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BREAKING: Iran confirms "limited damage" from Israeli strikes on missile facilities.
State media promises "severe response" within hours.
This is the escalation pattern from Day 1:
Strike. Assess. Retaliate harder.
The cycle:
Oct 2024: Iran fires 180 missiles → Brent $72
Feb 28: US/Israel strikes Iran → Brent $73
Mar 4: Iran closes Hormuz → Brent $89 (+22%)
Mar 10: IEA releases 412M bbl → Market shrugs
Mar 15: Brent breaks $100 for first time since 2022
Mar 17: Israel hits missile sites → Brent $103.91
Hormuz has been closed 13 days.
Previous cycle: Iran's 180-missile barrage came
72 hours after Israel hit Beirut.
How much higher if Iran hits Israeli
energy infrastructure?