logo
Air raid sirens in northern Israel due to Iranian missiles: military

Air raid sirens in northern Israel due to Iranian missiles: military

JERUSALEM: Air raid sirens were activated briefly across a large swath of northern Israel on Tuesday warning of an incoming barrage of Iranian missiles, the military said.
'A short while ago, sirens sounded in several areas across Israel following the identification of missiles launched from Iran toward the State of Israel,' the military said in the seventh such warning since midnight (2100 GMT on Monday).
Israeli authorities issued a statement around 15 minutes later saying residents could leave their shelters, with no reports of strikes published by officials.
Israeli media is subject to strict restrictions from the military censor.
The latest warning of the day came hours after a previous barrage from Iran targeted the coastal hub of Tel Aviv and the north.
Iran armed forces urge evacuation of residents in major Israeli cities
Israel's sophisticated air defence systems have been largely successful in intercepting Iranian missiles and drones.
At least 24 people have been killed and 592 wounded in Iran's attacks on Israel, according to the prime minister's office.
As of Sunday, Israeli attacks had killed at least 224 people and wounded more than 1,200 in Iran, the health ministry there said.
The deaths include top military commanders and nuclear scientists.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oil prices extend rise as Iran-Israel conflict enters sixth day
Oil prices extend rise as Iran-Israel conflict enters sixth day

Business Recorder

time13 minutes ago

  • Business Recorder

Oil prices extend rise as Iran-Israel conflict enters sixth day

BEIJING: Oil prices ticked up in early trading on Wednesday after ending the previous session up more than 4% on worries that the Iran-Israel conflict could disrupt supplies. Brent crude futures rose 19 cents, or 0.25%, to $76.64 a barrel by 0029 GMT. U.S. West Texas Intermediate crude futures rose 23 cents, or 0.31%, to $75.07 per barrel. U.S. President Donald Trump on Tuesday called for Iran's 'unconditional surrender' as the Iran-Israel air war entered a sixth day. Oil prices fall more than $2 barrel The U.S. military is deploying more fighter aircraft to the region to bolster its forces, three officials said on Tuesday. Analysts said the market was largely worried about supply disruptions in the Strait of Hormuz, which carries a fifth of the world's seaborne oil. Two oil tankers collided near the strait and caught fire on Tuesday. The United Kingdom Maritime Trade Operations had warned on Monday that electronic interference is affecting ships' navigation systems. Iran is OPEC's third-largest producer extracting about 3.3 million barrels per day (bpd) of crude oil, but analysts say other members of the Organization of the Petroleum Exporting Countries could use their spare capacity to make up for a drop in Iranian output. Markets are also looking ahead to a second day of U.S. Federal Reserve discussions on Wednesday, in which the central bank is expected to leave its benchmark overnight interest rate in the 4.25%-4.50% range. However, the conflict in the Middle East and the risk of slowing global growth could push the Fed to potentially cut rates by 25 basis points in July, sooner than the current market expectation of September, said Tony Sycamore, market analyst with IG. Geopolitics ignite oil prices once again 'The situation in the Middle East could become a catalyst for the Fed to sound more dovish, as it did following the October 7, 2023, Hamas attack,' Sycamore said. Lower interest rates generally boost economic growth and demand for oil. Confounding the decision for the Fed, however, is that the Middle East conflict also creates a new source of inflation via surging oil prices. U.S. crude and gasoline stocks fell last week while distillate inventories rose, market sources said, citing American Petroleum Institute figures on Tuesday.

Geopolitics ignite oil prices once again
Geopolitics ignite oil prices once again

Business Recorder

time33 minutes ago

  • Business Recorder

Geopolitics ignite oil prices once again

Crude oil prices remain volatile, navigating between tightening supply concerns and weakening demand signals. Brent crude has approached $65 per barrel, driven primarily by geopolitical risks rather than underlying supply-demand fundamentals. The Russia-Ukraine conflict has sharply escalated, heightening the risk premium attached to oil markets. Increasing drone strikes by Ukraine and Russian retaliatory actions have raised concerns over potential disruptions to energy infrastructure, particularly Russian oil exports. This direct threat to oil logistics significantly threatens global oil supplies. Further compounding supply-side concerns is Iran's anticipated rejection of the recent U.S. nuclear deal proposal. Diplomatic sources indicate Tehran's negative response to halting uranium enrichment, cementing its continued exclusion from international oil markets. With ongoing U.S. sanctions, Iran's crude exports remain limited to China. Additionally, the escalating conflict between Israel and Iran has added another layer of complexity. Recent Israeli airstrikes on Iranian oil infrastructure and Iran's missile responses have spiked oil prices, briefly pushing Brent crude to near $75 per barrel. This geopolitical risk factor has particularly highlighted vulnerabilities around the strategic Strait of Hormuz, through which approximately 18-20 million barrels per day transit. Iran has threatened closures, potentially pushing oil prices significantly higher if disruptions occur, with analysts suggesting spikes above $100 per barrel in the event of a major escalation. Simultaneously, wildfires in Alberta, Canada, have reduced oil sands production by approximately 350,000 barrels per day, equating to about 7 percent of the province's total output. While minor in global terms, these outages amplify market sensitivities amid other supply disruptions. Additionally, the recent OPEC+ meeting reinforced bullish sentiments by approving a modest production increase of only 411,000 barrels per day for July—far below expectations of a larger supply boost. This decision triggered investors to unwind bearish positions, contributing to the immediate rally. However, despite these supply-side factors, demand indicators present a starkly different narrative. China's oil consumption, a critical component of global demand, has shown notable weakness. Chinese crude imports reached a six-month low in April amid reduced industrial activity and refinery downtime. Coupled with ineffective economic stimulus impacts, this underscores persistent sluggishness in Chinese demand. Going forward, oil price trajectories appear increasingly contingent upon geopolitical developments rather than fundamentals. Continued volatility driven by Israel-Iran tensions could keep prices elevated in the $70-80 per barrel range, with severe escalations potentially driving prices significantly higher. Beneath these geopolitical headlines, global demand fragility, especially in major economies like China, poses a substantial downside risk. Without sustained economic recovery, long-term demand forecasts may require downward adjustments. In sum, the crude oil market remains delicately balanced, driven by geopolitical tensions temporarily overshadowing fundamental demand weaknesses. Market participants must closely monitor geopolitical developments, particularly involving Israel, Iran, Russia, and Ukraine, alongside macroeconomic indicators to gauge future price movements effectively. Copyright Business Recorder, 2025

Diplomats' families, not essential staff being moved from Iran
Diplomats' families, not essential staff being moved from Iran

Business Recorder

timean hour ago

  • Business Recorder

Diplomats' families, not essential staff being moved from Iran

ISLAMABAD: The government has directed the Ministry of Foreign Affairs (MOFA) to begin safe evacuation of families of diplomats and non-essential staff from Iran as a "precautionary measure" amid escalating tensions in the region following the Iran-Israel conflict, an official source confirmed on Tuesday. Pakistani Embassy in Tehran and consulates in Mashhad and Zahedan will remain fully operational, ensuring uninterrupted consular services for citizens, the source added. 'The foreign Ministry is moving out families of diplomats and staff and some non-essential staff from Iran. However Pakistan embassy in Tehran and our consulates will continue to remain functional,' the official remarked. The move follows heightened regional instability, including Israeli air strikes targeting Iranian military and nuclear facilities, and retaliatory missile attacks by Iran. Over 220 casualties have been reported in Iran, with 20 in Israel. Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store