US and Israel launch strikes on Iran targeting its leadership; Iran fires missiles at Israel and Gulf states report intercepts
Why It MattersCancellations across Middle Eastern airspace and Israel's civil airspace closure disrupt a corridor that business aviation relies on, while oil-price risk raises fuel cost pressure for operators.
The United States and Israel launched strikes on Iran on Saturday, targeting its leadership. US President Donald Trump said the operation, which the Pentagon named "OPERATION EPIC FURY", would end a security threat to the United States and give Iranians a chance to topple their rulers. Iran responded by launching missiles at Israel. An Israeli official said Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian were both targeted, but the outcome was unclear. An Iranian source close to the establishment said several senior Revolutionary Guards commanders and political officials had been killed, and Iranian state media said 40 people were killed in an Israeli airstrike on a school.
Gulf Arab states said they had intercepted missiles from Iran after Tehran warned it would strike the region if attacked. Loud booms sounded in Abu Dhabi and blasts were heard in Dubai. Bahrain said the service center of the US Fifth Fleet had been hit by a missile attack, and Qatar said it had downed all missiles targeting it and reserved the right to respond. Explosions were also heard near Iran's Kharg Island, through which Iran exports 90 percent of its crude oil.
Airlines cancelled flights across the Middle East, and Israel closed its airspace to civilian flights, shut schools and non-essential workplaces, and banned public airspace use. Jorge Leon of Rystad Energy said that without de-escalation over the weekend, risk premiums could push Brent crude up by $10-$20 a barrel on Monday. A US official said the campaign is expected to last multiple days, and an Israeli defence official said the operation had been planned for months in coordination with Washington.
