Global oil prices have surged by more than 25% as the war involving Iran, the United States and Israel intensifies. The increase has pushed prices to their highest levels since mid 2022 amid fears of supply disruptions and instability in the Middle East.
In Iran, military and political leaders have pledged allegiance to Mojtaba Khamenei as the country’s new supreme leader following the killing of his father, Ayatollah Ali Khamenei. The development comes as the United States and Israel continue air strikes on several Iranian cities, including Tehran and Qom.
Reports from Iran say a major strike in eastern Tehran hit residential buildings and left at least 40 people dead. Iranian authorities say more than 1,200 people have been killed and about 10,000 injured since the conflict began.
Also Read: Mojtaba Khamenei Chosen as Iran’s New Supreme Leader After Death of Ali Khamenei
Meanwhile, diplomatic efforts are underway to ease tensions as Russian President Vladimir Putin and United States President Donald Trump discussed the conflict during a telephone call. Both leaders also talked about the war in Ukraine and its wider impact on global security and oil markets.
Leave feedback about this
You must be logged in to post a comment.