Israeli strikes hit Tehran and Beirut as Middle East conflict escalates and impacts global oil supply
The Israeli military said the strikes in Tehran targeted “terror regime infrastructure,” as the Iranian capital remains under sustained bombardment since the outbreak of hostilities on February 28.
The conflict, now in its third week, has expanded beyond Iran and Israel, with attacks reported across Lebanon, Iraq, and parts of the Gulf region.
Lebanese state media reported that Israeli airstrikes hit residential areas in Beirut’s southern suburbs, a stronghold of Hezbollah.
Authorities in Lebanon say more than one million people have been displaced since early March, with over 130,000 taking shelter in temporary facilities.
In Baghdad, a drone and rocket attack targeted the United States embassy, while a separate strike killed four people at a location reportedly hosting Iranian advisers.
The incidents mark a further escalation in Iraq’s involvement, long considered a proxy battleground between United States and Iran.
The conflict has also triggered significant disruption in global energy markets, with oil prices rising sharply amid attacks on infrastructure and shipping routes.
The Strait of Hormuz, a critical corridor for global oil supply, has seen reduced traffic as security risks intensify.
Repeated strikes on oil facilities, including sites in the United Arab Emirates and southern Iraq, have added to supply concerns.
Global oil prices have surged by more than 40 percent since the conflict began, with economic impacts already being felt in multiple regions.
Australia’s central bank cited rising fuel costs linked to the conflict as a factor in its decision to increase interest rates.
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