
<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>The Israeli Defense Forces&nbsp;<a href="https://x.com/IDF/status/1841155252428390707" rel="noreferrer noopener" target="_blank">said</a>&nbsp;Iran fired rockets at Israel just before 1 p.m. EDT—news that comes after the U.S. said it believed Iran was preparing to “imminently” launch missile strikes against Israel, potentially escalating the war in the Middle East.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>The IDF said Iran fired rockets in a&nbsp;<a href="https://x.com/IDF/status/1841155252428390707" rel="noreferrer noopener" target="_blank">post</a>&nbsp;on X, formerly known as Twitter, at 12:35 p.m. EDT.</p>



<p>In a follow up&nbsp;<a href="https://x.com/IDF/status/1841155252428390707" rel="noreferrer noopener" target="_blank">post</a>, Israel’s military said Israeli civilians are in bomb shelters.</p>



<p>Iran took responsibility for the attack—and warned it is only a “first wave”—saying it was retaliation for the killings of multiple Hezbollah leaders in a statement read on state television, the&nbsp;<a href="https://apnews.com/article/israel-lebanon-hezbollah-gaza-news-10-01-2024-eb175dff6e46906caea8b9e43dfbd3da" rel="noreferrer noopener" target="_blank">Associated Press</a>&nbsp;reported.</p>



<p>Daniel Hagari, an IDF spokesperson, said around 1:30 p.m. EDT that Israeli authorities believed there were no additional aerial threats from Iran, there were no reports of casualties and that Israel would respond to the attack.</p>



<p>Airspaces in Jordan and Iraq were closed following the attack, and the Israeli airports authority said its airspace was closed and flights were being redirected, the&nbsp;<a href="https://www.nytimes.com/live/2024/10/01/world/israel-lebanon-hezbollah" rel="noreferrer noopener" target="_blank">New York Times</a>&nbsp;reported—though the Israeli airspace&nbsp;<a href="https://www.nytimes.com/live/2024/10/01/world/israel-lebanon-hezbollah/5a2849f6-7571-5a04-b434-e663b4a830b4?smid=url-share" rel="noreferrer noopener" target="_blank">reopened</a>&nbsp;around 1:45 p.m. EDT.</p>



<p>A senior White House official said earlier on Tuesday the U.S. had “indications” Iran would launch a “ballistic missile strike against Israel” imminently, though the scale of the attack wasn’t clear,&nbsp;<a href="https://www.cnn.com/world/live-news/israel-lebanon-war-hezbollah-10-1-24-intl-hnk/index.html" rel="noreferrer noopener" target="_blank">CNN</a>&nbsp;reported.</p>



<p>The unnamed official told CNN the U.S. was “actively supporting” preparations to defend Israel against the expected attack, which would carry “severe consequences” for Iran.</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>Iranian officials warned they would retaliate against Israel for a strike last week that killed the longtime leader of Hezbollah,&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2024/09/28/hezbollah-leader-hassan-nasrallah-target-of-israels-beirut-strike-confirmed-killed/">Hassan Nasrallah</a>. Nasrallah was one of at least seven Hezbollah leaders killed in recent weeks as Israel has increased its attacks in Lebanon against Hezbollah. The attacks increased after Israel’s Security Cabinet&nbsp;<a href="https://x.com/IsraeliPM/status/1835890307763757535" rel="noreferrer noopener" target="_blank">updated</a>&nbsp;its objectives of war in mid-September to include “returning [Israeli]</p>



<p>residents of the north securely to their homes” amid intermittent Hezbollah strikes from across the border. As Israel’s attacks have ramped up against Hezbollah—which is largely funded by Iran and has been labeled a terrorist group by the U.S.—so have concerns about the conflict expanding to the wider Middle East. President Joe Biden called for a cease-fire Monday ahead of Israel launching “targeted ground raids” in southern Lebanon, and the United Nations Secretary-General Antonio Guterres&nbsp;<a href="https://www.un.org/sg/en/content/sg/statement/2024-10-01/statement-attributable-the-spokesperson-for-the-secretary-general-%E2%80%93-lebanon" rel="noreferrer noopener" target="_blank">said in a statement</a>&nbsp;Tuesday “an all-out war must be avoided in Lebanon at all costs, and the sovereignty and territorial integrity of Lebanon must be respected.”</p>



