Iran War Heats Up for Sixth Day, Energy Risks Again Pressure Markets
The US–Israel war against Iran entered its sixth day with no sign of abating, with Tehran vowing to intensify retaliation amid rising oil prices. Arab states in the Middle East and Israel reported interceptions of Iranian missiles and drones through Thursday, while Qatar urged residents to remain indoors due to the high threat level.
Iran said it had attacked an oil tanker in the Persian Gulf, underscoring the growing risk to shipping in the energy-rich region. Israel continued a wave of airstrikes on Tehran targeting military and intelligence assets, following operations against Hezbollah in Lebanon. The death toll in Iran is said to have reached at least 1,200, with dozens more in the region.
Iran's Revolutionary Guard Corps said retaliatory strikes would intensify in the coming days. US President Donald Trump also took a defiant stance, while the White House said it had nearly “total control” of Iranian airspace. The conflict also widened geographically after Iran vowed to retaliate for the sinking of a warship off the coast of Sri Lanka, which was described as the first US submarine attack on a surface vessel since World War II.
The risk of a prolonged war is shaking markets: Brent rose near US$82 per barrel after surging about 13% in the first three days of the week. Gold continued its rally amid concerns of a protracted conflict, while the global bond selloff continued, with the 10-year Treasury yield rising for a fourth straight day.
Disruptions are also being felt in the transportation sector. The number of canceled flights to Middle Eastern hubs has reportedly surpassed 23,000 since the fighting began, stranding thousands of passengers in the Gulf region. Meanwhile, Iran has yet to name a new supreme leader following the death of Ayatollah Ali Khamenei, with a decision said to be taken "as soon as possible."
On the battlefield, Saudi Arabia said it intercepted several missiles and drones overnight, with many of the attacks targeting Al Kharj near Riyadh and the eastern region where Saudi Aramco facilities are located. Israel reported sirens sounding again around Tel Aviv and said there had been a decrease in the number of launches from Iran, but uncertainty remains high as the war has not shown a clear path to de-escalation. (alg)
Source: Newsmaker.id
