Across Iran’s capital, explosions rang out overnight as the U.S. and Israel pounded Iran with airstrikes. Iran and its allies have hit back against Israel and neighboring Gulf states.

The warning comes as Iran retaliates against a joint U.S.-Israeli attack that killed Supreme Leader Ayatollah Ali Khamenei and dozens of top Iranian officials on Saturday.

Israeli airforce attacking cities simultaneously with a ‘wave of extensive strikes’ as soldiers are deployed on the ground in southern Lebanon

US secretary of defence Pete Hegseth said the conflict with Iran would not be “endless”, though more troops were on the way. Achieving the administration’s goals — including destroying the regime’s ballistic missile and nuclear capabilities — “won’t happen overnight,” he continued.

Wisconsin Army National Guard troops are stationed in the Middle East providing key operations to the U.S. strikes on Iran.

Escalating Middle East tensions see U.S. and Israeli forces launch strikes against Iran and its proxies. Iranian missiles hit Israel and Kuwait as Qatar downs Iranian jets.

Commercial flights across parts of the Middle East have been grounded due to the escalating conflict after U.S. and Israeli strikes on Iran, stranding foreign nationals and prompting governments to consider repatriation.

Middle East airspace closures have created a visible gap in global flight paths, forcing long-haul reroutes, increasing fuel costs and disruption, with potential knock-on effects for schedules and fares worldwide.

The cost of hauling crude oil from the Middle East to China rose more than 94% to hit a record high of $423,736 per day on Monday.

MILAN, March 3 (Reuters) - The crisis in the Middle East is adding pressure on the luxury sector, which is already struggling to emerge from a slowdown in demand, with groups such as Richemont and Zegna seen among the most exposed.