<h2 class="wp-block-heading" id="h-crucial-quote">Crucial Quote</h2>



<p>Hours after the attack ended, President Joe Biden&nbsp;<a href="https://x.com/MSNBC/status/1841212755790991498" rel="noreferrer noopener" target="_blank">said</a>&nbsp;it appeared to be “defeated and ineffective,” which he said was a testament to both the Israeli and U.S. militaries. He went on to say: “Make no mistake, the United States is fully fully fully supportive of Israel.”</p>



<h2 class="wp-block-heading" id="h-chief-critic">Chief Critic</h2>



<p>Guterres said in a statement&nbsp;<a href="https://x.com/antonioguterres/status/1841167889191112704" rel="noreferrer noopener" target="_blank">posted to X</a>&nbsp;shortly after Iran’s attack that he condemns “the broadening of the Middle East conflict with escalation after escalation. This must stop. We absolutely need a ceasefire.”</p>



<h2 class="wp-block-heading" id="h-big-number">Big Number</h2>



<p>10 million. That’s roughly how many civilians were targeted by the Iranian missile strike, the IDF&nbsp;<a href="https://x.com/IDF/status/1841159354914898024" rel="noreferrer noopener" target="_blank">said</a>&nbsp;on X. The IDF later&nbsp;<a href="https://x.com/IDF/status/1841205620709503051" rel="noreferrer noopener" target="_blank">said</a>&nbsp;it believed Iran launched more than 180 ballistic missiles.</p>



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<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



<p>On Monday, Israel began <a href="https://www.forbes.com/sites/mollybohannon/2024/09/30/israel-begins-ground-raids-in-southern-lebanon/">“targeted ground raids”</a> in a notable escalation of the fighting. The IDF said the raids were “limited, localized, and targeted … in southern Lebanon” against Hezbollah targets and infrastructure, and that the Israeli Air Force and Artillery will also conduct “precise strikes on military targets” in support of the raids.</p>


Iran fires around 180 ballistic missiles at Israel amid rising tensions

Iran Launches Missile Strike On Israel, Israeli Military Says


<p>Ismail Haniyeh, the top political leader of Hamas, was killed in Tehran early on Wednesday, Iranian officials said, as Hamas blamed Israel and accused it of carrying out the targeted assassination.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>Iran’s Revolutionary Guards said Haniyeh, who was in Tehran to attend the inauguration of Iran’s new president, was targeted at his place of residence—without offering additional details.</p>



<p>At first Hamas blamed an&nbsp;<a href="https://www.nytimes.com/live/2024/07/30/world/israel-gaza-war-lebanon-hezbollah/2d47fcf9-1bab-51df-9dc5-b31f024197de?smid=url-share" rel="noreferrer noopener" target="_blank">Israeli raid</a>&nbsp;but a follow up statement said Haniyeh was killed by an Israeli&nbsp;<a href="https://apnews.com/live/hamas-haniyeh-iran-israel-live-updates#00000191-0705-dae3-a7f3-8fd794c50000" rel="noreferrer noopener" target="_blank">airstrike</a>&nbsp;on his residence in Tehran.</p>



<p>A senior Hamas official, Moussa Abu Marzouk,&nbsp;<a href="https://en.irna.ir/news/85553813/Hamas-expresses-condolences-over-martyrdom-of-Ismail-Haniyeh" rel="noreferrer noopener" target="_blank">called</a>&nbsp;the purported assassination a “cowardly act” and warned it will not go unanswered.</p>



<p>Israeli military officials have refused to comment on the matter although the country usually does not publicly claim responsibility for assassinations carried out its intelligence service Mossad,&nbsp;<a href="https://apnews.com/live/hamas-haniyeh-iran-israel-live-updates#00000191-06f0-d60d-a19d-d6f4dca30000" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to the Associated Press.</p>



<p>Iran’s Supreme National Security Council held a rare emergency meeting at the home of the country’s supreme leader, highlighting the seriousness of incident, the New York Times&nbsp;<a href="https://www.nytimes.com/live/2024/07/30/world/israel-gaza-war-lebanon-hezbollah/c7a0250c-be85-5578-8df3-5229478ce902?smid=url-share" rel="noreferrer noopener" target="_blank">reported</a>.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">Crucial Quote</h2>



