Israel Strikes Iran, Escalating Tensions and Oil Crisis

Israel has initiated a new wave of strikes against Iran, heightening regional tensions and raising concerns about a global energy crisis. The International Energy Agency's Executive Director, Fatih Birol, warned that the conflict could disrupt oil supplies significantly, with potential losses exceeding 11 million barrels per day, surpassing losses recorded during the 1970 oil crisis.

Oil prices have surged above $100 per barrel amid fears of prolonged supply disruptions. In retaliation, Iran has launched missile and drone strikes against Israeli energy sites.

Iranian Parliament Speaker Mohammad Bagher Ghalibaf indicated that key infrastructure across the region is under threat. The situation escalated further when U.S.

President Donald Trump issued a 48-hour ultimatum for Iran to reopen the Strait of Hormuz, threatening military action if not complied. Israeli Prime Minister Benjamin Netanyahu has indicated a long-term military campaign against Iran, while Lebanese authorities express concerns over the potential for broader conflict, with reports of significant casualties in Lebanon.