Traffic flows on a highway in the Iranian capital Tehran on June 13, 2025 following reported Israeli strikes targeting Iran early in the morning.
Iran retaliated to Israel's overnight missile strike by launching over 100 drones towards Israeli territory on Friday morning. This response came after at least three senior Iranian military leaders were killed in the Israeli attack.
Israel Defense Forces spokesperson Effie Defrin confirmed the deaths of the Chief of Staff of the Iranian Armed Forces, Commander of the IRGC, and the Commander of Iran's Emergency Command due to the Israeli strikes. Efforts are underway to intercept the drones launched by Iran.
Rocket sirens were heard in northern Jordan as the country reported intercepting several Iranian drones in its airspace. Israel's attack on Iran, aimed at nuclear enrichment facilities, marked the largest assault on the Islamic Republic since the Iran-Iraq war in the 1980s.
The news of the strikes caused oil prices to spike by up to 13%, with global benchmark Brent crude exceeding $78 a barrel at one point. Asian and European stocks dropped as investors sought safe havens amidst fears of a broader conflict in a region that supplies one-third of the world's oil.
At 8:23 a.m. in London, Brent crude was trading at $72.76 per barrel, up 5%, while U.S. WTI was at $71.27 per barrel, up 4.6%. The focus now shifts to the actions of Iran and the United States, particularly whether the U.S. will intervene in the situation. The U.S. State Department clarified that it was not involved in Israel's strikes on Iran, urging Iran not to target U.S. interests or personnel.
Iran's foreign ministry, however, warned that Washington would be held accountable for the repercussions of Israel's actions. President Donald Trump is set to participate in a National Security Council meeting at 11 a.m. Eastern Time as the situation unfolds.
This is a developing story and updates will follow.
Source: CNBC