{"id":59367,"date":"2026-03-03T15:39:16","date_gmt":"2026-03-03T19:39:16","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown\/59367\/"},"modified":"2026-03-03T15:39:16","modified_gmt":"2026-03-03T19:39:16","slug":"iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown\/59367\/","title":{"rendered":"Iran Launches New Missile Wave as Leadership Crisis Deepens; Oil Markets Face Hormuz Shutdown"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown\/59367\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown\/59367\/#Escalation_of_the_Iran-Israel_Conflict\" >Escalation of the Iran-Israel Conflict<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown\/59367\/#Iranian_Leadership_in_Flux\" >Iranian Leadership in Flux<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown\/59367\/#Energy_Markets_and_the_Hormuz_Crisis\" >Energy Markets and the Hormuz Crisis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown\/59367\/#Regulatory_and_Labor_Developments\" >Regulatory and Labor Developments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-launches-new-missile-wave-as-leadership-crisis-deepens-oil-markets-face-hormuz-shutdown\/59367\/#Legislative_Response\" >Legislative Response<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Iran&#39;s IRGC launched a &quot;sixteenth wave&quot; of missile and drone attacks<\/strong> against Israel, significantly escalating the regional conflict following the death of Supreme Leader Ayatollah Ali Khamenei.<\/li>\n<li><strong>Iraq has begun shutting down major oil fields<\/strong>, including Rumaila and West Qurna 2, as the closure of the <strong>Strait of Hormuz<\/strong> halts exports; global oil prices have surged over <strong>8% to above $83 per barrel<\/strong>.<\/li>\n<li><strong>The FDA issued warning letters to 30 telehealth companies<\/strong>, including Hims &amp; Hers (<a href=\"\/stock\/HIMS\">HIMS<\/a>), over the illegal marketing of compounded <strong>GLP-1 weight-loss medications<\/strong>.<\/li>\n<li><strong>France deployed Rafale fighter jets and air defense systems<\/strong> to the United Arab Emirates to protect military bases and interests from Iranian retaliatory strikes.<\/li>\n<li><strong>Teamsters at DHL Express (<a href=\"\/stock\/DPW\">DPW<\/a>) voted 96% to authorize a strike<\/strong> if a new contract is not finalized by March 31, threatening a major disruption to global logistics.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Escalation_of_the_Iran-Israel_Conflict\"><\/span>Escalation of the Iran-Israel Conflict<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Islamic Revolutionary Guard Corps (<strong>IRGC<\/strong>) initiated a massive new wave of missile and drone strikes against Israel on Tuesday, according to Iranian state media. This latest assault, dubbed the &quot;sixteenth wave&quot; of <strong>Operation True Promise-4<\/strong>, comes as the region reels from the death of Supreme Leader <strong>Ayatollah Ali Khamenei<\/strong> in earlier US-Israeli strikes.<\/p>\n<p>In response to the escalation, French President <strong>Emmanuel Macron<\/strong> announced the deployment of <strong>Rafale fighter jets<\/strong>, air defense systems, and radars to the region. Macron warned that any Israeli land operation would constitute a <strong>&quot;dangerous escalation and a strategic error,&quot;<\/strong> even as French assets in the UAE were reportedly targeted by drone fire.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Iranian_Leadership_in_Flux\"><\/span>Iranian Leadership in Flux<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Iran\u2019s <strong>Assembly of Experts<\/strong> is currently holding a final vote to select a new Supreme Leader, with voting conducted remotely due to security concerns. The transition follows the death of Khamenei and several top security officials; reports indicate that the Assembly&#39;s physical headquarters in <strong>Qom<\/strong> was struck by US-Israeli forces during the electoral process.<\/p>\n<p>A <strong>Provisional Leadership Council<\/strong>, including President <strong>Masoud Pezeshkian<\/strong> and Chief Justice <strong>Gholamhossein Mohseni-Ejei<\/strong>, is managing state affairs until a permanent successor is named. While some regional diplomats suggest the new leadership could open a &quot;window to end the war,&quot; the ongoing military exchanges suggest a hardening of positions in the short term.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_and_the_Hormuz_Crisis\"><\/span>Energy Markets and the Hormuz Crisis<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Global energy markets are facing severe disruption as the <strong>Strait of Hormuz<\/strong> remains effectively closed to shipping. <strong>Iraq<\/strong>, OPEC\u2019s second-largest producer, has begun shutting down its massive <strong>Rumaila<\/strong> and <strong>West Qurna 2<\/strong> fields, taking approximately <strong>1.2 million barrels per day (bpd)<\/strong> offline. Officials warn that up to <strong>3 million bpd<\/strong> could be shuttered if the waterway remains impassable.<\/p>\n<p>Despite the export halt, Iraq\u2019s Oil Ministry stated that <strong>domestic refinery operations<\/strong> remain unaffected for now. Meanwhile, shipping data shows that <strong>Venezuela\u2019s total oil exports<\/strong> fell to <strong>737,000 bpd<\/strong> in February, a 6.5% decline. Notably, direct Venezuelan exports to <strong>Asia<\/strong> plummeted by <strong>67%<\/strong>, while shipments to the United States via Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>) saw a modest increase.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Regulatory_and_Labor_Developments\"><\/span>Regulatory and Labor Developments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the United States, the <strong>FDA<\/strong> has intensified its crackdown on the telehealth sector, issuing warning letters to <strong>30 companies<\/strong> for deceptive marketing of compounded <strong>GLP-1<\/strong> products. The agency alleges these firms, including Hims &amp; Hers (<a href=\"\/stock\/HIMS\">HIMS<\/a>), misled consumers by implying their compounded versions were identical to approved drugs like <strong>Ozempic<\/strong> and <strong>Wegovy<\/strong> from Novo Nordisk (<a href=\"\/stock\/NVO\">NVO<\/a>) and Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>).<\/p>\n<p>On the labor front, <strong>Teamsters<\/strong> representing thousands of workers at <strong>DHL Express<\/strong> (<a href=\"\/stock\/DPW\">DPW<\/a>) have authorized a strike with a <strong>96% majority<\/strong>. The union is demanding a fair contract by the <strong>March 31 deadline<\/strong>, refusing any further extensions. A strike would significantly impact international shipping and e-commerce fulfillment during an already volatile period for global trade.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Legislative_Response\"><\/span>Legislative Response<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>U.S. Senate Majority Leader <strong>Chuck Schumer<\/strong> announced that the Senate will vote tomorrow on an <strong>Iran War Powers Resolution<\/strong>. The resolution aims to require explicit congressional authorization for any sustained U.S. military participation in the conflict. This move reflects growing bipartisan concern over the lack of a clear exit strategy as the U.S. continues to support Israeli operations against the Iranian regime.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Iran&#39;s IRGC launched a &quot;sixteenth wave&quot; of missile and drone attacks against Israel, significantly escalating the regional conflict 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