Israel launched a new wave of strikes on Iran, intensifying a conflict that has triggered one of the worst global energy crises in decades. Explosions were reported in Tehran, while Gulf countries including Saudi Arabia and the UAE intercepted missiles and drones, as tensions spread across the region.
The scale of damage is mounting, with at least 40 key energy assets severely affected, according to Fatih Birol of the International Energy Agency. The war, now in its fourth week, has significantly disrupted oil supply, with an estimated 11 million barrels per day lost—surpassing levels seen during the oil crises of the 1970s.
Iran has retaliated with missile and drone attacks targeting Israel, Gulf energy facilities, and US-linked sites, while tightening control over the Strait of Hormuz. With oil prices hovering above $100 per barrel, Donald Trump has threatened to destroy Iranian power plants if Tehran fails to reopen the waterway within a 48-hour deadline.
Tehran has responded with strong warnings, as parliament speaker Mohammad Bagher Ghalibaf declared that critical infrastructure across the Middle East would become legitimate targets if US threats are carried out. Iran is also considering imposing tolls on ships passing through the strait, signaling long-term disruption to global shipping routes.
Meanwhile, the conflict continues to widen, with Benjamin Netanyahu warning of prolonged military operations against Iran and its allies, including Hezbollah in Lebanon. Recent Iranian missile strikes have hit southern Israeli towns such as Dimona, raising concerns over attacks near sensitive nuclear facilities and underscoring the growing risks of a broader regional war.
