Israel and Iran have begun a new round of attacks, as the conflict between the two heavily armed rivals enters its fourth day.

Iranian news media and residents of Tehran say the damage from the latest Israeli strikes appears to be significant, with several apartment buildings badly damaged. Residents say they are hearing ambulance sirens and fire trucks racing to the scenes and rescue workers are working to find casualties in the rubble.

Israel struck Iran’s state-run television station during a live broadcast, forcing a reporter to run off camera following an explosion, after Iran fired a new wave of missiles at Israel that killed at

The greatest risk the oil markets face is that Iran retaliates against Israel airstrikes by closing the Strait of Hormuz, which is critical to global energy shipments.

Oil prices jumped in early Asian trade on Monday after Israel and Iran launched fresh attacks on Sunday, heightening fears that escalating battle could trigger a broader regional conflict and widely disrupt oil exports from the Middle East.

Oil prices climbed on Tuesday on concerns the Iran-Israel conflict may intensify, raising the risk of further unrest and the potential disruption of oil supply from the key Middle East producing region.