<p>Despite the Israeli government’s refusal to comment, the country’s Heritage Minister and far-right lawmaker Amichay Eliyahu&nbsp;<a href="https://x.com/Eliyahu_a/status/1818488933564473423" rel="noreferrer noopener" target="_blank">tweeted</a>&nbsp;about Haniyeh’s death and wrote: “This is the right way to clean the world from this filth. No more imaginary ‘peace’/surrender agreements, no more mercy for these sons of death&#8230;The iron hand that will strike them is the one that will bring quiet and a little comfort, and strengthen our ability to live in peace.”</p>



<h2 class="wp-block-heading" id="h-chief-critic">Chief Critic</h2>



<p>Palestinian Authority President Mahmoud Abbas—whose party Fatah has been Hamas’ political rival for several years—<a href="https://english.wafa.ps/Pages/Details/147559" rel="noreferrer noopener" target="_blank">condemned</a>&nbsp;Haniyeh’s killing saying it was a “cowardly act and a dangerous development.” Abbas then urged the Palestinian people to “unite, be patient and steadfast in the face of the Israeli occupation.”</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">What To Watch For</h2>



<p>Haniyeh was a key figure involved in the ongoing cease-fire and hostage release talks with Israel, mediated by Qatar, Egypt and the U.S., and his assassination is likely to further delay any deal.</p>



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



<p>Defense Secretary Lloyd Austin, who is on a diplomatic visit to the Philippines was&nbsp;<a href="https://www.youtube.com/watch?v=iTGaZUwrUGI" rel="noreferrer noopener" target="_blank">asked about</a>&nbsp;the Haniyeh’s killing by reporters on Wednesday and said “I don’t have anything for you on that.” Russia’s Deputy Foreign Minister Mikhail Bogdanov&nbsp;<a href="https://www.reuters.com/world/middle-east/russia-calls-killing-hamas-leader-unacceptable-political-murder-ria-reports-2024-07-31/" rel="noreferrer noopener" target="_blank">condemned</a>&nbsp;the incident saying “This is an absolutely unacceptable political murder, and it will lead to further escalation of tensions.”</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://apnews.com/article/iran-hamas-israel-30968a7acb31cd8b259de9650014b779" target="_blank" rel="noreferrer noopener">Hamas says its leader Ismail Haniyeh was assassinated in Tehran by an Israeli airstrike</a> (Associated Press)<a href="https://www.forbes.com/sites/siladityaray/"></a></p>


Hamas Political Leader Visits Tehran

Hamas Political Chief Ismail Haniyeh Killed In Iran—Militant Group Blames Israel


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Oil prices briefly surged Friday morning in the wake of Israel’s reported airstrike on Iran, and then quickly dropped following Iran state media’s apparent downplaying of those strikes, as conflict in the Middle East continues to leave behind lingering effects on already climbing oil and gasoline prices.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Brent Crude, an international benchmark, shot up nearly 2% Friday morning to a peak just under $88 per barrel, though the benchmark has since dropped to roughly $87.50, representing a marginal 0.5% uptick on the day.</p>



<p>National benchmark West Texas Intermediate also increased by roughly 2% Friday morning, following reports of an Israeli airstrike, though like the Brent, the WTI has also tapered off, dropping just above $83.50 per barrel.</p>



<p>AAA spokesperson Andrew Gross speculated international conflict could lead to instability in the oil market, saying in a&nbsp;<a href="https://gasprices.aaa.com/is-the-recent-climb-in-the-price-of-gas-about-to-stall/" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;on Thursday the “situation overseas with the war in the Middle East and Ukraine has the oil market on edge.”</p>



<p>While increases in the price of oil typically come with price hikes at the pump, analysts expect those effects on gasoline prices to be delayed, and multiple other factors could help swing the price of gas down from its $3.69 national average this week—its highest point since October, according to GasBuddy.</p>



<p>Patrick De Haan, head petroleum analyst for GasBuddy,&nbsp;<a href="https://twitter.com/GasBuddyGuy/status/1781303050570781081" rel="noreferrer noopener" target="_blank">said</a>&nbsp;he expects gas prices to hit $3.70 per gallon in the near future, though the return of U.S. oil refineries from scheduled maintenance and Iran’s state media’s apparent&nbsp;<a href="https://www.forbes.com/sites/jamesfarrell/2024/04/19/iran-downplays-israeli-strikes-and-may-not-launch-large-scale-retaliation/?sh=47337ea3f5d9">downplaying</a>&nbsp;of Israel’s attack, he said there’s “potential we’re nearing an end to the rise” in prices at the pump.</p>



