{"id":60535,"date":"2026-04-04T08:38:30","date_gmt":"2026-04-04T12:38:30","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-escalation-iran-launches-wave-93-missile-strike-on-tel-aviv-gas-prices-surge-38\/60535\/"},"modified":"2026-04-04T08:38:30","modified_gmt":"2026-04-04T12:38:30","slug":"middle-east-escalation-iran-launches-wave-93-missile-strike-on-tel-aviv-gas-prices-surge-38","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/middle-east-escalation-iran-launches-wave-93-missile-strike-on-tel-aviv-gas-prices-surge-38\/60535\/","title":{"rendered":"Middle East Escalation: Iran Launches &#8220;Wave 93&#8221; Missile Strike on Tel Aviv; Gas Prices Surge 38%"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Iran\u2019s IRGC launched &quot;Wave 93&quot; of &quot;Operation True Promise 4,&quot;<\/strong> utilizing <strong>cluster missiles and drones<\/strong> to target <strong>Tel Aviv<\/strong> and central Israel.<\/li>\n<li><strong>U.S. gasoline prices have surged 38%<\/strong> since the start of military operations in Iran, with the national average climbing as the <strong>Strait of Hormuz<\/strong> faces significant disruptions.<\/li>\n<li><strong>An Israel-linked vessel is on fire<\/strong> in the <strong>Strait of Hormuz<\/strong> following a <strong>drone strike<\/strong> by Iranian naval forces, further threatening global energy supply chains.<\/li>\n<li><strong>Shrapnel from Iranian cluster rockets<\/strong> fell in <strong>seven locations<\/strong> across central Israel, including a direct hit on a building in <strong>Bnei Brak<\/strong> for the second time.<\/li>\n<li><strong>Israeli forces conducted retaliatory raids<\/strong> in southern Lebanon, targeting the towns of <strong>Kafr Tibnit<\/strong> and <strong>Meidoun<\/strong> as the conflict broadens into a multi-front regional war.<\/li>\n<\/ul>\n<p>The <strong>Islamic Revolutionary Guard Corps (IRGC)<\/strong> intensified its military campaign against Israel on Saturday, launching what it described as a <strong>&quot;wide-ranging operation&quot;<\/strong> involving naval and air forces. Dubbed <strong>&quot;Wave 93&quot;<\/strong> under the broader <strong>&quot;Operation True Promise 4,&quot;<\/strong> the strikes utilized a combination of <strong>solid and liquid-fuel long-range missiles<\/strong> and <strong>suicide drones<\/strong>. Targets included strategic military positions and urban centers within the <strong>&quot;occupied territories&quot;<\/strong> and West Asia.<\/p>\n<p>In central Israel, the <strong>Israeli Home Front Command<\/strong> activated early warning alerts for <strong>Greater Tel Aviv<\/strong> following the detection of multiple launches from Iran. <strong>Israel&#39;s Channel 12<\/strong> reported that <strong>Iranian cluster missiles<\/strong> targeted the metropolitan area, with <strong>Israeli Radio<\/strong> confirming that shrapnel fell in at least <strong>seven different locations<\/strong>. A building in <strong>Bnei Brak<\/strong> was reportedly hit for the second time, marking a significant breach of urban air defenses.<\/p>\n<p>The maritime sector faced immediate fallout as the <strong>IRGC Navy<\/strong> confirmed it stopped and hit an <strong>Israel-linked vessel<\/strong> in the <strong>Strait of Hormuz<\/strong>. The ship was reportedly struck by a <strong>drone<\/strong> and remains <strong>on fire<\/strong>, according to Iranian state media. This escalation in the world\u2019s most vital oil chokepoint has sent shockwaves through energy markets, with <em>analysts warning of a potential total blockade of the waterway.<\/em><\/p>\n<p>Economic data released by the <strong>American Automobile Association (AAA)<\/strong> highlights the domestic impact of the conflict, noting that <strong>gasoline prices have risen by approximately 38%<\/strong> since military operations in Iran began on February 28. The spike in fuel costs is weighing heavily on consumer sentiment, benefiting energy giants like <strong>Exxon Mobil (<a href=\"\/stock\/XOM\">XOM<\/a>)<\/strong> and <strong>Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>)<\/strong>, while the <strong>United States Oil Fund (<a href=\"\/stock\/USO\">USO<\/a>)<\/strong> continues to see high volatility.<\/p>\n<p>On the northern front, the <strong>Israel Defense Forces (IDF)<\/strong> carried out two raids on the Lebanese towns of <strong>Kafr Tibnit<\/strong> and <strong>Meidoun<\/strong>. These strikes come as an advisor to <strong>Iran\u2019s Supreme Leader<\/strong> stated that Tehran has been <strong>&quot;preparing for this battle for years,&quot;<\/strong> suggesting that the current wave of &quot;surprises&quot; is part of a long-term strategic offensive. Defense contractors such as <strong>Lockheed Martin (<a href=\"\/stock\/LMT\">LMT<\/a>)<\/strong> and <strong>RTX Corporation (<a href=\"\/stock\/RTX\">RTX<\/a>)<\/strong> are seeing increased attention as <em>regional demand for advanced missile defense systems like the Iron Dome and Arrow-3 reaches critical levels.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Iran\u2019s IRGC launched &quot;Wave 93&quot; of &quot;Operation True Promise 4,&quot; utilizing cluster missiles and drones to target Tel [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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