Iran’s state TV just announced that the country has started the second wave of its True Promise Operation Three on Israel tonight. The state TV said that this time the attack is a combination of drones and "more than 100" missiles, with Haifa and Tel Aviv being the main target tonight.

The country’s exports mostly come from Kharg Island in the Persian Gulf. But Israel’s energy facilities are also at risk.

Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

The sweeping attacks by Israel, which began early Friday, have killed more than 70 people, including four of Iran’s top security chiefs, and damaged Iran’s main nuclear site at Natanz. Iran retaliated by launching scores of missiles at Israel. At least three people have been killed and dozens more wounded during these attacks.

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

A fire has broken out at a Marathon Oil refinery in Texas City, emergency officials say. The Texas City Office of Emergency Management (OEM) first posted about the fire at 12:25 p.m. The refinery is located on 5th Avenue South east of 25th Street South.

In early 2025, oil prices crashed to nearly $60 a barrel but rebounded to $75 due to the recent conflict.