Tugboat Daily Brief - Iran-Israel Conflict - 2026-09-21
Iranian air defenses downed American drones in the Strait of Hormuz while the Pentagon acknowledged significant munitions depletion, prompting Washington to approve a $2.8 billion arms sale to Israel to sustain offensive operations. The escalation index rose to 51 as the conflict entered a phase of sustained attrition, characterized by proxy expansion and continued pressure on global trade routes despite stabilizing market volatility.
Key Developments
Iranian air defenses downed American drones near the Strait of Hormuz, prompting the Pentagon to confirm significant munitions depletion.
The…
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