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

Israel's conflict with Iran represents far more than another Middle Eastern crisis—it marks the emergence of a dangerous new chapter in nuclear rivalries that has the potential to reshape global proliferation risks for decades to come.

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.

Crude oil reversed course Monday amid ongoing tensions between Israel and Iran. This as President Trump heads to the G-7 meeting in Canada. U.S. stocks drifted as investors kick off the week. FOX Business is providing real-time updates on the markets,

The military exchanges worsened between Israel and Iran overnight on Monday as strikes hit residential areas, killing and wounding civilians, as global leaders voiced alarm over the conflict between the two warring enemies spilling into the wider Middle Eastern region,

President Donald Trump vetoed Israel’s plan to kill Iran’s Supreme Leader Ayatollah Ali Khamenei, according to a U.S. official familiar with the matter.

Gold prices soared on Friday as investors flocked to safe-haven assets following Israeli airstrikes on Iran, re-igniting fears of a broader conflict in the Middle East.