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Iran-US Conflict Escalates with New Attacks on Israel, US Bases

Yahoo Finance •
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Iran launched a new wave of attacks Thursday targeting Israeli and American bases, with Iranian state television announcing strikes on U.S. facilities and air sirens sounding in Tel Aviv and Jerusalem. Israel responded with what it called a large-scale attack on Tehran's infrastructure, while also conducting targeted strikes in Lebanon against the Iranian-backed Hezbollah militant group. Explosions were reported in multiple locations across Tehran.

Brent crude prices have surged 15% since the conflict began, reaching their highest levels since July 2024 as Iranian attacks disrupt traffic through the Strait of Hormuz, through which about a fifth of the world's oil passes. The U.S. Navy sank an Iranian warship in the Indian Ocean Tuesday night, killing at least 87 sailors, prompting Iranian Foreign Minister Abbas Araghchi to warn that the United States would "bitterly regret" the action. The conflict has killed over 1,000 people in Iran, more than 70 in Lebanon, and around a dozen in Israel.

President Donald Trump praised U.S. military operations as Israel eased some restrictions, allowing workplaces to reopen with nearby shelters while schools remained closed. The conflict has disrupted global oil supplies, snarled international shipping, and stranded hundreds of thousands of travelers in the Middle East. Israel's Defense Minister revealed the offensive against Iran was originally planned for mid-2026 but was moved forward to February due to escalating tensions.