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The Guardian - UK
The Guardian - UK
World
Lucy Campbell, Patrick Daly, Tom Ambrose and Taz Ali

Iran’s currency hits record low – as it happened

We’re closing this blog – here are our latest full reports:

We’re pausing this live coverage of the Middle East crisis now but you can read our latest full report here.

The day so far

  • Donald Trump said that while the US is prepared to attack Iran again “any time we want”, he doesn’t think the renewed campaign against Iran would last “too long”. He also declined to comment on how serious he was about wanting to rename the strait of Hormuz after himself.

  • The Iranian foreign ministry spokesperson, Esmail Baghaei, accused the US of committing a war crime following a reported deadly strike that hit a wedding party in southern Iran, killing at least four people, including a four-year-old child, and injuring 68 others.

  • Washington has still made no official comment on the attack. A spokesperson for US Central Command, Tim Hawkins, said the US was aware of reports of civilian casualties, but said the “US military never targets civilians”. He told the Associated Press the US military was looking into the reports of the strike on a wedding, but would not say if the military had launched a formal investigation.

  • The Iranian Red Crescent has written to the international criminal court (ICC) calling for legal action to be taken against the US following the attack, which is said could constitute a war crime. In the letter, the Iranian Red Crescent said: “Given the reported civilian character of the location as the venue of a family wedding ceremony, as well as the presence of civilians at the site, the incident raises serious concerns under international humanitarian law and warrants an independent, impartial, thorough, and effective investigation.” It added: “Should an independent investigation establish that the wedding venue and the persons present therein were of a civilian character, that no lawful military objective was present at the location, or that the attack was carried out without due regard for the requirements of distinction, proportionality, and precautions in attack, the incident may constitute a serious violation of international humanitarian law and, where the requisite elements are established, a war crime.”

  • Meanwhile, Benjamin Netanyahu has said that Israel’s mission in Iran is “not yet finished”. “All of our systems under my direction are working to overthrow this regime,” the Israeli prime minister told i24News’s Hebrew channel. “Our pilots were there and they can be there at at any moment. We have not yet finished the job. We can be there at any moment. We will defeat this regime.” Asked what defeat meant, Netanyahu said: “We will bring it down. It’s already on its last legs anyway.”

  • Earlier, his defence minister, Israel Katz, had said the IDF is ready to respond “with great force” if Iran attacks Israel, amid the renewed fighting between the United States and Iran. And his foreign minister, Gideon Saar, echoed Katz’s remarks in an interview with the broadcaster France 24 that aired on Wednesday. “If we will be attacked by Iran, we will surely respond heavily, but I’m not sure that Iran will do that mistake,” Saar said. “We don’t have the plans to join the war right now.”

  • And Iran’s currency, the rial, hit a record low on Wednesday. Traders in the Tehran market exchanged 2.20 million rials for one US dollar. That was nearly 10% higher than last week’s record, set on 25 August, when one dollar was sold at 2.02 million rials. The rial has repeatedly hit new lows since the US and Israel launched the conflict more than six months ago. It ​has lost about half of its value ⁠in a year ​of tightening ​US sanctions ​and American ​and ‌Israeli attacks.

Netanyahu says Israel has 'not yet finished the job' with Iran

Further to that, Benjamin Netanyahu has said that Israel’s mission in Iran is “not yet finished”.

All of our systems under my direction are working to overthrow this regime,” the Israeli prime minister told i24News’s Hebrew channel.

It had been his intention to collide with Iran to ultimately “bring it down”, he said, adding:

Our pilots were there and they can be there at at any moment.

We have not yet finished the job.

We can be there at any moment. We will defeat this regime.

Asked what defeat meant, Netanyahu said: “We will bring it down. It’s already on its last legs anyway.

Earlier, we reported that the Israeli defence minister, Israel Katz, had said his military is ready to respond “with great force” if Iran attacks Israel, amid renewed fighting between the United States and Iran.

Speaking at a conference hosted by the Israeli news outlet Ynet, Katz said:

We do not want to be caught off guard; we are prepared. It must be understood: the IDF [Israel Defense Forces], including the air force, is prepared to strike in Iran.

If they attack us, we will respond with great force, without relying on anyone.

