Iran unleashed early Wednesday defiant new strikes around the region, including drones targeting a Saudi oilfield, as the International Energy Agency reportedly proposed its largest-ever oil reserve release to calm markets and prices.
The war sparked by US-Israeli strikes on Iran has spread across the region and caused spiking energy costs, forcing fuel rationing, price hikes and even school closures globally.
G7 leaders will meet by video conference later Wednesday to discuss the war’s economic consequences, particularly the “energy situation,” the French presidency said, with the IEA also due to decide on a proposal for its largest-ever oil reserve release, the Wall Street Journal reported.
Al Jazeera describes explosions in the sky over Doha as air defence systems intercepting Iranian missiles.
The United States on Tuesday said it was hitting Iranian ships capable of mining the Strait of Hormuz, the crucial passageway for oil that has been effectively closed by Iranian threats.
Israel also launched new waves of strikes both in Beirut and Tehran, where residents hunkered down after being smothered by black rain from Israeli bombing of fuel depots.
On Wednesday morning, Israeli strikes across Lebanon killed 16 and wounded 26, according to Anadolu Agency. Additionally, an Israeli airstrike targeted a residential apartment in the Aisha Bakkar area of Beirut, causing destruction. One person has been reported killed by Israeli drone in Nabatieh, southern Lebanon, and Israeli warplanes strike near Rayak-Baalbek highway in eastern Lebanon, according to Al Jazeera.
