Oil surges as Iran war widens with leadership shakeup and high‑profile strikes
In its third week, the Iran conflict has intensified as U.S. and Israeli strikes kill senior Iranian officials (Esmaeil Khatib; Ali Larijani; Gholamreza Soleimani) and Iran names Mojtaba Khamenei as its supreme leader, while Tehran vows to keep the Strait of Hormuz closed. Strikes on energy facilities fuel a jump in oil prices to around $110 a barrel. NATO allies say they won’t join the fight, and tens of thousands of U.S. troops and regional assets remain in place as casualties and displacement mount across Iran, Lebanon and Israel, signaling a potential broader escalation.