Since launching the war on Iran alongside the United States in late February, Israel has largely stayed on the sidelines of recent clashes between the US and Iran.

The Israeli foreign minister, Gideon Saar, said that would likely remain the case, while echoing Katz’s remarks in an interview with the broadcaster France 24 that aired on Wednesday.

If we will be attacked by Iran, we will surely respond heavily, but I’m not sure that Iran will do that mistake.

We don’t have the plans to join the war right now.

Updated

Iran retaliates after US strikes reportedly kill wedding guests - podcast

Iran has accused the United States of a “war crime” after a missile blast killed at least four people, including a young child, and injured 68 at a wedding at a private house in southern Iran.

A month-long uneasy truce between the US and Iran appears to have collapsed again, after US strikes on Saturday on Larak Island in the strait of Hormuz. Iran has responded by launching drones and missiles on US bases across the Middle East, including the Gulf States.

In today’s edition of The Latest podcast, Lucy Hough speaks to Middle East correspondent Will Christou. Also available on YouTube.

Updated

The funeral for those who were killed in the US strike on a wedding ceremony in Kuhestak in southern Iran on Tuesday night is scheduled to take place on Thursday, according to the Fars news agency, citing the IRGC public relations office in Hormozgan province.

The state news agency IRNA and state TV said two women and two children, aged 4 and 16, were killed, and at least 68 were wounded when a US missile hit a home where dozens were gathered to celebrate the wedding of a fisherman’s daughter.

US Central Command spokesman Captain Tim Hawkins told the Associated Press the US military was looking into the reports of the strike on a wedding. He would not say if the military had launched a formal investigation.

Trump also brushed off a reporter’s question about how serious he is about wanting to rename the strait of Hormuz after himself.

Updated

Trump ⁠also ⁠told ​reporters that ⁠he had brought up ⁠the ​issue ‌of price ‌gouging in ‌a meeting with oil and ‌gas executives on Tuesday, adding ​that he wanted retail ⁠gasoline prices ​to come ​down.

It is worth noting that as Trump touts last night’s “heavy attack”, Washington has still made no official comment after at least four people were killed and 68 injured after shrapnel from a US missile reportedly hit a home where a wedding was being held in Sirik, southern Iran.

The Iranian foreign ministry spokesperson, Esmail Baghaei, has accused the US of committing a war crime. The Associated Press reported earlier the US military said it was aware of the allegations but that it “never targets civilians”.

Trump says US prepared to attack Iran again 'any time we want'

Trump also claimed that Iran was trying to rebuild radar and missile systems, along with a rocket that drops mines. “We took it out,” he told reporters in the Oval Office.

“We hit them last night because they took a shot at our base in Jordan,” he went on. “We hit them hard last night. They gave a little love-tap, but we hit them hard.”

He said the US military had “taken out” the new equipment that Iran was building along the strait of Hormuz, “some defensive, some offensive.”

The US president added:

We blew up much more than their radar last night, it was a very heavy attack last night. And we’re prepared to do another one any time we want.

Trump says renewed US campaign against Iran won't last long

Asked how long his renewed campaign against Iran might go on for, Trump replied briefly: “I don’t think too long.”

He also said of oil prices, which went up again to $95 a barrel: “They’ll come down.”

And given his claims about “decimating” Iran’s military, he was asked what is left to strike and why?

Trump didn’t answer directly, instead claiming that the United States has “very strong control” of the strait of Hormuz.

We are controlling the Hormuz strait, we are bringing lots of boats out everyday with millions of barrels of oil.

We are for the most part doing it without trouble, every once in a while they shoot a drone and we knock it down. We have control, very strong control.

Updated

Speaking of Donald Trump, he’s currently speaking to reporters in the Oval Office as he meets with US travel executives. He’ll likely be asked about Iran and I’ll bring you all the relevant lines here.

Donald Trump’s suggestion of renaming the strait of Hormuz after himself – which he has no authority to do – has prompted criticism from US Democrats.

No need for more renaming bodies of water here. Americans already call this entire fiasco TRUMP’S WAR,” Senate minority leader Chuck Schumer said on X. “Trump cares more about feeding his ego than helping the American people who are crying out for help. They want lower health care costs, lower gas prices and grocery bills, and for our troops to come home.”

