Overview
- The joint operation that began February 28 has widened into regional fighting with Hezbollah and strikes across Gulf states, leaving about 1,900 dead in Iran and more than 1,100 in Lebanon with millions displaced, and prompting Human Rights Watch to warn that the speed and spread of the war are straining laws meant to protect civilians.
- Iran has throttled traffic through the Strait of Hormuz, a chokepoint for about one-fifth of global seaborne oil, pushing crude up roughly 30% and European gas about 60% in recent weeks.
- Trump extended by ten days his suspension of attacks on Iran’s power plants to April 6 after earlier ultimatums to reopen Hormuz, as Iran’s foreign minister told the UN chief it could block vessels tied to enemies.
- In Spain, Friday’s open lifted the Ibex 35 back to 17,016 points as Brent hovered near $110 and the statistics agency said March inflation rose to 3.3% because fuel costs climbed.
- Argentina faced spillovers as U.S.-traded shares of its companies fell up to 4.6% on Thursday and sovereign bonds weakened ahead of a Treasury sale, while U.S. officials modeled a $200 oil scenario to gauge economic risks.