Israel launches major airstrikes on Iran, read from the bottom up for the chronology:
Oil market factoring in a higher risk premiumIran says Israel and America will pay a very heavy priceTrump convenes the National Security Council meeting at 11am on FridayFurther reports that Israeli air force has begun a second wave of air strikes against IranReports of another wave of Israeli strikes on Iran has begunUS warns Iran not to target U.S. interests or personnelUnconfirmed: Iranian jet fighters taking off, Iranian ballistic missile launches reportedIsraeli PM Netanyahu- We targeted Iran’s main enrichment facility in NatanzReports that Israel has detected missile launches from IranIsraeli official confirms attack on Iran - Iran's nuclear program an 'existential threat'Israel’s Air Force conducted a strike in Iran - updateMarket response to Israel attack on Iran: Yen up, Oil rockets higher.Israel says has launched a pre-emptive attack against Iran -Explosions heard in Tehran - reports are sketchyFinancial Times reports Israeli strike on Iran could come today, Friday 13 June ... ps. this was great info from the FT, gave us around a 10 minutes heads up to a Friday attack imminent while everyone else was looking at SundayOther:
Israel launched a sweeping series of airstrikes across Iran, marking the most significant military operation against the country since the Iran-Iraq War of the 1980s. The strikes, carried out in three five waves (so far), targeted critical nuclear enrichment facilities—including the Natanz complex—as well as key military sites and senior leadership figures.
Among those killed was General Hossein Salami, chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), in what analysts say is a direct strike on the regime’s strategic command structure. Former top security official Ali Shamkhani was also reported injured, though Iran’s Supreme Leader Ayatollah Khamenei is said to be unharmed. The targeting of such high-level figures signals a broadening of the Israeli operation beyond nuclear infrastructure, with the intent to weaken or decapitate Iran’s retaliatory capacity.
Israeli Prime Minister Benjamin Netanyahu stated that operations would continue “until the threat is removed,” indicating this may be the first phase of a longer campaign aimed at degrading Iran’s nuclear and military capabilities. Reports also suggest Israeli sabotage teams are operating inside Iran, intensifying the pressure on Tehran’s command and control networks.
Iran has vowed severe retaliation, warning that both Israel and the United States (I bolded this because despite all the disavowals from the US, they'll be targeted) will “pay a huge cost,” although the U.S. has denied any role in the strikes. In response to the escalation, Washington has locked down its embassy in Tehran, initiated evacuation planning for American citizens in the region, and scheduled a National Security Council meeting led by Trump that will not begin until 11am Friday, US Eastern time.
Oil markets reacted swiftly to the growing geopolitical risk, with both Brent and WTI crude jumping sharply. Traders are now pricing in the potential for prolonged supply disruptions if the conflict escalates into a broader regional confrontation.
Other markets also responded. Yen initially strengthened but USD/JPY has since fully recovered. AUD, NZD, EUR, GBP, CAD are all weaker against the US. Gold is higher, enjoying its 'haven' status. US equity index futures have been been hard hit, both ES and NQ down around 1.5%.
The focus has been, and will continue to be, on oil - Brent crude up
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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