Schumer’s post included a link to Trump’s Truth Social missive from earlier today where he said: “Now that we have it under U.S.A. control, should we change the name Hormuz Strait to TRUMP STRAIT???”

Trump also said: “Like America itself, it would be ‘hotter’ than ever before!”

It comes after his efforts to rename the Gulf of Mexico and Lake Ontario to the Gulf of America and Lake America, respectively.

Updated

Iran has blacklisted more ships from sailing through the Strait of Hormuz.

According to reporting by Reuters, Tehran has deemed another 11 ships to be non-compliant with rules it has imposed on using the major shipping passage. Iranian authorities said the listed vessels could be subject to fines, confiscation or detention if they attempt to pass through the strait.

The update was made via the website of the Persian Gulf Strait ⁠Authority (PGSA), a body set up by Iran to manage the strait, increasing the total number of blacklisted vessels to 56.

The restrictions are likely ​to further ⁠constrain efforts to export oil via the strait, which before the war handled about 20% of global oil and liquefied natural gas shipments but has since seen traffic ⁠reduced mostly ​to a trickle.

Iran’s currency hits record low

Iran’s currency, the rial, hit a record low on Wednesday.

Traders in the Tehran market exchanged 2.20 million rials for one US dollar. That was nearly 10% higher than last week’s record, set on August 25, when one dollar was sold at 2.02 million rials.

The currency had already been under pressure before the U.S. and Israel attacked Iran on February 28 as Iran battled double-digit inflation and negative growth.

The rial has repeatedly hit new lows since the conflict started more than six months ago. The troubled currency ​has lost about half of its value ⁠in a year ​of tightening ​US sanctions ​and American ​and ‌Israeli attacks.

Updated

The Latest, the evening edition of Today in Focus, features a conversation between host Lucy Hough and Middle East correspondent Will Christou about the conflict between the US and Iran.

During the eight-minute update, they talk about Tehran accusing Washington of a ‘war crime’ after a missile blast reportedly killed wedding guests, including a young child.

Christou talks about how the latest exchange of strikes are part of a “cycle of escalation” in the tension between the two nations.

Chinese president Xi Jinping urged Middle Eastern countries on Wednesday to oppose “external interference” and said Beijing was ready to work with regional states to safeguard maritime shipping, jeopardised by the US-Iran war.

Xi’s remarks to his Egyptian counterpart Abdel Fattah al-Sisi, on his first visit to Cairo in a decade, come as Beijing seeks a greater foothold in the region, expanding investment while managing fallout from the six-month conflict.

“We must uphold the principle that the people of the Middle East are the masters of their own affairs, oppose external interference (and) support regional countries in strengthening dialogue on peace and security,” Xi said in a meeting with Sisi, according to Chinese state news agency Xinhua.

Trump suggests strait of Hormuz could be renamed 'Trump strait'

US president Donald Trump has suggested renaming the strait of Hormuz ‘Trump strait’.

In a post on his Truth Social network, he wrote:

Now that we have it under U.S.A. control, should we change the name Hormuz Strait to TRUMP STRAIT??? Like America itself, it would be “hotter” than ever before!

Trump has in recent weeks repeatedly pressed a threat to claim sovereignty over the strait of Hormuz, even posting a map showing the waterway as a “new US territory.”

Updated

Iranians expressed regret at the return to hostilities including the deaths at the wedding.

Hossein Moazami, 50, who is self-employed, called the attacks “truly distressing”. “I hope they all return to the negotiating table, because the only people suffering from this are the Iranian people,” he said.

“The Americans are on the other side of the world, and nothing happens to them.”

A video shared by an Iranian government account showed debris and damage at what it said was the wedding site in Sirik after the US strike, with people heard screaming in the background.

“It is a very saddening incident … Thank God the casualties were not higher,” Ali Mallahi, father of the bride and owner of the building that was hit, said in a video carried by state TV.

Top diplomats in Egypt and Qatar have called for the US and Iran to return to the negotiating table in line with their collapsed ceasefire deal.

Foreign minister Badr Abdelatty of Egypt spoke by phone on Wednesday with his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani.

The ministers warned that the ongoing escalation threatens “dire consequences on the region’s security and stability,” the Egyptian foreign ministry said.

