As US-Israel Campaign Intensifies With Iran's Nuclear Facility Strike, Global Energy Markets Face Critical Juncture, Israel Vows to Intensify Attack
Published on March 21, 2026.
Iran's nuclear agency did not specify the exact strike carried out or what munitions were used, nor did the IAEA's chief, Rafael Grossi, call for restraint to reduce the chance of a nuclear-related accident. Israel's defense minister, Israel Katz, has stated that the US and Israel plan to increase the pace of strikes in the week beginning Sunday. This follows Iran's attempted strike on Diego Garcia air base, which indicated Iran has missiles capable of reaching roughly 2,500 miles from its territory. Britain criticized Iran over an attempt to attack the Diego Garcia base, and the British government said U.S. bombers could also operate from bases such Diego Garcia for missions aimed at preventing attacks on shipping in the Strait of Hormuz. The Pentagon is also moving forces into the region, with reports indicating up to 2,000 more Marines could be deployed. The ongoing conflict and volatility in oil and gas markets, coupled with the Pentagon’s acknowledgment that early costs of the conflict surpassed $11 billion in just one week, could significantly impact the expected financial relief from tax tax refunded.
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