Latest Iran Conflict Update: Israel Claims Airstrike Killed Iranian Security Official

Investing.com - According to The Wall Street Journal, citing sources, Israel has announced that Iran security official Ali Larijani is believed to have been killed in Monday’s airstrike.

Use InvestingPro to track the impact of Iran’s war on the markets

The Wall Street Journal added that Iranian state media will soon release a statement from Larijani.

Other reports also state that Gholam Reza Suleimani, commander of Iran’s Basij military forces, has been killed. This force played a role in suppressing anti-government protests earlier this year. Iranian officials or state media have not confirmed this information.

Meanwhile, U.S. President Donald Trump has requested to postpone a scheduled meeting next month with China’s top leader. Just days earlier, he threatened to delay the meeting if Beijing did not use its influence over Iran to help reopen a key shipping route.

Last weekend, Trump called on China to send naval forces to secure the Strait of Hormuz, a major waterway in southern Iran through which about one-fifth of the world’s oil supplies are transported.

However, China, which buys oil from Iran, appears to have little incentive to respond to Trump’s request. Tehran allows Chinese oil tankers to pass through the strait but warned it would attack any vessels carrying cargo that could benefit the U.S. or its allies.

Shipping through the channel has nearly come to a halt, with container companies concerned about crew safety risks and difficulty obtaining insurance for these voyages.

Earlier Tuesday, The New York Times reported that a missile struck a tanker docked near a port in the UAE. Citing the UK Maritime Trade Operations Center, the paper said the vessel, moored near the port of Fujeirah at the southern end of the strait, was only lightly damaged.

UAE officials also stated that a drone caused a fire at an important oil industry center.

Oil prices rose on Tuesday. Global benchmark Brent crude futures increased by 2.6% to $102.80 per barrel, while U.S. WTI crude futures rose by 3.0% to $95.32 per barrel.

The prospect of a prolonged Iran conflict has raised concerns about energy shocks, which could push up global inflation pressures and force some central banks to consider raising interest rates again. On Tuesday, the Reserve Bank of Australia raised rates to the highest level in 10 years, citing “significant” inflation risks from the Iran conflict.

As investors remain uncertain about the direction of Middle East tensions, European stocks rose in early trading, Asian markets showed tentative recovery, while U.S. futures pointed downward.

(This is developing news. Please check back later for updates.)

This article was translated with the assistance of artificial intelligence. For more information, see our Terms of Use.