Israel hits Tehran with airstrikes on Persian New Year as war jolts energy markets –

Israel hits Tehran with airstrikes on Persian New Year as war jolts energy markets
Israel has pounded Tehran with airstrikes as Iranians mark Nowruz, or the Persian New Year

Iran kept up its wave of attacks launched at Israel that have sent millions of people to shelters, with sirens sounding across a wide swath of the north, from Haifa to the Galilee to the border with Lebanon.

It came after an intense day that saw more than a dozen missile launches on Thursday alone, according to Israel’s military.

Global fuel supplies have been under intense pressure because of Iran’s stranglehold on the Strait of Hormuz, a strategic waterway through which a fifth of the world’s oil is transported.

Israeli Prime Minister Benjamin Netanyahu said late Thursday that, at the request of President Donald Trump, Israel will hold off any further attacks on Iran’s offshore South Pars gas field. Iranian strikes in retaliation have led to already elevated global energy prices further surging and spurred Gulf allies to call for Trump to rein in Netanyahu.
Since the U.S. and Israel launched the war on Feb. 28, Iran’s top leaders have been killed and the country’s military capabilities have been severely degraded. Netanyahu said in a televised address that Iran no longer has the ability to enrich uranium or make ballistic missiles, although he did not provide evidence.

Still, Iran — now led by the son of the supreme leader killed in the war’s opening salvo — remains capable of missile and drone attacks.

Brent crude oil, the international standard, briefly surged above $119 a barrel, up more than 60% since the war started. The European benchmark for natural gas prices also rose sharply and has roughly doubled in the past month.

U.N. Security Council meets over Iran’s attacks on Gulf states
The United Nations Security Council held an urgent closed meeting Thursday during which Gulf countries stressed the need for Iran to halt attacks on them, said Bahrain’s U.N. Ambassador Jamal Alrowaiei, the Arab representative on the U.N.’s most powerful body.
DUBAI, United Arab Emirates (AP) — Israel pounded Tehran with airstrikes Friday as Iranians marked Nowruz, or the Persian New Year, in the midst of a war that has sent shock waves through the global economy and risked drawing Iran’s Arab neighbors directly into the conflict.

Activists reported hearing strikes around Iran’s capital. The attacks came a day after Israel pledged to refrain from more strikes on a key Iranian gas field and Iran intensified attacks on oil and natural gas facilities around the Gulf.

Heavy explosions shook Dubai early Friday as air defenses intercepted incoming fire over the city, where people were observing Eid al-Fitr, the end of the holy Muslim fasting month of Ramadan, and mosques made the day’s first call to prayers.