<h2 class="wp-block-heading" id="h-contra">CONTRA</h2>



<p>Another positive sign for gas prices has been an increase in crude oil inventories, which shot up this week by 2.7 million barrels, to approximately 460 million barrels, though it remains 6 million barrels below its level this time last year, according to the Energy Information Administration. Andrew Gross also estimated gas prices could plateau as U.S. demand hits a typical low ahead of Memorial Day. Gasoline demand in the U.S. declined narrowly from 8.84 million barrels in the week ending April 5 to 8.81 million barrels last week, according to&nbsp;<a href="https://www.eia.gov/petroleum/weekly/gasoline.php" rel="noreferrer noopener" target="_blank">EIA data</a>, and is slightly below where it had been last April. Gross expects the national average gas price “may waffle a bit with small increases, some flat days, and even some price dips” as a result.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Israel&#8217;s military early on Friday&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/04/19/israeli-missiles-reportedly-strike-airbase-in-central-iran/?sh=43f5240f120f">reportedly</a>&nbsp;launched limited airstrikes in Iran, unnamed officials told&nbsp;<a href="https://www.nytimes.com/live/2024/04/18/world/israel-iran-gaza-war-news/blasts-are-reported-near-the-iranian-city-of-isfahan?smid=url-share" rel="noreferrer noopener" target="_blank">multiple</a>&nbsp;<a href="https://abcnews.go.com/International/live-updates/israel-gaza-hamas-war/?id=108860743" rel="noreferrer noopener" target="_blank">outlets</a>. The reported strikes came several days after Iran’s unprecedented drone and ballistic missile strike on Israel days earlier, which Israeli officials said caused only minor damage. Iran’s attack itself was in retaliation for Israel’s airstrike earlier this month on an Iranian embassy in Syria, which killed at least 16 people, including two senior military leaders. Iranian state TV dismissed Friday’s strike, blasting it as “Israeli and American media propaganda.” Israel has not officially claimed responsibility for any strikes on Iran. Tensions between Iran and Israel have boiled over in recent months in the wake of Israel’s invasion of Gaza, which has left over 33,000 Palestinians dead, according to the Hamas-run Gaza Health Ministry. Israel estimates another 1,200 people were killed in Hamas’ Oct. 7 attack on southern Israel. Earlier this week, Iranian President Ebrahim Raisi&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/04/17/iran-threatens-fierce-and-severe-response-if-israel-launches-tinest-invasion-in-response-to-weekend-attack/?sh=7eace4a1083b">threatened</a>&nbsp;“fierce and severe” retaliation for the “tiniest invasion” by Israel, though world leaders have urged both sides to de-escalate the situation.</p>


Oil pump with candle stick graph chart in the background. World Oil Industry

Oil Prices Spike—And Fall—As Iran Downplays Israel’s Reported Airstrikes: Here’s How That Could Affect Gas Prices


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>The Israeli military reportedly launched airstrikes targeting Iran early on Friday, in response to Tehran’s drone attack on its territory over the weekend, amid concerns about escalation between the two Middle Eastern nations.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>Citing unnamed Iranian officials, the New York Times&nbsp;<a href="https://www.nytimes.com/live/2024/04/18/world/israel-iran-gaza-war-news/blasts-are-reported-near-the-iranian-city-of-isfahan?smid=url-share" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;the strikes hit an airbase near the city of Isfahan in central Iran, while an unnamed “senior U.S. official” told&nbsp;<a href="https://abcnews.go.com/International/live-updates/israel-gaza-hamas-war/?id=108860743" rel="noreferrer noopener" target="_blank">ABC News</a>&nbsp;that Israel had launched a missile strike against Iran.</p>



