In Tehran and Karaj, the sounds of explosions and fighter jets echoed as the Israeli military confirmed it had struck over 200 targets in western and central Iran, including missile launchers and production sites. These strikes coincide with Quds Day rallies across Iran, where the country’s new Supreme Leader, Mojtaba Khamenei, vowed to keep the Strait of Hormuz closed in defiance of US and Israeli pressure.

On the economic front, US President Donald Trump has issued a 30-day waiver for countries to purchase sanctioned Russian oil currently at sea, a strategic move intended to cool global energy prices. Despite this, Brent crude remains volatile, hovering around $101 per barrel as the war—now entering its third week, continues to disrupt nearly a fifth of the world’s oil supply.

What’s happening in the Middle East? 5 latest developments:

US casualties: Four airmen confirmed dead in the KC-135 refueling tanker crash in Iraq; an investigation is underway.

Escalation in Lebanon: Israel continues to strike Hezbollah targets in Beirut as regional spillover worsens.

Energy crisis: The IEA labels the current conflict the “biggest oil supply disruption in history,” with US gas prices hitting a nearly two-year high.

Rhetoric intensifies: President Trump stated the US is “totally destroying” the Iranian regime, while Israeli PM Netanyahu hinted at efforts to topple the leadership from within.

European losses: France has confirmed the death of a soldier in northern Iraq following an attack on an international coalition base.