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US, Israel launch fresh strikes on Iran; over 200 dead as oil prices surge

Tehran/Washington: The United States and Israel carried out fresh airstrikes on multiple locations in Iran on Monday, targeting ballistic missile facilities and naval assets, Iranian officials said, adding that more than 200 people have been killed so far.

The escalation comes days after the reported killing of Iran’s Supreme Leader Ali Khamenei, an incident that has sharply intensified hostilities in the region.

Trump claims major damage

US President Donald Trump claimed that nine Iranian naval vessels were destroyed in the strikes. He also indicated readiness to engage with Iran’s new leadership once it is in place.

Iran’s Foreign Minister Abbas Araghchi said a new Supreme Leader could be appointed within a day or two.

Conflict widens beyond three nations

The conflict has expanded beyond the US, Israel and Iran. Iran-backed Hezbollah launched missiles at Israel, prompting Israeli retaliatory strikes on Beirut, Lebanon.

Missile incidents were also reported in Gulf nations including the UAE, Kuwait and Bahrain, with civilian casualties confirmed. In Israel, nine people were killed in an attack on a synagogue.

European powers including the UK, France and Germany have signalled support for the US position, raising concerns of a broader regional confrontation.

Tehran on edge

Streets in Tehran remained largely deserted as residents stayed indoors amid fears of further air raids. Iranian authorities warned the US and Israel of severe retaliation, accusing them of crossing a “red line”.

In response, Trump said any Iranian retaliation would invite a force “the world has never seen before”.

Oil markets rattled

The escalating conflict has disrupted global energy supply chains. Attacks near the Strait of Hormuz — a critical route through which nearly 20% of the world’s oil passes — have restricted commercial shipping.

As a result, West Texas Intermediate (WTI) crude rose 7.3% to $72 per barrel, while Brent crude surged 7.8% to $78.55 per barrel on Monday.

Experts warn that if tensions persist, consumers worldwide may face rising fuel and commodity prices in the coming days.