The US and Israel launched a devastating military campaign against Iran on Feb. 28, killing Supreme Leader Ayatollah Ali Khamenei and triggering a regional war that lasted 39 days. The conflict killed thousands, displaced hundreds of thousands, and sent global oil prices surging as Iran blocked the Strait of Hormuz, through which passes a significant portion of the world's oil and natural gas supply.

Mojtaba Khamenei, 56, succeeded his father as supreme leader, maintaining continuity despite US opposition. The war saw Iran strike US bases in Qatar, Kuwait, and the UAE, killing six American soldiers in Kuwait. Israel's attacks on Iran's South Pars gas field and Qatar's Ras Laffan Industrial City disrupted global energy markets, while Iran's targeting of shipping in the Strait of Hormuz further rattled markets.

After weeks of escalating attacks, including the downing of a US F-15E fighter jet, President Trump announced a two-week cease-fire on April 7. The conflict exposed vulnerabilities in US air defenses and highlighted the fragility of global energy supplies. With thousands dead and regional stability shattered, the war's economic and geopolitical consequences will reverberate long after the fighting stops.