Updated

Iranian border ⁠guards have seized a vessel with ⁠382,000 ⁠litres of ​smuggled fuel in the northern Gulf, ⁠and arrested its foreign crew ⁠of 11, the state broadcaster ​IRIB ‌reported ‌on Wednesday, without giving ‌the nationality of the detained.

Iran, which has some of the world’s lowest fuel ‌prices due to heavy subsidies and a ​sharp fall in the value of its national currency, ⁠has been seeking to ​curb ​widespread fuel ​smuggling by land to ​neighbouring ‌countries ​and ​by sea to Gulf states.

My colleague, William Christou, has the full report on the missile blast that killed at least four people and injured 68 at a wedding in a private home in southern Iran. You can read that here:

Trump nominates loyalist Hung Cao to be permanent navy secretary amid increased attacks on Iran

Donald Trump has picked acting navy secretary Hung Cao to take on the job permanently amid concerns that some sailors have been stretched to the limit during his Iran war.

“I am pleased to nominate a true WARRIOR,” Trump wrote on social media, pushing the Senate “to confirm this Warfighter, ASAP.”

Cao has been serving as acting navy secretary since John Phelan departed the job unexpectedly and without explanation in late April. Unlike Phelan, who had not served in the military or had a civilian leadership role in the service, Cao spent 25 years in the navy as a special operations officer and went on to serve with Seal teams and special forces in Iraq and Afghanistan.

Cao on social media called it the “honor of a lifetime to lead the great warriors of the Navy and Marine Corps team”.

For more US politics news, my colleague Victoria Bekiempis has the latest updates on our live blog here:

Here is a video featuring clips shared by Iranian media of the reported US strike in Sirik in the south of the country that hit a wedding ceremony, killing four people and wounding dozens more. US central command (Centcom) denied targeting civilians and also released footage purportedly showing missile and drone strikes on Iranian military sites.

Iran security official warns US will face ‘new war strategy’ amid renewed fighting

Mohsen Rezaei, the leader of Iran’s supreme national security council, said he will unveil Tehran’s “new strategy on the battlefield, in diplomacy, and in countering the economic blockade”, in a message aimed at the US. He did not elaborate further.

In a post on X, he said:

With all this flailing about, not only will you not emerge from the hell you have created for yourselves, but you will soon see that Iran’s new strategy on the battlefield, in diplomacy and in confronting the economic blockade will shatter your foundations.”

Updated

The day so far

  • An Iranian official has accused the US of committing a war crime following a reported deadly strike that hit a wedding party in southern Iran. The Iranian foreign ministry spokesperson, Esmail Baghaei, said: “The truth of this unlawful war of choice – and the true face of the war crime – is in Sirik, where a wedding ceremony was brutally bombed as part of America’s desperate struggle to conceal its failure, not in AI-generated videos portraying American officials as triumphant heroes.”

  • Iranian state media has shared video from the site of the reported attack in Sirik, southern Iran, where officials say US strikes hit a wedding ceremony in a residential area, killing four people including two children aged four and 16. Footage reportedly filmed inside the building where the wedding took place shows a debris-strewn floor, with women’s and girls’ embellished sandals and garlands scattered among the wreckage.

  • The US military said it was aware of the allegations but that it “never targets civilians”. The US central command (Centcom) said it hit Islamic Revolutionary Guard Corps (IRGC) targets in a wave of strikes last night, including “air defence sites, radar systems, maritime assets and facilities, mine laying capabilities, and communications sites”.

  • The Iranian Red Crescent has written to the international criminal court ICC) calling for legal action to be taken against the US following the wedding attack. The humanitarian organisation said it could constitute a war crime.

  • The USS Abraham Lincoln, a US aircraft carrier at the centre of a row over conditions on board after months at sea as part of Donald Trump’s war against Iran, has arrived off a Thai port. Reports of deteriorating living conditions and poor mental health on the vessel, including attempted suicides, have made headlines around the world, provoking criticism of the president’s actions in the Middle East.

  • Saudi Arabia has blamed Iran for the attack on an oil tanker on Monday that killed two people. Earlier, Saudi Arabia’s national ⁠shipping company, ⁠Bahri, ​confirmed two seafarers from the Philippines died when its crude carrier Sidr was struck by unknown projectiles as it sailed out of the strait of Hormuz.

