The conflict between Iran and Israel has intensified dramatically, with both sides exchanging missile strikes and escalating regional tensions. On Friday, Israel’s military launched strikes on regime targets in Tehran, while Iranian forces retaliated with missile attacks against Israeli positions.

A tragic incident in Tel Aviv saw a civilian killed by shrapnel from an Iranian cluster munition, triggering air raid sirens across central Israel including Jerusalem. The conflict has expanded regionally, with Houthi missile launches and attacks on Saudi Arabian air bases wounding U.S. military personnel.

The economic impact is severe, with oil prices surging and the Strait of Hormuz facing disruptions. Thailand and Indonesia have negotiated safe passage agreements with Iran for their oil vessels. U.S. Secretary of State Marco Rubio indicated military operations may conclude within weeks, though President Trump’s five objectives for the conflict remain partially unfulfilled.

Global markets have reacted sharply to the crisis, with energy supplies disrupted and inflation fears mounting across major economies.