Tel Aviv (Brussels Morning Newspaper) – Israel’s defence minister warned that Tehran residents will “pay the price and soon” after Iranian missiles destroyed houses and killed at least eight people in Tel Aviv and the port city of Haifa before dawn on Monday, Reuters reported.
What are the impacts of Iran’s latest strikes on Israel?How are global markets reacting to fresh hostilities?
The confrontation between Israel and Iran has intensified significantly since June 13, 2025, with the two nations carrying out widespread missile strikes against each other. Israel launched the initial offensive with a surprise attack, which involved hitting key Iranian military leadership nodes as well as facilities where Iran was engaged with nuclear matters.
Israel’s national emergency services reported the latest fatalities, bringing the death toll to 23 since Friday. In Iran, Israeli attacks have killed at least 224 people, according to the country’s health ministry.
What are the impacts of Iran’s latest strikes on Israel?
According to Reuters, around 100 more people were injured in Israel overnight, part of a wave of attacks by Iran in response to Israel’s strikes on the country’s nuclear and ballistic missile programs.
Search and rescue procedures were in progress in Haifa, where about 30 people were injured, according to emergency authorities. Dozens of first responders were rushing to the impacted areas. Reports from the media showed fires at a power plant near the port.
Video footage captured several missiles flying over Tel Aviv, with explosions reported in both the city and Jerusalem. A strike hit a densely populated area of Tel Aviv, destroying several residential buildings and shattering the windows of nearby hotels and homes, just a few hundred meters from the U.S. Embassy.
Early morning missiles also hit near Shuk HaCarmel, a bustling market in Tel Aviv that usually attracts big crowds of locals and tourists buying fresh produce and checking out popular bars and restaurants. A residential street in nearby Petah Tikva and a school in the ultra-Orthodox Jewish city of Bnei Brak were also targeted.
How are global markets reacting to fresh hostilities?
As reported by CNBC, oil prices have held onto their recent days, with ICE Brent futures for August delivery trading at $73.81 per barrel. This was 0.57% lower than the previous day’s close. Meanwhile, the Nymex WTI contract for July was at $72.7 per barrel, down 0.38%.
Elsewhere, however, markets showed initial signs of shrugging off the latest hostilities early on Monday. Spot prices for key safe-haven asset gold retreated early morning, down 0.42% to $3,417.83 per ounce after nearly notching a two-year-high earlier in the session, with U.S. gold futures also down 0.65% to $ 3,430.
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