US-Israel Strikes Hit Iran, Escalating Conflict and Global Market Volatility

AI Summary

The US and Israel have launched overnight strikes on Tehran and other Iranian cities, targeting power infrastructure and causing a blackout. The conflict has led to increased volatility in global stock and oil markets, with Brent crude prices rising 2.98% to $115.93 a barrel.

The conflict between the US and Israel against Iran has entered its 31st day, with overnight strikes hitting Tehran and other cities, targeting power infrastructure in the Iranian capital and causing a blackout that has since been restored.

US President Donald Trump has stated that he wants to "take the oil in Iran", while Tehran has accused Washington of plotting a ground attack despite publicly pushing for a negotiated deal. Trump also mentioned that he is "pretty sure" a deal with Iran will be made.

In a diplomatic effort, Pakistan is set to host meaningful talks in the coming days, with the Pakistani Foreign Minister stating that regional foreign ministers discussed ways to bring an early end to the war.

The conflict has spread to other regions, with Saudi Arabia intercepting five ballistic missiles heading towards its Eastern province, and Kuwait reporting an attack on a service building and electric power plant, resulting in the death of an Indian worker.

The economic impact of the conflict is significant, with Brent crude prices rising 2.98% to $115.93 a barrel, and Asian markets experiencing a decline, including Indonesia's main stock index and Malaysia's FTSE Bursa Malaysia Top 100.