Israel-Iran conflict escalates as over 100 drones launched, nuclear talks canceled amid strikes
IDF confirms killing of senior Iranian commanders; oil surges 13%, Iran pulls out of nuclear talks.
The fight between Israel and Iran escalated on Friday after the Israeli military carried out airstrikes last night inside Iran that destroyed targets including nuclear sites. The Israeli Defense Forces (IDF) confirmed the killing of three senior Iranian military leaders: the Chief of Staff of Iran’s Armed Forces, the IRGC Commander, and the Emergency Command chief.
Iran responded to the IDF attack by launching more than 100 Iranian drones toward Israeli territory, according to IDF spokesperson, Effie Defrin. Jordanian state media also reported that the Jordanian Air Force intercepted several Iranian drones that crossed into Jordanian airspace. The fighting erupted only days before a sixth round of talks on the U.S.-Iran nuclear deal that are now canceled, after Iranian officials told the U.S. that they were no longer interested in negotiations.
Markets react as oil prices jump and global stocks tumble
Although Israeli Prime Minister Benjamin Netanyahu praised the attacks as highly effective—stating that key nuclear development sites and scientists were hit—Iranian authorities responded by warning that they would hold the United States accountable for the aftermath. Washington, for its part, rejected any involvement, emphasizing that the operation was carried out independently by Israel.
Equity markets took a different path, with steep losses. Stocks in Asia were moving sharply lower and were down double digits across all sectors, and European stocks were down sharply, while Dow futures were down approximately 500 points in early trading. Investors flocked to safe havens as fears of ongoing geopolitical instability mounted with no apparent sign of de-escalation among the nations involved.
Unilateral action raises diplomatic tensions with the U.S.
Israeli Prime Minister Benjamin Netanyahu declared the strikes "very successful" and confirmed that nuclear development sites and scientists were targeted, while Iran's government struck a warning directed at the United States that they would be held responsible for what would ensue. Subsequently, the U.S. State Department denied any involvement, stating that Israel’s actions were "unilateral".
President Donald Trump, who is currently in a campaign period, is further calling on Iran to return to negotiations, stating the conflict "is only going to get worse". U.S. Secretary of State Marco Rubio also urged Iran not to target American personnel during this conflict. Iran's Supreme Leader Ayatollah Ali Khamenei vowed to retaliate severely calling for revenge against Israel for the deaths of military officials and scientists.
