Operation Epic Fury Launches 1,700 Strikes on Iran — Hormuz Closure Sends Oil Futures Surging 13%

The United States and Israel launched Operation Epic Fury on February 28, conducting over 1,700 precision strikes against Iranian military infrastructure, nuclear facilities, and leadership compounds. Iran responded with ballistic missiles targeting Israeli territory and US bases across the Middle East. Within hours, Iranian Revolutionary Guard Corps naval units began deploying mines and fast-attack craft across the Strait of Hormuz, through which approximately 21% of global crude oil transits daily.

Brent crude futures surged 13% in overnight trading, breaching $80/bbl. Gold spiked above $5,350/oz as investors fled to safe havens. For cross-border investors with global operations, this is a direct threat to energy procurement and shipping logistics. Approximately 20 million barrels per day flow through Hormuz — any sustained disruption forces rerouting via the Cape of Good Hope, adding 10–14 days and $500,000–$1 million per voyage in additional freight costs.

The strategic exposure for cross-border supply chains is acute. Major energy-importing economies depend heavily on Gulf crude — with over 70% of East Asian crude imports routing through the strait (per EIA and Columbia CGEP data). The crisis accelerates the strategic case for overland pipeline capacity and alternative supply corridors, while strengthening the investment thesis for renewable energy infrastructure that reduces hydrocarbon import dependency.