By Nicole Goodkind and Rupert Steiner
President Donald Trump said in the early hours of Saturday morning that " major combat operations" had begun in Iran, in a video message posted on social media.
The U.S. and Israel launched a coordinated attack on Iran overnight, which Tehran retaliated against with missile and drone strikes targeting Israel and U.S. bases in the region, The Wall Street Journal reported. Iranian projectiles were aimed at installations in Qatar, Kuwait, the United Arab Emirates, and Bahrain, citing senior regional officials, the Journal reported. U.S. forces intercepted multiple incoming missiles.
Explosions were reported in Tehran and other cities, while air-raid sirens sounded across Israel. Oil tankers in the Persian Gulf have diverted from their routes amid fears of escalation, the Journal reported.
The U.S. military used both naval and air assets in the operation, a U.S. official told the Journal. In the weeks before the attack, the Pentagon had increased its presence in the Middle East, the Journal reported.
"A short time ago the United States military began major combat operations in Iran," Trump said. "Our objective is to defend the American people by eliminating imminent threats from the Iranian regime, a vicious group of very hard terrible people. Its menacing activities directly endanger the United States, our troops, our bases overseas and our allies throughout the world."
He said the aim was to ensure U.S. citizens would never be threatened by a nuclear-armed Iran.
The White House said Trump would not address the nation on Saturday after initial Journal reports indicated that he would.
Aviation across the region was quickly disrupted. Major international airlines suspended flights over large parts of the Middle East. Flight-tracking data showed airspace over Iran, Iraq, Kuwait and Israel largely cleared of commercial traffic. Dubai International Airport, the world's busiest hub for international travel, has halted departures and arrivals until further notice.
Energy markets are now bracing for volatility. Roughly one-fifth of the world's petroleum and liquefied natural gas supply passes each day through the Strait of Hormuz, a narrow chokepoint between Iran and Oman. Oil settled at $72.87 a barrel on Friday.
Oil prices are likely to rise when Asian markets open Sunday, said Joe Brusuelas, chief economist at RSM.
Another vulnerability is Kharg Island, Iran's primary oil export terminal. Shipments from the facility recently climbed to about three million barrels per day, well above January levels. Any disruption there could add to Brent crude's geopolitical risk premium. China, which buys the majority of Iranian oil exports, would be particularly exposed to sustained supply interruptions.
Iran has vowed a forceful response.
Sen. Mark Warner of Virginia, the top Democrat on the Senate Intelligence Committee, said on Saturday that the administration had "misrepresented intelligence" in making its case for military action. An aide to Warner said he was referring specifically to claims that Iran was nearing nuclear breakout capability and developing missiles capable of striking the United States.
Write to Nicole Goodkind at nicole.goodkind@barrons.com and Rupert Steiner at rupert.steiner@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 28, 2026 09:57 ET (14:57 GMT)
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