US-Israel Strikes Degrade Iranian Missile Capabilities; Conflict Projected into April

U.S. and Israeli military forces have maintained a campaign of targeted strikes against Iranian missile and drone infrastructure over the last 24 hours. These operations, part of the broader 'Operation Epic Fury,' are designed to further degrade Tehran's ability to retaliate or disrupt maritime traffic. While no major new escalations were reported between March 20 and March 21, military analysts suggest the conflict could extend into April as the U.S. seeks to cripple Iranian defenses before transitioning to a more defensive regional posture. On the economic front, global energy markets are experiencing volatility but remain functional. U.S. strikes on Kharg Island have been described as limited in scope to avoid a total collapse of energy infrastructure, though Iranian domestic power disruptions have been reported following Israeli strikes on the South Pars gas field. These disruptions have contributed to increasing civilian instability within Tehran. Diplomatically, European allies have issued condemnations regarding Iranian maritime actions in the Strait of Hormuz. Meanwhile, neoconservative advisors to the Trump administration have outlined a de-escalation pathway that includes selective operations near nuclear sites or the Hormuz shoreline. Despite these projections, the administration has not issued fresh official statements regarding the timeline for the cessation of hostilities.