Explosions heard in Tehran after Netanyahu warns it will pay ‘heavy price’ for strikes - Explosions heard in Tel Aviv and Tehran on Sunday afternoon

For one thing, early reports indicate the air strikes did not hit Iran’s petroleum facilities, which means the Islamic Republic should be able to keep producing crude oil at the same rate as before. Due to international sanctions, Iran relies heavily on China. It’s been estimated that China imported 89% of Iranian oil in February 2024.

Israel’s stunning attacks on Iran’s nuclear program and military leadership are embroiling the Middle East in another deadly war — and could imperil President Donald Trump’s pledge to slash oil prices for American consumers.