On Thursday, loud explosions were reported over Jerusalem, with the Israeli army claiming to have intercepted a missile launched from Iran. At the same time, explosions were also heard in the center of Dubai, including a particularly powerful one. These incidents appear to be part of Iran's ongoing campaign against Gulf states, fueled by reactions to U.S. and Israeli military actions in the region. This escalation raises concerns over regional stability and the potential for wider conflict.

Simultaneously, oil prices surged back over $100 per barrel, leading to a decline in stock markets. The International Energy Agency’s (IEA) recent release of strategic oil reserves has been overshadowed by Iran's demonstrated capacity to strike oil supply lines in the Middle East. This economic impact, linked to geopolitical strife, underscores the volatility of global oil markets and the interconnectedness of geopolitical stability and economic health.

Further complicating the situation, an attack was reported on an Italian base in Erbil, Iraq. Italian Foreign Minister Antonio Tajani confirmed that the base was targeted, but fortunately, there were no casualties. Italy maintains troops in Erbil as part of international forces to train Kurdish security units, indicating their commitment to regional stability despite the rising tensions. The evolving situation reflects the precarious balance of power in the region and the challenges faced by international forces operating within it.