The stakes could not be higher as Iranian officials have called the attack “ a declaration of war ” and vowed that destroyed nuclear facilities “would be rebuilt.” Israel, meanwhile has warned its campaign will continue “ for as many days as it takes .”

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Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran. Global investors may be underpricing the impact of a conflict between Israel and Iran, market watchers warned on Monday, as stocks rallied despite escalating warfare in the Middle East.

The deadly conflict between Israel and Iran has entered a fourth day, with both sides firing waves of missiles overnight. Follow for live updates.

Iranian news media and residents of Tehran say the damage from the latest Israeli strikes appears to be significant, with several apartment buildings badly damaged. Residents say they are hearing ambulance sirens and fire trucks racing to the scenes and rescue workers are working to find casualties in the rubble.

The war between Israel and Iran is in its fourth day, with Israel striking at military sites and Iran's nuclear program and Iran firing missiles in retaliation

As world leaders convene for the G7 summit in Alberta, Canada, on June 16, 2025, an escalating conflict between Israel and Iran will probably be one of the issues taking centre stage.

The price of Brent oil rose by over 11% week-on-week on Monday, related to the ongoing Iran-Israel armed conflict. While it stood at $66.2 on June 9, it reached $73.7 on Monday as of 0700GMT, up by 11.3%.