Iran and Israel have launched a fresh wave of attacks on each other in a development that continues to raise fears of the wider region being plunged into a destabilising conflict. Iranian missiles struck Tel Aviv and the port city of Haifa shortly before dawn on Monday,

Sterling was muted against the dollar on Monday ahead of a Bank of England meeting this week, with markets adopting a wait-and-see approach to rising geopolitical uncertainty, as a conflict between Israel and Iran showed no sign of abating.

The UK sent jets and air tankers amid fears Iran will blockade Strait of Hormuz and spark massive oil price hikes.

Iranian missiles damaged the US embassy in Tel Aviv, escalating tensions. Israel retaliated with strikes on Iran's energy sector, while both sides continued attacks.

Global energy executives gathered in the Malaysian capital on Monday for an industry conference with an eye on the dramatic escalation in the conflict between Israel and Iran, which has fuelled worries that it could widen and disrupt supply.

In many ways, it’s conceivable that Israel's Operation Rising Lion will alter the military balance of power in the Middle East more so than the 1991 Persian Gulf War.

Donald Trump declared that, “for the first time in a thousand years, the world will look at this region not as a place of turmoil and strife, and war and death, but as a land of opportunity and hope.”

Attacks force shift in U.S. plan for diplomatic deal in Iran and efforts to disentangle from region.

The US State and Defense departments on Wednesday made efforts to arrange the departure of non-essential personnel from locations around the Middle East, according to US officials and sources familiar with the efforts.

President Donald Trump will travel to Alberta, Canada, later today to participate in the Group of Seven meeting amid a widening conflict between Israel and Iran and his ongoing trade war.