  • Russia has secretly helped Iran build supersonic cruise missiles, according to the Financial Times. The covert programme, codenamed C340L, reportedly began in 2023 and has continued throughout the US and Israels war on Iran.

  • Pakistan said it remains engaged in diplomatic efforts to resolve the crisis in the Middle East as it urged the warring parties to return to the negotiating table. “Pakistan remains engaged, alongside our brotherly countries, in sincere efforts to resolve the crisis with respects to the standoff between Iran and the United States,” the Pakistani foreign ministry spokesperson, Tahir Andrabi, said in a press briefing.

  • An Israeli strike on south Lebanon killed one person, Lebanese official media said, while Israel said it targeted Hezbollah in retaliation for an attack targeting its soldiers in the south. “One person was killed and another wounded in a strike launched by an enemy drone” in the city of Nabatieh, Lebanon’s state-run National News Agency (NNA) said, also reporting other Israeli strikes on the area.

Updated

An Israeli strike on south Lebanon killed one person on Wednesday, Lebanese official media said, while Israel said it targeted Hezbollah in retaliation for an attack targeting its soldiers in the south.

“One person was killed and another wounded in a strike launched by an enemy drone” in the city of Nabatieh, Lebanon’s state-run National News Agency (NNA) said, also reporting other Israeli strikes on the area.

Israel’s army said the Iran-backed Hezbollah group overnight “launched two explosive drones” towards Israeli soldiers in Ali al-Taher Ridge area, reporting no troop casualties.

In response, the Israeli military said it struck Hezbollah infrastructure in the Nabatieh area.

The USS Abraham Lincoln, a US aircraft carrier at the centre of a row over conditions on board after months at sea as part of Donald Trump’s war against Iran, has arrived off a Thai port.

Reports of deteriorating living conditions and poor mental health on the vessel, including attempted suicides, have made headlines around the world, provoking criticism of the president’s actions in the Middle East.

A heavy security presence was in force at Laem Chabang port near Pattaya, south of Bangkok, where the 5,000-strong crew of the USS Abraham Lincoln arrived on Wednesday morning after more than 270 days at sea.

The huge nuclear-powered ship left California in November 2025 for duty in the South China Sea and was rerouted to the Middle East before US-Israeli attacks on Iran that began six months ago.

Read more:

Iran accuses US of war crime over deadly strike on wedding

The Iranian foreign ministry spokesperson, Esmail Baghaei, has accused the US of committing a war crime following a reported deadly strike that hit a wedding party in southern Iran.

In a post on X, he said: “The truth of this unlawful war of choice – and the true face of the war crime – is in Sirik, where a wedding ceremony was brutally bombed as part of America’s desperate struggle to conceal its failure, not in AI-generated videos portraying American officials as triumphant heroes.”

Iranian media has published more images from the site of the attack, as seen in the newswire pictures below:

The Iranian attacks reported across the Middle East

Several Iranian attacks have been reported across the Middle East. Here is a summary of the incidents so far (as per news agencies):

  • Jordan said its military dealt with 13 missiles, 10 of which were intercepted ‌and three which fell in remote areas. Iran said it killed US ‌forces in Jordan, but American officials told Reuters there had not been any casualties.

  • Kuwait, which is known to host some US troops in its vast Ali Al Salem airbase, said a fire broke out at a residential complex in its capital after it was hit by an Iranian drone this morning. It said the blaze had been contained and there were no casualties. Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed that a “number” of “enemy” forces were killed and drones were destroyed in a missile and drone attack on Ali Al Salem airbase, but this has not been confirmed by either the American or Kuwaiti military.

  • Bahrain, which houses the regional headquarters of the US navy, said its air defences “repelled, intercepted and destroyed a number of treacherous Iranian air attacks” today, without providing further details.

  • The IRGC said it carried out missile and drone attacks on US bases in Erbil in northern Iraq, claiming to have killed several personnel there. Neither Iraq nor the US confirmed the attack.

Saudi Arabia blames Iran for attack on oil tanker that killed two people

Saudi Arabia has blamed Iran for the attack on an oil tanker on Monday that killed two people.

As reported earlier, Saudi Arabia’s national ⁠shipping company, ⁠Bahri, ​confirmed two seafarers from the Philippines died when its crude carrier Sidr was struck by unknown projectiles as it sailed out of the strait of Hormuz.