<p>The Iranian state controlled Fars News Agency also reported explosions being heard near the Isfahan airport, but an official later told the state media that explosions were caused by air defense batteries firing at a&nbsp;<a href="https://www.irna.ir/news/85449584/%D8%B3%D8%B1%D8%AA%DB%8C%D9%BE-%D8%AF%D9%88%D9%85-%D9%85%DB%8C%D9%87%D9%86-%D8%AF%D9%88%D8%B3%D8%AA-%D8%B5%D8%AF%D8%A7%DB%8C-%D8%A7%D9%86%D9%81%D8%AC%D8%A7%D8%B1-%D9%86%D8%A7%D8%B4%DB%8C-%D8%A7%D8%B2-%D8%B4%D9%84%DB%8C%DA%A9-%D9%BE%D8%AF%D8%A7%D9%81%D9%86%D8%AF-%D8%A7%D8%B5%D9%81%D9%87%D8%A7%D9%86-%D8%A8%D9%87" rel="noreferrer noopener" target="_blank">suspicious object</a>.</p>



<p>On Iranian state TV, however, the country’s officials publicly&nbsp;<a href="https://www.haaretz.com/israel-news/2024-04-18/ty-article-live/five-idf-reservists-in-serious-condition-following-rocket-drone-strike-on-northern-israel/0000018e-eecd-daad-a3de-eeff299e0000?liveBlogItemId=11850594&amp;utm_source=site&amp;utm_medium=button&amp;utm_campaign=live_blog_item#11850594" rel="noreferrer noopener" target="_blank">dismissed</a>&nbsp;reports of the strike, calling it “Israeli and American media propaganda” and denied that an emergency meeting of the Supreme National Security Council had been convened.</p>



<p><a href="https://www.bloomberg.com/news/live-blog/2024-04-19/middle-east-latest?cursorId=6621F343688C0000" rel="noreferrer noopener" target="_blank">According to</a>&nbsp;Bloomberg, Israel had informed the U.S. officials on Thursday about its plan to carry out a strike on Israel in the following 24-48 hours.</p>



<p>Sources cited by&nbsp;<a href="https://www.nbcnews.com/news/world/live-blog/iran-israel-attack-live-updates-rcna148496/rcrd39372?canonicalCard=true" rel="noreferrer noopener" target="_blank">several</a>&nbsp;<a href="https://www.foxnews.com/world/israel-strikes-site-iran-retaliation-weekend-assault" rel="noreferrer noopener" target="_blank">outlets</a>&nbsp;referred to the retaliatory attacks as “limited” while a retired military general appearing on Israel’s Channel 12 said he believed it was a “symbolic attack” that may not force a response by the Iranians.</p>



<p>The Israeli military has refused to comment on reports of the attack so far.</p>



<h2 class="wp-block-heading">TANGENT</h2>



<p>Real time air traffic data on FlightRadar24 showed&nbsp;<a href="https://twitter.com/OrenCNN/status/1781132736423403933" rel="noreferrer noopener" target="_blank">several airplanes diverting</a>&nbsp;away from Iran just after the strikes were reported. FlightRadar24 then&nbsp;<a href="https://twitter.com/flightradar24/status/1781150391280750655" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;that Iranian authorities had issue a notification informing pilots that the airports in Isfahan, Shiraz and the national capital Tehran were closed. Budget Emirati carrier Fly Dubai&nbsp;<a href="https://www.khaleejtimes.com/world/mena/flydubai-airline-cancels-flights-to-iran-statement" rel="noreferrer noopener" target="_blank">confirmed</a>&nbsp;receiving the notification and announced the cancellation of its flights to Iran. The notices of closure at all three airports were&nbsp;<a href="https://twitter.com/flightradar24/status/1781194845991633032" rel="noreferrer noopener" target="_blank">lifted</a>&nbsp;a few hours later.</p>



<h2 class="wp-block-heading">CRUCIAL QUOTE</h2>



<p>An unnamed Israeli official cited by the Washington Post said the attack “was intended to signal to Iran that Israel had the ability to strike inside the country.”</p>



