Iran launched fresh missile and drone attacks against Israel and several Gulf nations on Wednesday, targeting strategic locations including a Saudi oilfield, as global oil markets fluctuated amid fears that the widening conflict could disrupt energy supplies.
The escalation comes as the war triggered by joint United States–Israeli strikes on Iran on 28 February continues to expand across the Middle East.
Iranian authorities said the country carried out its “most intense and heaviest” missile barrage yet, firing rockets for about three hours toward cities across Israel.
Air raid sirens and explosions were reported in Jerusalem, while Israeli emergency services confirmed that several people were injured in Tel Aviv.
Iran’s Revolutionary Guards also claimed responsibility for strikes targeting Bahrain and Iraq’s Kurdistan region, both of which host significant United States military presence.
Iranian media reported that a United States air base in Kuwait was also targeted. Kuwaiti authorities said they intercepted eight drones.
Saudi Arabia’s defence ministry said drones and ballistic missiles heading toward the Shaybah oilfield were intercepted before reaching the facility.
Iran’s parliament speaker, Mohammad Bagher Ghalibaf, said Tehran would continue its offensive.
“We are not seeking a ceasefire,” Mr Ghalibaf said in a post on social media.
“We believe the aggressor must be punished and taught a lesson that will deter them from attacking Iran again.”
US warns Iran over Strait of Hormuz
The United States said it had destroyed Iranian vessels capable of laying mines in the Strait of Hormuz, one of the world’s most important oil transit routes.
The US military released video footage showing Iranian boats destroyed near the strait, through which about one-fifth of global oil supply passes.
US President Donald Trump warned that any attempt by Iran to mine the passage would trigger severe consequences.
“If for any reason mines were placed and they are not removed forthwith, the military consequences to Iran will be at a level never seen before,” Mr Trump wrote on social media.
The US president also said the military could escort oil tankers through the strait if necessary.
Oil prices and Global Economic concerns
The intensifying conflict has rattled global energy markets.
Crude oil prices briefly surged about five per cent on Tuesday before easing on Wednesday after reports that the International Energy Agency could approve a record release of emergency oil reserves.
Leaders of the Group of Seven (G7) nations are scheduled to hold an emergency video conference to discuss the war’s economic consequences, particularly its impact on global energy supplies.
The conflict has already triggered rising fuel prices, rationing in some countries and disruptions to economic activity.
The United Nations trade and development agency warned that higher fuel and food prices could hit the world’s poorest populations hardest.
Civilian impact and casualties
Iran’s health ministry said more than 1,200 people have been killed and over 10,000 civilians injured since the start of the war.
The Pentagon said seven US military personnel had been killed and about 140 injured.
In Tehran, residents reported fear and anxiety amid continued air strikes.
One resident said the constant bombardment remained distressing despite attempts to avoid civilian areas.
“The noise of the bombings is extremely disturbing,” she said.
Conflict spreads across the region
The war has expanded beyond Iran and Israel into several neighbouring states.
In Lebanon, Israeli air strikes targeting Iran-backed Hezbollah have killed hundreds and displaced large numbers of civilians.
Lebanese authorities reported new Israeli strikes in Beirut’s southern suburbs on Wednesday, while another attack in the southern town of Qana reportedly killed five people.
In Iraq, Iran-linked armed groups said five of their fighters were killed in air strikes they blamed on the United States.
The conflict has also affected global shipping routes. The United Kingdom maritime agency said an unidentified projectile struck a container ship off the coast of the United Arab Emirates.
Leadership changes in Iran
The war began after US-Israeli strikes on 28 February killed Iran’s long-time supreme leader, Ayatollah Ali Khamenei.
Iranian state media later announced that his son, Mojtaba Khamenei, had been named the country’s new supreme leader, although he has not yet appeared publicly.
Global ripple effects
The geopolitical shockwaves have extended far beyond the Middle East.
Countries such as Egypt have increased fuel prices by as much as 30 per cent due to rising global energy costs.
In Cairo, a mother of six, Om Mohamed, said ordinary families were already feeling the economic impact.
“We were barely getting by as it is. I don’t know how people will manage,” she said.
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