In a statement on social media, the Saudi foreign ministry said:

The ministry of foreign affairs expresses the Kingdom of Saudi Arabia’s condemnation of the Islamic Republic of Iran’s targeting of the Saudi tanker (Sidr) while the tanker was passing through the strait of Hormuz, and the resulting fatalities among the tanker’s crew.”

The ministry said it also condemned the Iranian attacks against Jordan, Bahrain and Kuwait, while “affirming its full solidarity with brotherly countries in the measures they take to protect their security and safety from any threat”.

Updated

Washington has not officially responded to reports that the US military hit a wedding ceremony in southern Iran during a wave of strikes last night. The Associated Press reported the US military said it was aware of the allegations but that it “never targets civilians”.

The US central command (Centcom) said it struck Islamic Revolutionary Guard Corps (IRGC) targets including “air defence sites, radar systems, maritime assets and facilities, mine laying capabilities, and communications sites”.

“The strikes follow recent attempted attacks by the IRGC against commercial shipping in the strait of Hormuz and against American service members,” Centcom said in a statement last night. It also published footage purportedly showing the attacks.

Iranian Red Crescent calls on ICC to investigate wedding attack

The Iranian Red Crescent has written to the international criminal court ICC) calling for legal action to be taken against the US following last night’s reported attack on a wedding ceremony in southern Iran.

The humanitarian organisation said the attack in Sirik, Hormozgan province, which it said killed four people including two children and injured dozens of others, could constitute a war crime.

In a letter to the ICC, published on its X account, the Iranian Red Crescent said: “Given the reported civilian character of the location as the venue of a family wedding ceremony, as well as the presence of civilians at the site, the incident raises serious concerns under international humanitarian law and warrants an independent, impartial, thorough, and effective investigation.”

It added: “Should an independent investigation establish that the wedding venue and the persons present therein were of a civilian character, that no lawful military objective was present at the location, or tha the attack was carried out without due regard for the requirements of distinction, proportionality, and precautions in attack, the incident may constitute a serious violation of international humanitarian law and, where the requisite elements are established, a war crime.”

Israel ready to respond 'with great force' if Iran attacks, says defence minister

The Israeli defence minister, Israel Katz, said his military is ready to respond “with great force” if Iran attacks Israel, amid renewed fighting between the US and Iran in the Middle East.

Speaking at a conference hosted by the Israeli news outlet Ynet, Katz said: “We do not want to be caught off guard; we are prepared. It must be understood: the IDF [Israel Defense Forces], including the air force, is prepared to strike in Iran.

“If they attack us, we will respond with great force, without relying on anyone.”

He added: “At the moment, we are allowing the Americans [to attack] because of their interests in the Hormuz energy corridor.

“In the meantime, they [Iran] are striking the entire region except for us. But there is a likelihood that they will indeed attack. We are prepared for this defensively.”

Iranian state media has shared video from the site of the reported attack in Sirik, southern Iran, where officials say US strikes hit a wedding ceremony in a residential area, killing four people including two children aged four and 16.

Footage reportedly filmed inside the building where the wedding took place shows a debris-strewn floor, with women’s and girls’ embellished sandals and garlands scattered among the wreckage. A separate video shows the heavily damaged building from the outside, with a large hole visible in the roof. Here is an image from the footage released by the Iranian Red Crescent:

Updated

Russia secretly helping Iran develop supersonic cruise missiles - report

Russia has secretly helped Iran build supersonic cruise missiles, according to the Financial Times.

The covert programme, codenamed C340L, reportedly began in 2023 and has continued throughout the US and Israels war on Iran. The newspaper, citing Russian correspondence, travel records and military patents, reported that the programme was “one of the most significant known transfers of strategic military technology from Moscow to Tehran”.

According to the report, some of Russia’s most experienced missile specialists are helping Iran develop a ramjet propulsion system that could allow anti-ship and land-attack cruise missiles to travel at several times the speed of sound, making them more difficult to detect and intercept.

Jim Lamson, a former CIA military analyst, said: “For the Iranians, this would give them a qualitatively new strategic weapon system that could threaten US navy vessels.”

