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European Energy Markets
31JUL

Five Iranian cities hit on opening night

1 min read
09:44UTC

Joint US-Israeli airstrikes under Operation Roaring Lion / Epic Fury hit Iran's political capital, nuclear facilities, and regional military commands simultaneously on 28 February 2026.

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Key takeaway

Simultaneous strikes on five Iranian cities — including Qom — indicate a campaign targeting nuclear infrastructure, air defences, and leadership in a single coordinated package rather than a graduated escalation.

The geographic spread of the strike package — Tehran (political command), Isfahan (advanced nuclear and aerospace facilities), Qom (hardened underground enrichment site), Karaj (centrifuge component production), and Kermanshah (western military command) — indicates a campaign designed to achieve three simultaneous objectives: suppress air defences, degrade nuclear infrastructure, and decapitate political and military leadership.

Striking five cities in a single night requires a substantially larger air package than any previous US-Israeli operation against Iranian facilities. The 2007 Israeli strike on Syria's Al-Kibar reactor involved a single target. The April and October 2024 Israeli strikes on Iran were limited to specific radar and air-defence nodes. Roaring Lion / EPIC FURY operates at a categorically different scale.

The inclusion of QomIran's most politically sensitive religious city and home to the Fordow enrichment facility buried beneath it — signals that planners accepted the political cost of targeting a site with deep Shia religious significance. Previous Israeli operations avoided it precisely because of that framing risk. Its inclusion here suggests the nuclear objective overrode that constraint.

Kermanshah's targeting points to interdiction of Iranian ground force movements toward Iraq and degradation of western military district command capacity, limiting the ability to direct militia assets across the Iraqi border in the immediate aftermath.

Deep Analysis

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First Reported In

Update #2 · Five cities struck on opening night

Fraunhofer ISE energy-charts (redistributing Bundesnetzagentur SMARD under CC BY 4.0)· 28 Feb 2026
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Causes and effects
This Event
Five Iranian cities hit on opening night
Opening military action of a major US-Israeli strike campaign against Iran, representing a dramatic escalation of the broader conflict.
Led to
148 girls killed at Minab school strike
Roaring Lion strikes hit Minab school
Occurred 1 Mar 2026
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Assembly of Experts HQ destroyed in Qom
Roaring Lion strikes hit Assembly of Experts HQ
Occurred 1 Mar 2026
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IRGC closes Hormuz; 20% of world oil cut
IRGC closed Hormuz in retaliation for strikes
Occurred 1 Mar 2026
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Israeli strikes reach central Tehran
Israeli strikes expanded from initial military and nuclear targets to central Tehran administrative infrastructure
Occurred 1 Mar 2026
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Nine killed at Karachi consulate protest
US-Israeli strikes on Iran triggered Shia solidarity protests in Karachi that turned lethal when Pakistani security forces opened fire at the US consulate
Occurred 1 Mar 2026
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Three US troops killed; no details given
US military operations in the Iran conflict resulted in the first three American combat fatalities
Occurred 1 Mar 2026
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Protests reach Kashmir from Karachi
Iran-Israel-US conflict triggered solidarity protests in Kashmir
Occurred 1 Mar 2026
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Israel claims air supremacy over Iran
Air supremacy declaration is the culmination of the US-Israeli strike campaign that began with Operation Epic Fury/Roaring Lion
Occurred 1 Mar 2026
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Pentagon: war will last 'weeks not days'
US defence official's duration assessment directly references the ongoing strike campaign
Occurred 1 Mar 2026
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90 min; Pentagon produced zero evidence
Pentagon congressional briefing convened to justify strikes launched without congressional authorisation
Occurred 1 Mar 2026
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War powers vote; it cannot stop the war
War powers votes triggered by strikes launched without congressional authorisation
Occurred 1 Mar 2026
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India silent after Modi's Tel Aviv visit
India's silence on strikes is diplomatic positioning in response to the conflict
Occurred 1 Mar 2026
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Turkey braces for 1m Iranian refugees
Turkey's refugee infrastructure preparation driven by the Iran conflict
Occurred 1 Mar 2026
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South Africa silent on Iran strikes
South Africa's silence is a notable diplomatic non-response given its prior ICJ action against Israel
Occurred 1 Mar 2026
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Different Perspectives
Spain's LNG terminal operators
Spain's LNG terminal operators
Spain's 9,145 GWh terminal inventory is the largest single stock in the EU LNG network, an option value that can reroute cargoes wherever the winter strip pays best rather than a cavern gas obligation tied to a fixed date. That flexibility matters more as Germany's cavern shortfall pushes more of the winter security question onto import infrastructure.
European Commission
European Commission
Brussels holds the bloc to 90% on a flexible window while Germany, holding roughly a quarter of EU storage capacity, tracks toward missing its own lower 80% figure by 21 points. A national shortfall this size in the anchor market matters more to bloc security than the flexible timetable alone can absorb.
French power exporters and CRE
French power exporters and CRE
French day-ahead rose in step with Germany but by less, reopening a EUR 7-17 premium that makes northward export flows commercially attractive again after the EUR 43.09 discount evaporated in days. CRE separately authorised RTE and Enedis to buy flexibility locally, betting the coming winter's binding constraint is grid congestion rather than a shortage of firm capacity.
TTF trading desk
TTF trading desk
A visible national shortfall like Germany's 21-point gap is a directional signal, not noise, for a desk holding the summer-winter spread. TTF's flat EUR 58-60 range through this week's German price swings says the market has not yet chosen to reprice refill risk into the front of the curve.
German cavern and CCGT operators
German cavern and CCGT operators
German caverns kept buying prompt gas at TTF near EUR 58-60 through the inversion; the wind collapse to 2.4 GW then flipped the spark spread to plus EUR 29 and put turbines back in the same queue. Every day turbines win that bid, injection at a third of the 877 GWh/day pace needed falls further behind.
Slovakia
Slovakia
Slovakia says it dropped its hold-out on the 21st sanctions package only after Ursula von der Leyen personally signed written gas-price and supply guarantees. The Council of the European Union's own 17,238-character release on the package names neither Slovakia nor any guarantee, leaving Bratislava's account unconfirmed by the institutional record.