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By Malek Fouda
Crude prices have spiked to their highest levels in at least 14 years, exceeding $100 per barrel for the first time since 2022, as the Iran war ensnares countries critical to the production and movement of oil and gas from the Gulf.
Welcome to our live blog following the latest news out of the Middle East as the Iran war enters its 10th day.
Washington says its joint operations with Israel, which aim to destroy the country’s missile programme, naval capacity, ability to fund regional proxies and prevent Tehran from acquiring nuclear weapons, are going to plan and ahead of schedule.
Late on Sunday night, authorities in Iran announced that Mojtaba Khamenei, son of late Ayatollah Ali Khamenei, has been named as the country’s next supreme leader.
Iran is also continuing to launch its strikes on Israel and across several neighbouring Gulf states. The unrelenting attacks are causing global energy prices to spiral, with crude prices spiking more than 15% from their Friday closing levels.
Source: euronews.com