Fabian Hinz, an expert on Iranian missiles and senior analyst with Conflict Armament Research, told the Financial Times that such a programme “would require political clearance from the very top in Russia”.

Ryanair has warned that air fares in Europe will jump next year if the oil price remains high and that some airlines could go bust.

The Irish budget carrier has cut its passenger target for the year to 31 March, down from 216 million customers to 214 million, to help reduce its exposure to “unhedged winter oil” during the unprofitable off season, with jet fuel currently trading at $140 (£104) a barrel.

Ryanair expects passenger numbers between November and March to be broadly flat compared with the same period last year.

The company said: “If high oil prices continue through to summer 2027, Ryanair believes short-haul air fares in Europe will increase materially to reflect higher oil prices, as some less well-hedged competitors will struggle to maintain capacity or even survive this coming winter season.”

Brent crude, the global oil benchmark, touched $97.04 a barrel on Wednesday, the highest since late July, after renewed clashes between the US and Iran fuelled concerns over supply. It later eased back to just below $95.

Read more:

Two people killed in Monday attack on Saudi oil tanker in Hormuz strait, shipping firm says

Two seafarers were killed in an attack on a Saudi Arabia-flagged oil tanker as it transited the strait of Hormuz, a shipping company has confirmed.

The crude carrier Sidr was struck by unknown projectiles on Monday about 16.6 nautical miles (19 miles) north-east of Khasab, Oman, Reuters reported, citing shipping tracking data.

Saudi Arabia’s national ⁠shipping company, ⁠Bahri, ​said ⁠two ​Filipino ‌seafarers were ‌killed in the incident.

In a post on X this morning, Bahri said: “The company extends its deepest condolences and heartfelt sympathies to their families, loved ones, and colleagues during this difficult time, and is providing its full support to the families and colleagues affected by the incident.”

The incident comes amid a series of attacks on commercial vessels in and around the strait of Hormuz since the conflict between the US, Israel and Iran began in February, with dozens of attacks and a number of seafarers killed.

Brent crude oil price hits $97

Oil has hit its highest level in almost six weeks today, after the US and Iran exchanged airstrikes.

Brent crude traded as high as $97 a barrel, for the first time since 24 July, having jumped by 4.6% yesterday.

ING analysts told clients:

Developments in recent days brought risks to regional oil supplies back into focus ... We’ve seen oil flow through the Strait of Hormuz despite the stalemate between the US and Iran, but rising tensions clearly put crossings at risk.”

For the latest updates on the financial markets and the world economy, you can follow our business live blog here:

Pakistan said it remains engaged with Iran and US on talks to end war

Pakistan said it remains engaged in diplomatic efforts to resolve the crisis in the Middle East as it urged the warring parties to return to the negotiating table.

“Pakistan remains engaged, alongside our brotherly countries, in sincere efforts to resolve the crisis with respects to the standoff between Iran and the United States,” the Pakistani foreign ministry spokesperson, Tahir Andrabi, said in a press briefing.

He said the Pakistani prime minister, Shehbaz Sharif, met the president of Iran, Masoud Pezeshkian, on the sidelines of the Shanghai Cooperation Organisation (SCO) summit, where Sharif “reiterated Pakistan’s sincere commitment to peace through dialogue and diplomacy”.

Andrabi added: “We underscored that the understanding reached under the Islamabad MoU [memorandum of understanding] offers the most viable pathway towards lasting peace and stability in the region.”

The June memorandum of understanding signed in the Pakistan capital declared an end to the fighting, but it left some of the more contentious issues unresolved, leading to a wider 60-day period of negotiations that ultimately expired without a further deal.

IRGC says four personnel killed in US attack

Iran’s Islamic Revolutionary Guard Corps (IRGC) said four of its personnel were killed in a US attack in the western Iranian province of Kermanshah, according to state media.

The group said the four named personnel were members of the aerospace force in Kermanshah. It did not provide further details.

Iran's top negotiator condemns US after reported fatal attack on wedding

Mohammad Bagher Ghalibaf, Iran’s top negotiator, has condemned the reported US attack on a wedding in the south of the country which is said to have killed two children, likening the US to “Satan”.

In a post on X, Ghalibaf listed two other US attacks in Iran in which several children were reported to have been killed, including the bombing of a school in Minab and strikes on a sports hall in Lamerd.