<h2 class="wp-block-heading">WHAT TO WATCH FOR</h2>



<p>The extent of the damage from the attack remains unclear. Iranian authorities said nuclear facilities located near Isfahan <a href="https://www.irna.ir/news/85449584/%D8%B3%D8%B1%D8%AA%DB%8C%D9%BE-%D8%AF%D9%88%D9%85-%D9%85%DB%8C%D9%87%D9%86-%D8%AF%D9%88%D8%B3%D8%AA-%D8%B5%D8%AF%D8%A7%DB%8C-%D8%A7%D9%86%D9%81%D8%AC%D8%A7%D8%B1-%D9%86%D8%A7%D8%B4%DB%8C-%D8%A7%D8%B2-%D8%B4%D9%84%DB%8C%DA%A9-%D9%BE%D8%AF%D8%A7%D9%81%D9%86%D8%AF-%D8%A7%D8%B5%D9%81%D9%87%D8%A7%D9%86-%D8%A8%D9%87" target="_blank" rel="noreferrer noopener">were safe</a>. The International Atomic Energy Agency also <a href="https://twitter.com/iaeaorg/status/1781196309329793463" target="_blank" rel="noreferrer noopener">confirmed</a> this while calling for restraint and saying “nuclear facilities should never be a target in military conflicts.”</p>



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



<p>On Wednesday, Iran’s President Ebrahim Raisi&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/04/17/iran-threatens-fierce-and-severe-response-if-israel-launches-tinest-invasion-in-response-to-weekend-attack/?sh=447e1fd11083">warned</a>&nbsp;that any military incursion by Israel would be met with a severe response. Over the weekend, Iran launched hundreds of drones and ballistic missiles targeting Israeli territory in an unprecedented attack. Israel claimed the strikes resulted in only minor damages as its military—along with U.S. and other allied forces in the region—were able to&nbsp;<a href="https://www.nytimes.com/live/2024/04/13/world/israel-iran-gaza-war-news/611216e4-0347-518a-bd58-51184c463120?smid=url-share" rel="noreferrer noopener" target="_blank">shoot down 99%</a>&nbsp;of the missiles and drones. Iran said its attack was in response to an Israeli airstrike on its diplomatic compound in Damascus that resulted in the deaths of 16 people—including two senior military leaders.</p>



<h2 class="wp-block-heading">FURTHER READING</h2>



<p><a href="https://apnews.com/article/iran-israel-mideast-tensions-4-19-2024-a7ccbae2e2844bab089e8e4377a24ddb" rel="noreferrer noopener" target="_blank">Iran fires air defense batteries at Isfahan air base and nuclear site after drones spotted</a>&nbsp;(Associated Press)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/2024/04/17/iran-threatens-fierce-and-severe-response-if-israel-launches-tinest-invasion-in-response-to-weekend-attack/?sh=447e1fd11083">Iran Threatens ‘Fierce And Severe’ Response If Israel Launches ‘Tinest Invasion’ In Response To Weekend Attack</a>&nbsp;(Forbes)</p>


Iranian official TV confirms ‘massive explosions’ in central Isfahan province

Israeli Missiles Reportedly Strike Airbase In Central Iran


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>The price of bitcoin dropped by 7% on Saturday over the course of less than an hour, as prices for other cryptocurrencies also sharply declined after Iran launched an attack on Israel.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The price of bitcoin was&nbsp;<a href="https://www.forbes.com/digital-assets/assets/bitcoin-btc/?sh=57fc0c8a4357">down</a>&nbsp;7% to $62,570 as of 4:40 p.m. Saturday afternoon, after the cryptocurrency briefly fell to a low on the day of $60,908 minutes earlier.</p>



<p>The price of ethereum fell over 9% to $2,923, while prices for Binance coin and solana dropped 9% and nearly 18%, respectively.</p>



<p>Prices for several less-traded cryptocurrencies dropped by at least 15%, including avalanche (20%), XRP (20%) and the meme token dogecoin (18%).</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$73,750. That’s what the&nbsp;<a href="https://www.forbes.com/advisor/in/investing/cryptocurrency/bitcoin-down-to-64000-after-record-high/">price</a>&nbsp;for bitcoin was on March 24, the all-time high price for the cryptocurrency.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Concerns over increased geopolitical conflict in the Middle East have impacted U.S. markets in recent days. The Dow Jones Industrial Average&nbsp;<a href="https://www.cnn.com/2024/04/12/investing/stocks-oil-banks-geopolitics/index.html" rel="noreferrer noopener" target="_blank">dropped</a>&nbsp;by 475 points Friday, after the White House said the U.S. and Israel were preparing for a potential attack by Iran. JPMorgan Chase CEO Jamie Dimon told investors geopolitical conflict was cause for concern, noting it could “be determinative on what happens to the global economy if oil and gas prices go too high,” CNN&nbsp;<a href="https://www.cnn.com/2024/04/12/investing/jpmorgan-chase-bank-earnings-q1/index.html" rel="noreferrer noopener" target="_blank">reported</a>.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/jamesfarrell/2024/04/13/iran-launches-drone-attack-on-israel/?sh=343044cb2130">Iran Launches Drone Attack On Israel</a> (<em>Forbes</em>)<a href="https://www.forbes.com/sites/tylerroush/"></a></p>


