LIVE | Oil prices soar again after latest developments in the war
Mojtaba Khamenei was hit during the attack that eliminated his father, but managed to survive and is in a "safe" place according to the son of the president of the ayatollahs' regime. The U.S. destroyed 16 Iranian minelayers and increases the force of bombing on Tehran, which continues to attack its neighbors and Israel.
A Tomahawk missile fired from the USS Frank E. Petersen Jr.
The twelfth day of conflict in the Middle East again dawned amid shelling. Israel and the U.S. hit Tehran hard, which also did not let up on its drone and missile attacks against Israel and the Gulf countries. After threatening Donald Trump, the ayatollahs' regime began to place mines in the Strait of Hormuz to completely prevent the passage of merchant ships, to which the U.S. responded by destroying 16 ships carrying out this mission.
The new supreme leader, Mojtaba Khamenei, is "safe and sound" in a "secret place of maximum security," but is wounded after being hit during the attack that cost the life of his father and predecessor, Ali Khamenei.
Meanwhile, oil prices rose again after the opening of European stock markets, following a down day in Asia. The latest movements in the war dissipated the joy generated by the International Energy Agency's announcement that strategic crude reserves will be tapped to guarantee supply during the conflict.
Oil prices soar again after latest developments in the war
Oil prices soared 5% after early trading on European markets in the wake of the escalation in the Middle East war, dispelling the optimism that prevailed during the Asian trading day.
In a volatile market, the Eastern stock exchanges closed in green for the second consecutive day in anticipation of a possible release of strategic crude oil reserves from the major consuming countries. According to a report in the Wall Street Journal, an injection exceeding the 182 million barrels that IEA member countries took out of the market in 2022 following the Russian invasion of Ukraine is expected.
However, after the opening of the old continent's markets, prices shot up again by 5%. A barrel of West Texas International (WTI), a U.S. benchmark, was $88.03, up 4.98%. North Sea Brent, meanwhile, was moving at 92.06 (+4.26%) dollars per barrel.
Encouraged by the moderation of crude oil prices, Asian stock markets consolidated on Wednesday their gains of the previous day after Monday's sharp drop. In Tokyo, the star index Nikkei closed up 1.43% to 55,025.37 points and, in Seoul, the Kospi rose 1.40%.
The Sydney Stock Exchange rose 0.59% and the Taipei, up 4.10%. Hong Kong's Hang Seng index was flat.
Iran's new supreme leader is "safe and sound" despite being wounded
Iran's new supreme leader, Mojtaba Khamenei, is "safe and sound"despite sustaining injuries in the war, the son of the Islamic republic's president said Wednesday.
"I heard the news that Mojtaba Khamenei had been injured. I asked friends who have contacts and they told me that, thank God, he is safe and sound," Yusef Pezeshkian, son of President Masud Pezeshkian and government adviser wrote on the Telegram social network.
Mojtaba Khamenei, 56, was reportedly wounded during the attack that killed his father and predecessor, Ayatollah Ali Khamenei, on the first day of the Israel-U.S. offensive that on Feb. 28 sparked the conflict, but details about the severity of his injuries are unknown and he has not appeared in public since.
Airlines start charging fuel surcharge for fuel price hike
Hong Kong aviation giant Cathay Pacific announced on Wednesday an increase in fuel surcharges as prices doubled in March from the average of the previous two months following the outbreak of war in the Middle East.
"In March, like since the Middle East episode started, our fuel costs have already doubled," said CEO Ronald Lam. "So we are going to announce (a surcharge hike) very soon...to ensure the smooth operation of our flights."
Iran to attack U.S. and Israeli economic centers and banks in the region.
The Iranian military said Wednesday it will from now on attack U.S. and Israeli economic targets in the region, after early morning attacks on an Iranian bank were reported.
"The enemy has given us free rein to attack economic centers and banks belonging to the United States and the Zionist regime," the Iranian army's operational headquarters, Khatam Al Anbiya said in a statement broadcast on state television.
Local media indicated that Israeli-American attacks hit a bank in Tehran early Wednesday morning, killing several employees who were working "exceptionally" to prepare for the payment of salaries.
Freighter hit by shell off UAE
A second commercial cargo ship was hit Wednesday by an unidentified projectile off the coast of the United Arab Emirates, a British maritime security agency said, as Iran persists in its attacks in the Gulf and the Strait of Hormuz.
"The captain of a bulk carrier has reported that his vessel was hit by an unknown projectile. No environmental impact has been reported.The crew are well and safe," the U.K.'s Maritime Trade Operations Department said.
CentCom confirms destruction of 16 Iranian minelayers in Hormuz.
The Central Command on Tuesday announced the destruction of 16 Iranian mining ships "near the Strait of Hormuz," following reports that Tehran was locating submarine explosives in the sea passage amid the Middle East war.
"U.S. forces removed multiple Iranian naval vessels, on March 10, including 16 minelayers near the Strait of Hormuz," CentCom noted in a posting on X, accompanied by video footage of several ships being hit by shells and exploding.
Everything that has happened in the war so far, here.
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