Tehran: Iran has announced a major leadership transition amid its ongoing war with the United States and Israel, naming Mojtaba Khamenei as the country’s new supreme leader following the death of his father, Ali Khamenei.
Iran’s powerful Assembly of Experts confirmed the decision on Monday, selecting the 56-year-old cleric to lead the Islamic Republic during a period of escalating conflict across the Middle East. Mojtaba Khamenei is believed to have close ties with the Islamic Revolutionary Guard Corps, which has been central to Iran’s military operations during the crisis.
The conflict intensified after Ali Khamenei was killed on February 28 in the early stages of the war, triggering a new phase of missile and drone strikes launched by Iranian forces and allied groups. In recent days, attacks have expanded across the region, targeting strategic infrastructure such as oil facilities and water plants in several Gulf states.
Incident in Saudi Arabia
In Saudi Arabia, a military projectile reportedly struck a residential building in Al Kharj. The Embassy of India in Saudi Arabia confirmed that no Indian citizens were killed in the incident, although one Indian national sustained injuries and is currently receiving treatment at a government hospital.
The embassy stated that it remains in contact with Saudi authorities regarding the situation.
Airlines face market pressure
The ongoing conflict has also affected global markets. Airline stocks across Asia fell sharply as rising oil prices and airspace restrictions added new challenges for carriers already avoiding parts of the Middle East.
Travel disruptions and longer flight routes have increased operational costs for many airlines as the conflict spreads.
Oil prices surge globally
Energy markets reacted strongly to the escalation. Prices for Brent crude climbed above $114 per barrel, marking the highest level since 2022. The price jump reflects fears that the conflict could disrupt oil production and shipping routes in one of the world’s most important energy-producing regions.
Similarly, West Texas Intermediate crude also surged to around $114 per barrel, registering a sharp increase compared with last week’s closing levels.
Analysts say the combination of leadership change in Iran, expanding military activity and threats to energy infrastructure has heightened uncertainty across global markets.
With hostilities continuing and regional tensions rising, governments across the Middle East and beyond remain on high alert as the conflict enters a potentially more volatile phase.