“If a power acts like Satan, picks targets like Satan, and kills like Satan, it’s Satan,” Ghalibaf said.

We have some pictures on the newswires which are believed to be taken in Sirik, southern Iran, where state media reported a US attack killing four people at a wedding. The victims reportedly included a four-year-old boy and a 16-year-old teenager.

Opening summary

Welcome to our live coverage of the crisis in the Middle East.

A fresh flare-up in hostilities has seen the US hit Iran with broader and more intense strikes, with Iranian state media reporting 11 people killed in overnight attacks including four people at a wedding.

A four-year-old boy was among those killed at the wedding after a series of US strikes near the Iranian southern port city of Sirik, Iran’s Fars news agency reported. The Iranian Red Crescent said more than 50 people were injured when shrapnel hit a home where the wedding was taking place in Hormozgan province. The US has yet to comment on the reports.

Iran’s Islamic Revolutionary Guard Corps (IRGC) said the US military had “turned the wedding celebration of a young and respectable Sunni couple into a mourning by bombing a residential house in Sirik and reducing it to dust and blood”, according to a statement carried by state media. “In this malicious attack, nearly 70 innocent people were hit, and four of them, including a child, were martyred.”

The IRGC said it responded to the attacks with strikes on US military bases in Kuwait, Jordan, Bahrain and Iraq’s Erbil. The group claimed that a “number” of “enemy” forces were killed and drones were destroyed in a missile and drone attack on Ali Al Salem airbase in Kuwait, which is known to host some US troops, but this has not been confirmed by either the American or Kuwaiti military.

Kuwait said it came under missile fire and drone attacks this morning, with a fire breaking out at a residential complex in the capital. The fire was brought under control, and no casualties were reported. “Kuwaiti air defences are currently responding to hostile missile and drone attacks,” the Kuwaiti army said on X, urging citizens to follow safety instructions.

Donald Trump warned that if Iran retaliated, “they will be hit again at a much harder and higher level”.

“But it will not be the biggest attack of them all, that is waiting in the wings and, when it is over, there will be very little left of the Islamic Republic of Iran,” the US president wrote on his Truth Social app last night.

In a subsequent post overnight, he said he was “not trying to force Iran to the bargaining table” and that he “couldn’t care less if they sign a worthless, to them, agreement”.

“I like our position now much better, with almost total control of the Hormuz strait, and their economy totally collapsing,” he added.

In other developments:

  • In a call with Fox News, Trump reportedly reiterated that Iran would be “totally wiped out” if it launches retaliatory strikes against the US. “This is a very big hit today. If it goes a third time, they’re going to be totally wiped out as a country,” Fox News quoted the US president as saying. Trump has previously threatened to bomb Iran “back to the stone ages”, and said in April that “a whole civilization will die tonight” if a peace deal wasn’t reached.

  • IRGC spokesperson Sardar Mohebi said in a post on X that the US will face “severe punishment” and that it “will regret its new attacks”.

  • Jordan’s army said that 10 out of 13 Iranian ballistic missiles were intercepted and the other three fell in remote areas. It followed claims from the IRGC that it had killed “a large number of US forces”, while destroying “several installations and enemy attack helicopters” in a ballistic attack on US Marines’ barracks at Camp Titin, a military site near Aqaba. Reuters and Al Jazeera have since both reported, citing US sources, that there were no injuries or damage to the barracks.

  • This phase of fighting began when the US military said it had struck rocket launchers on Larak Island in the strait of Hormuz on Sunday, in its first strikes on Iran since July, after it detected the Iranians were planning to deploy fresh mines in the critical waterway. Tehran responded by launching missiles at US sites in Jordan, which were intercepted, and the UAE, which said it had stopped an Iranian drone over its territorial waters.

  • Iranian president Masoud Pezeshkian said that if the US returns to a peace deal aimed at ending months of hostilities, Iran “will immediately take reciprocal action”, according to the Iranian presidency’s website. He also thanked Russian counterpart Vladimir Putin for Moscow’s stance on the conflict. Putin and Pezeshkian held talks on the sidelines of the Shanghai Cooperation Organisation (SCO) summit, attended by over a dozen leaders including China’s Xi Jinping and Indian prime minister Narendra Modi.

Updated

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