Iran-Reaction, IRGC Missile And UAV Attack On Israel

Bitcoin Plummets After Iran Launches Attack On Israel


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Iran’s long-anticipated attack on Israel has started, as the country has launched unmanned aerial vehicles from within Iran set to reach Israel in the next “several hours,” the <a href="https://twitter.com/IDF/status/1779242779182288964" target="_blank" rel="noreferrer noopener">Israel Defense Forces</a> confirmed Saturday afternoon.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>In a press conference, IDF spokesperson&nbsp;<a href="https://twitter.com/SkyNews/status/1779241449889919327" rel="noreferrer noopener" target="_blank">Daniel Hagari</a>&nbsp;said the IDF is going to “try to prevent them from reaching Israeli territory.”</p>



<p>He added the IDF would inform the public of additional threats if necessary, while the IDF is on “high alert and is constantly monitoring the operational situation”—Iran has also launched cruise missiles in addition to the drones, according to&nbsp;<a href="https://www.cnn.com/middleeast/live-news/israel-hamas-war-gaza-news-04-13-24/h_459325a36ff45ef1b197dc12352d75ce" rel="noreferrer noopener" target="_blank">CNN</a>, citing Israeli media.</p>



<p>The&nbsp;<a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/13/statement-from-nsc-spokesperson-adrienne-watson-on-attacks-against-israel/" rel="noreferrer noopener" target="_blank">White House</a>&nbsp;issued a statement confirming Iran’s “airborne attack against Israel,” noting President Joe Biden is being “regularly updated on the situation” by national security officials and is in “constant communication” with Israel and other allies.</p>



<p>The Islamic Revolutionary Guard Corps reportedly confirmed the strikes in a statement read on Iranian state media, according to<a href="https://www.cnn.com/middleeast/live-news/israel-hamas-war-gaza-news-04-13-24/h_885917fe5b91668450e443aab2c20d29" target="_blank" rel="noreferrer noopener"> CNN</a> and the <a href="https://www.nytimes.com/live/2024/04/13/world/israel-iran-gaza-war-news" target="_blank" rel="noreferrer noopener">New York Times</a>, claiming it had launched “dozens of drones and missiles” toward “certain targets in the territories of the Zionist regime.”</p>



<div class="wp-block-media-text is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="705" src="https://cms.forbesafrica.com/wp-content/uploads/2024/04/GettyImages-2147801988.jpg" alt="" class="wp-image-61656 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/04/GettyImages-2147801988.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/04/GettyImages-2147801988-300x207.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/04/GettyImages-2147801988-768x529.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure><div class="wp-block-media-text__content">
<p><strong><em>An Iranian man is sitting on a sidewalk in downtown Tehran, Iran, on April 14, 2024, holding a Jam-e Jam daily newspaper that features an illustrated image of Iran&#8217;s Islamic Revolutionary Guard Corps (IRGC) missile and UAV attack. He is looking on as Iran launches dozens of Unmanned Aerial Vehicles (UAVs) and missiles against Israel in response to the Israeli attack on its Consulate in Damascus. (Photo by Morteza Nikoubazl/NurPhoto via Getty Images)</em></strong></p>
</div></div>



<p>The attacks have been&nbsp;<a href="https://www.forbes.com/sites/jamesfarrell/2024/04/13/everything-we-know-about-a-potential-iranian-attack-on-israel-as-us-suggests-strike-is-imminent/?sh=1a2984c665a9">highly anticipated</a>&nbsp;following a strike on an Iranian embassy in Syria—which Iran blamed on Israel—that killed several Iranian military officials, prompting global concern that an Iranian strike could widen tensions across the region amid the ongoing Israel-Hamas war.</p>



