Middle East on Edge: Oil Strikes and Retaliation Loom

Tensions escalate as the U.S. considers strikes on Iran's oil facilities following Tehran's missile attack on Israel. Global oil prices surge amid fears of supply disruption as the Middle East faces potential escalation. The G7 calls for restraint, cautioning against further instability.

Tensions in the Middle East continue to intensify as the U.S. considers military strikes on Iran's oil facilities. This comes in response to Tehran's missile attack on Israel, a move that has significantly raised stakes in an already volatile region.

Global oil markets have reacted sharply, with prices surging on fears of supply disruptions. President Joe Biden's remarks on the potential strikes added to market jitters, fueling concerns about rising instability in the Middle East.

As international bodies, including the G7, call for restraint, political leaders are urging a ceasefire to prevent spiraling conflict. Calls for de-escalation come as both Israel and Iran signal readiness for further military confrontation.

(With inputs from agencies.)