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Global markets are heading for a nervous open on Monday after joint US-Israel missile strikes on Iran escalated tensions in the region.<\/p>\n
Analysts warned of higher oil and petrol prices and a change of plan at the Bank of England if the situation is not calmed quickly.<\/p>\n
Israel said\u00a0\u201cseveral senior figures\u201d\u00a0from the Iran regime have been \u201celiminated\u201d amid conflicting reports over the fate of Iranian Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian.<\/p>\n
Amid denials from the Iranian government, Israel said Khamenei was dead and that his body was discovered under the rubble caused by an Israeli airstrike. <\/p>\n
Donald Trump later told NBC News: \u201cI have spoken to a lot of people, we feel that is a correct story. A large number of their leaders have also been killed.\u201d<\/p>\n
Iran retaliated with strikes in\u00a0Bahrain, Doha, Dubai and\u00a0Kuwait\u00a0\u2013 places with US military bases, or that are allied to the US.<\/p>\n
Among the buildings hit were the Fairmont The Palm hotel in Dubai, where \u00a0four people were injured, and another hotel in Bahrain. <\/p>\n In\u00a0Doha,\u00a0Qatar, explosions were seen apparently targeting the al Udeid air base, the largest American military base in the region. Jordan \u2013\u00a0which borders Israel \u2013 said that its\u00a0armed forces shot down two ballistic missiles.<\/p>\n Financial analysts warned that the attacks will see the US dollar surge, pushing sterling down, while gold and silver could spike \u2013\u00a0with $6k per ounce gold now on the table.<\/p>\n They also believe oil prices will rise, potentially climbing from today\u2019s $73 per barrel to $80 with petrol prices going up.<\/p>\n This could derail the Bank of England\u2019s inflation predictions and push up swaps \u2013\u00a0meaning borrowers will have to pay more as interest rates stay high.<\/p>\n Roughly 20% of globally traded crude and a similar proportion of liquefied natural gas passes through the Strait of Hormuz each day, equating to around 13 million barrels of oil moving through the channel daily.<\/p>\n Nigel Green, founder and chief executive of financial adviser deVere Group said: \u201cEnergy markets are entering a repricing phase driven by operational risk rather than speculation.\u00a0<\/p>\n \u201cWhen close to one fifth of global crude flows transit a single maritime corridor, even a marginal probability of disruption demands a higher structural risk premium.\u201d<\/p>\n Susannah Streeter, chief investment strategist, Wealth Club, said: \u201cInvestors have been bracing for a rise in geopolitical tensions and now they are having to buckle up for another rollercoaster ride.\u201d<\/p>\n Reports from the US, explaining the reasons for the attacks, were that Washington believed the Iranians intended to pre-emptively target US troops in the region.<\/p>\n Iran\u2019s major cities were targeted in the aerial assault which the Pentagon named Operation Epic Fury.<\/p>\n Donald Trump said that \u201cmajor combat operations\u201d were under way, and urged Iranians to\u00a0\u201ctake over\u201d the government.<\/p>\n \u201cWe will not allow the world\u2019s number one sponsor of terror to have a nuclear weapon \u2014 not now, not ever,\u201d he said.<\/p>\n He urged Iranian soldiers to lay down their weapons or \u201cface certain death\u201d and told the civilian population: \u201cThe hour of your freedom is at hand.<\/p>\n \u201cWhen we are finished, take over your government. It will be yours to take. This will probably be your only chance for generations.\u201d<\/p>\n \t <\/div>\n![\"\"](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/02\/Donald-Trump-speakigng-about-Iran.png\")
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