Tugboat Daily Brief - Iran-Israel Conflict - 2026-04-03
Coordinated US and Israeli strikes on Iranian military infrastructure in Tehran and Mashhad triggered a fourth wave of Iranian missile retaliation against the Haifa port. Global markets reacted with a sharp drop in oil prices and a surge in gold as the conflict escalated into direct state-on-state warfare with critical risks emerging for the Strait of Hormuz.
Key Developments
The US and Israel launched coordinated strikes on Iranian military bases in Tehran and Mashhad, escalating the conflict into direct state-on-state warfare.
Iran retaliated within six hours by launching a fourth wave of…
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