Israeli forces expanded their bombardment of Iran overnight, striking fuel depots near Tehran as fighting escalated on day nine of the Middle East conflict, while Iranian officials moved closer to naming a new supreme leader despite Israeli threat to kill any replacement for Ayatollah Ali Khamenei, said a report.
One week after the United States and Israel launched military strikes on Iran, plunging the Middle East into turmoil, President Donald Trump faces mounting questions over whether early battlefield gains can translate into a durable geopolitical victory, say experts.
Oil prices extended gains on March 30, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the US-Israel war with Iran in the Middle East.
The risk of an expanded Iran war grew as Yemen's Iran-aligned Houthis on Saturday launched their first attacks on Israel since the start of the conflict, as additional US forces reached the Middle East. The first of two contingents of Marines arrived on an amphibious assault ship.
At least 150 tankers, including crude and LNG vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz and dozens more were stationary on the other side of the chokepoint, shipping data showed, after US and Israeli strikes on Iran plunged the region into turmoil.
US President Donald Trump has indicated that the war with Iran could continue for up to four weeks, warning that further American casualties are likely as fighting intensifies across the region.
Iranian attacks have knocked out 17% of Qatar's liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy's CEO and state minister for energy affairs told Reuters.
Israel said on Tuesday it had killed Iran’s top security official Ali Larijani in an air strike, while Tehran signalled it was rejecting ceasefire overtures conveyed through intermediaries.
The repercussions of the joint military operation by the US and Israel against Iran and subsequent retaliatory action will see the further weaponisation of trade and shatter prospects of a large-scale return of container shipping to the Red Sea in 2026, said a leading logistics industry expert.
Israel and the United States have launched strikes on Iran on Saturday morning with explosions being reported in multiple Iranian cities including capital Tehran.
