Israel Strikes Back Against Iran; Escalation and Oil Price Concerns Ease Some

Israel strikes Iran’s missile facilities, intensifying tensions; potential for further retaliation leaves oil markets wary.

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An Israeli attack on Iran this weekend targeted facilities at two secretive military bases linked to Tehran’s past nuclear and ballistic missile programs, according to satellite images analyzed by the Associated Press. The attack caused damage at the Parchin military base, where Iran is suspected of having previously conducted tests related to nuclear weapons, and at the nearby Khojir base, believed to house underground tunnels and missile production sites. The strikes reportedly disabled three Russian-made S-300 air-defense systems, according to both Iranian and Israeli officials, and were deemed a "proportionate response" by the U.S. and Western Allies.

Israel's attack was a response to the 200 ballistic missiles Iran launched on October 1st into military and civilian targets. Iran said it attacked Israel as retaliation for the IDF’s elimination of the Iran-backed Hezbollah militia leader, Hassan Nasrallah. Hezbollah, a U.S.-designated terrorist organization with a stronghold in Lebanon, has fired 8,000 missiles at Israel since October 7, 2023, when Hamas also launched a surprise attack on Israel that left many civilians dead and 251 people as hostages.

Iran promised a proportionate retaliation for the Israeli retaliation, leaving many to wonder how this moderating tit for tat will end.  Recent files have also shown attempts by Iran to assassinate former President Donald Trump. Trump touts his policies as the reason, claiming they near bankrupted Iran. But it's more likely retaliation for the assassination of a top Iranian general under the Trump administration.

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