On Thursday, explosions were heard over Jerusalem, reported by AFP journalists, as the Israeli army confirmed the detection of missiles launched from Iran. This incident is part of the broader conflict where Iran has been responding to U.S. and Israeli attacks, heightening concerns in the region. Concurrently, strong explosions were also reported in central Dubai, indicating an ongoing campaign by Iran against Gulf states, further complicating the geopolitical landscape.

The situation has led to a surge in oil prices, crossing the $100 mark once again. This spike in oil prices, coupled with declining stock markets, reflects the impact of Iran's aggression on supply chains in the Middle East and raises fears of further instability in energy markets. The International Energy Agency (IEA) had already been managing strategic oil reserves to mitigate supply issues, but this latest escalation challenges those efforts significantly.

In an additional development, an Italian military base in Erbil, Iraqi Kurdistan, was reportedly attacked, although no casualties were reported. Italian Foreign Minister Antonio Tajani confirmed the incident, noting that Italian troops in Erbil are part of international forces training local security units. This attack further underlines the precarious security situation in the region, especially as foreign troops remain involved in training and stabilizing efforts amid ongoing hostilities.