In a major escalation of tensions in the Middle East, Iran’s Supreme Leader Ayatollah Ali Khamenei reportedly ordered a direct strike on Israel Wednesday. This move is in retaliation for the killing of Hamas leader Ismail Haniyeh in Tehran.
What Happened: The order for a direct strike on Israel was issued by Khamenei at an emergency meeting of Iran’s Supreme National Security Council, as reported by The New York Times, which cited three unnamed Iranian officials that it said were briefed on Khamenei’s order. The meeting took place shortly after Haniyeh’s death was announced by Iran.
The Iranian officials said the strike order was given on Wednesday morning, according to the Times. The killing of Haniyeh, which Israel has neither confirmed nor denied, has been attributed to the country by Iran and Hamas. The U.S. has defined Hamas as a terrorist group since 1997.
Hamas has been engaged in a prolonged conflict with Israel in the Gaza Strip. Despite this, Iran has been cautious, attempting to pressure Israel through increased attacks by its allies and proxy forces in the region while avoiding an all-out war, according to the Times.
Why It Matters: The recent events in the Middle East have been marked by a growing confrontation between Iran and Israel. Israeli Prime Minister Benjamin Netanyahu recently addressed the U.S. Congress, emphasizing the threat posed by Iran’s “axis of terror” in the Middle East. This latest development is likely to further exacerbate the already tense situation in the region.
Iran’s plan to directly strike Israel could potentially lead to a full-scale conflict in the region. The move also underscores the growing influence of Iran in the Middle East and its willingness to challenge Israel’s military dominance.
The SPDR S&P 500 ETF Trust SPY moved higher on Wednesday, up 1.63%. Gold ETFs are also climbing, with SPDR Gold Shares GLD closing the regular trading session 1.8% higher as investors seek safe-haven assets amid the escalating tensions in the Middle East.
Oil ETFs are experiencing a surge, including the United States Oil Fund USO up 4.4%, due to concerns over potential disruptions in oil supply
Read Next:
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: saeediex/Shutterstock.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