<p>Just ahead of the attack, the IDF issued new <a href="https://twitter.com/IDF/status/1779202651688702286" target="_blank" rel="noreferrer noopener">guidelines</a> for Israeli citizens at home, limiting certain gatherings to 1,000 people and prohibiting educational activities across the country, while <a href="https://www.reuters.com/world/middle-east/jordan-temporarily-close-airspace-state-media-says-2024-04-13/" target="_blank" rel="noreferrer noopener">Jordan </a>and <a href="https://www.barrons.com/news/iraq-closes-airspace-as-iran-launches-attack-on-israel-ministry-4adb745a" target="_blank" rel="noreferrer noopener">Iraq</a> reportedly closed their airspace temporarily.</p>



<h2 class="wp-block-heading">CRUCIAL QUOTE</h2>



<p>“The United States will stand with the people of Israel and support their defense against these threats from Iran,” National Security Council spokesperson Adrienne Watson said in the White House statement.</p>



<h2 class="wp-block-heading">WHAT WE DON’T KNOW</h2>



<p>It’s unclear what Iran is targeting—though recent&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-04-10/us-sees-missile-strike-on-israel-by-iran-proxies-as-imminent?sref=yYYRek8e" rel="noreferrer noopener" target="_blank">reports&nbsp;</a>had suggested Iran was planning on targeting military or government sites. It’s unclear how, or if, Israel will respond to the attack. Israeli officials had in recent days vowed&nbsp;<a href="https://apnews.com/article/israel-hamas-war-latest-04-11-2024-9774f91ef80126e580ea5a9b3b84eb74" rel="noreferrer noopener" target="_blank">retaliation</a>&nbsp;in the event of an attack.&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2024/04/12/biden-expects-iran-to-attack-israel-sooner-rather-than-later/?sh=11f13de82b53">Biden</a>&nbsp;had also promised the United States would support Israel in the event of an Iranian attack. Iranian officials had criticized both Israel and the United States immediately following the embassy attack—Iran’s U.N. ambassador<a href="https://newyork.mfa.ir/portal/NewsView/742465/Ambassador39s-Statement-Before-UNSC-Following-Israeli-Regime39s-Airstrikes" rel="noreferrer noopener" target="_blank">&nbsp;Zahra Ershada</a>&nbsp;said in a statement that the “United States is responsible for all crimes committed by the Israeli regime,” while&nbsp;<a href="https://twitter.com/MhmmdJamshidi/status/1776238843710058907" rel="noreferrer noopener" target="_blank">Mohammad Jamshidi</a>, an advisory to Iranian President Ebrahim Raisi, said in a message directed to the U.S. on X, formerly known as Twitter: “Stay away so you won’t get hurt.”</p>



<h2 class="wp-block-heading">CONTRA</h2>



<p>Some reports suggest Iran is aiming to avoid a wider conflict, with&nbsp;<a href="https://www.reuters.com/world/middle-east/israel-edge-iranian-retaliation-after-embassy-strike-2024-04-12/#:~:text=IRAN%20WANTS%20TO%20AVOID%20ESCALATION%2C%20SOURCES%20SAY&amp;text=Iranian%20sources%20and%20diplomats%20from,might%20spin%20out%20of%20control." rel="noreferrer noopener" target="_blank">Reuters&nbsp;</a>reporting Friday that Iranian sources said Tehran had alerted the U.S. that it hopes to avoid a broader conflict.</p>



<h2 class="wp-block-heading">WHAT TO WATCH FOR</h2>



<p>At his press conference, Hagari said Israel’s army had been preparing for the attack in advance and “all of its elements both on the defensive and the offensive are prepared.” He said Israel has various “circles of protection” from its navy and air force with additional circles of protection from the United States. He added: “We have an excellent air defense system and it is now in full operation, but you must remember it’s never 100%—the defensive measures,” and urged residents to remain calm.</p>



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



<p>The airstrike on the facility in Syria reportedly killed seven Iranian military officials. Israel has been widely blamed for the attack, though it has not claimed responsibility. The strike and anticipated response has prompted concern that continued tit-for-tat between Israel and Iran could significantly widen the crisis in the Middle East, expanding out from the ongoing Israel-Hamas war in Gaza. Iran has long been a vocal supporter of Hamas and materially supports other proxy groups that oppose Israel, like the Houthis in Yemen and Hezbollah in Lebanon.</p>


Tag: Iran

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