Iran marked the appointment of Ayatollah Mojtaba Khamenei to replace his father as its new supreme leader with a barrage of missiles against Israel and the Gulf on Monday, as the war sent oil prices soaring.

As Iran entered its new era and the conflict its 10th day, world oil prices were already up by almost a third, Saudi Arabia intercepted drones targeting oil fields and Bahrain's state energy company warned after a missile strike that it may be unable to fulfil export contracts.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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