Iranians have been told to pledge allegiance to Mojtaba Khamenei after he was named the country’s new supreme leader. All eyes are now on how he will lead Iran through one of the greatest crises in modern history, and what his first actions will be.
The economic impact of the war has become even more severe, with global oil prices exceeding $100 per barrel, the first time they have exceeded that level since Russia’s invasion of Ukraine in 2022. The soaring prices were prompted by concerns that the conflict would lead to prolonged restrictions on oil flows around the world.
Israel’s attacks on Iran’s energy resources and fuel storage facilities have pushed the war into a “new phase,” a senior Iranian official has warned, hinting at retaliatory attacks on energy infrastructure across the region.
Here’s what you need to know on day 10.
What are the main headings?
Khamenei Dynasty: After Mojtaba Khamenei was chosen as the country’s new supreme leader, replacing his murdered father Ali Khamenei, Iran’s major power centers, including the Revolutionary Guards, quickly rallied to his support. The Revolutionary Guards said they were ready to “submit fully and sacrifice their lives” for him. US President Donald Trump last week said it was “unacceptable” that the younger Khamenei would be elected. Analysts say Mojtaba’s elevation signals a continuation of his father’s hardline policies.
Economic shock: The IMF chief warned of global inflation risks and said his advice to policymakers was to prepare for the “unthinkable.” G7 finance ministers are scheduled to meet on Monday to discuss the possibility of a joint release of the Strategic Oil Reserve. Asian markets tumbled while oil futures rose, but President Trump dismissed concerns, saying higher oil prices were a “very small price.” Amid deepening global anxiety, South Korea will impose fuel restrictions for the first time in nearly 30 years.
Regional attacks continued, with Israel announcing it had launched attacks on Beirut and Iran, while Tehran announced missile launches. Gulf states have reported interceptions and nighttime attacks, including Bahrain, which said at least 32 people were injured in a drone attack on a residential area in Iran. Bahrain’s state oil company BAPCO said its operations had been affected after footage showed a massive fire breaking out in the facility’s industrial area in Riffa, and subsequently declared operations under force majeure.
School strikes: Secretary of Defense Pete Hegseth said the United States was still investigating a strike on an Iranian elementary school that killed at least 168 children, according to state media. His comments came after the release of new footage of a U.S. airstrike targeting a naval base adjacent to the school, adding to a body of evidence that contradicts President Trump’s recent claims placing blame on Iran.
Staff ordered to leave: The US State Department has ordered non-emergency diplomats to leave Saudi Arabia, reflecting the risks US personnel face as the conflict deepens. A U.S. service member injured in an attack in the country last week has died.
Pledge: Iran announced Monday that it will hold nationwide rallies to pledge allegiance to its new supreme leader. According to Iranian state media, citizens are being asked to gather from across the country at 3pm local time.
‘New phase’ in war: Iranian official tells CNN there is no immediate end to the conflict in sight. He said Israel’s attacks on oil and fuel depots had entered a “new phase” in the war. The official hinted at retaliatory attacks on energy infrastructure, raising fears of further disruption to oil and gas facilities in the region.
Stay or leave? : A Tehran resident said his family was divided over whether to leave the city, saying people were under “huge pressure.” The Israeli attack on the fuel depot on Saturday night was “the heaviest bombing since the beginning of the war,” he said.
‘Save our girls’: Iran’s women’s soccer team is at the center of growing calls to be prevented from leaving Australia, where they are competing in the Asian Women’s Cup, for fear of persecution in Iran.
Energy prices: President Donald Trump and administration officials are trying to allay concerns about rising gas prices. White House press secretary Caroline Levitt described the rise in pump costs as a “short-term disruption.” Senate Majority Leader Chuck Schumer called on President Trump to tap into the Strategic Petroleum Reserve, the world’s largest emergency oil reserve, to lower energy prices.
Terms of surrender: President Trump said he would decide with Israel when the war ends. In an interview with the Times of Israel, President Trump said Israeli Prime Minister Benjamin Netanyahu would be involved in the decision, but that the United States would have the final say. Secretary of Defense Hegseth also said that the United States and President Trump would set “terms of surrender” with Iran, but did not provide details.
