed in the opening days of the conflict, the toll has since risen. An Iranian drone strike on a civilian port in Kuwait killed six American soldiers, according to the Kuwaiti Ministry of Interior. Iran also claimed responsibility for a strike that damaged a US embassy compound in Kuwait, leading to its indefinite closure, and for attacks near the US consulate in Dubai. The conflict has also drawn in Lebanon, with the Israeli military issuing evacuation warnings for parts of Beirut and reporting ongoing clashes with Hezbollah fighters along the northern border.
Strait of Hormuz Paralyzed as Insurance Market Collapses
The most significant global impact of the escalation is the effective closure of the Strait of Hormuz, through which about 20% of the world's oil passes. An IRGC commander declared the strait "closed" to all vessels, threatening to set "ablaze" any ship attempting to transit without Iranian permission.
At least five tankers have been damaged in the strait this week, resulting in two crew member fatalities and leaving roughly 150 ships stranded, according to maritime security firm Ambrey. The escalating danger has triggered a crisis in the maritime insurance industry. Major providers have cancelled war risk coverage for vessels in the Gulf, effective March 5th, leaving shipowners scrambling for alternative coverage at vastly inflated prices.
War risk premiums have skyrocketed from approximately 0.2% of a vessel's value to as high as 1%, adding hundreds of thousands of dollars to the cost of a single voyage. An industry expert told Reuters that the private market is effectively refusing to underwrite the risk.
The disruptions have sent shockwaves through global energy markets. Brent crude futures jumped as much as 13% following the Iranian threats. The situation was further exacerbated by an Iranian attack that halted production at a major Qatari liquefied natural gas (LNG) facility, causing European and Asian gas prices to surge by nearly 50% and 39%, respectively.
In response to the unfolding economic crisis, President Donald Trump announced that the US government would offer political risk insurance for commercial ships operating in the Gulf and that the US Navy is prepared to escort tankers through the strait if necessary.
Gulf Allies Express Frustration with US
The conflict has opened a notable rift between the United States and its traditional Gulf Arab allies. Several Gulf officials, speaking on condition of anonymity, expressed deep frustration to international media that the US did not provide advance warning of its initial strikes on Iran. This lack of communication, they said, left their nations unprepared for the subsequent Iranian retaliation.
There is a growing sentiment among Gulf capitals that US military assets are primarily focused on defending Israel and American personnel, while Gulf nations have been left to deplete their own air defense inventories to intercept Iranian drones and missiles. Prince Turki al-Faisal, a former Saudi intelligence chief, publicly criticized the war, calling it "Netanyahu's war" in an interview with Al Jazeera.
International Community Calls for Restraint
The international response remains divided. An emergency UN Security Council meeting was convened late Friday, where Secretary-General António Guterres condemned the escalating violence and called for an immediate ceasefire. The European Union, along with the UK, France, and Germany, issued a joint statement urging all parties to show restraint and return to diplomatic negotiations.
Russia and China, however, condemned the initial US strikes, with their UN ambassadors describing them as "a pre-planned and unprovoked act of aggression." Australia and Canada voiced support for the US action, while the Arab League condemned Iran's retaliatory strikes on its member states as a violation of their sovereignty.