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Iran launched more attacks on Israel and Gulf countries Monday, hours after Iranian state TV said Mojtaba Khamenei, son of the country’s late supreme leader and long considered a contender, had been named his successor.
Iran’s powerful paramilitary Revolutionary Guard answers to the supreme leader and the younger Khamenei will have a central say in the war strategy.
Oil prices skyrocketed Monday, leading to more worries that higher energy costs will fuel inflation and lead to less spending by U.S. consumers, the main engine of the economy. Tokyo’s benchmark Nikkei 225 index plunged as much as 7% in early Monday trading, while other Asian markets also tumbled.
Saudi Arabia sharpened its warnings to Iran, telling Tehran Monday it would be the “biggest loser” if it continues to attack Arab states. The Saudi statement came after a new drone attack apparently targeted its massive Shaybah oil field.
Major developments we’re following:
Iran names Mojtaba Khamenei as supreme leader: Iranian state TV early Monday said Khamenei, son of the country’s late supreme leader, has been named his successor. He had long been considered a contender, even before an Israeli strike killed his father at the start of the war, and despite never being elected or appointed to a government position.
Shares plunge as oil prices soar: Japan’s benchmark Nikkei 225 index plunged more than 5% and other Asian markets also tumbled after oil prices soared to nearly $120 a barrel due to disruptions from the war in the Middle East.
The U.S. military announced a seventh American service member has died of injuries sustained during an Iranian attack on troops stationed in Saudi Arabia. The first six deaths were Army reservists killed in a March 1 attack in a Kuwaiti port.
The death toll continues to rise: The war has killed at least 1,230 people in Iran, at least 397 in Lebanon and around a dozen in Israel, according to officials in those countries. (AP)
