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Israel carries out strike in Iran, a US official says
From CNN's Alex Marquardt
Israel has carried out a strike inside Iran, a US official tells CNN, in a move that threatens to push the region deeper into conflict.
The target is not nuclear, the official said.
Prior to the Israeli strike Friday (local time), the US expectation was that they would not target civilian or nuclear facilities, another senior US official told CNN.
CNN has previouslyreportedthat Israel told the US its response would be limited in scope. US intelligence had suggested Israel was weighing a narrow and limited strike inside Iran because they feel like they have to respond with a kinetic action of some kind given the unprecedented scale of the Iranian attack
The range of targets was “never specified in precise terms but nuclear and civilian locations were clearly not in that category,” the second official added.
The US has been urging Israel not to respond to last weekend’s Iranian attack, which President Joe Biden on Thursday called “unprecedented.” The US “didn’t green light” an Israeli response, the second official said.
This post has been updated with the latest developments.
Oil prices surge, Dow futures sink nearly 500 points on reports of explosions in Iran
From CNN’s Matt Egan and Laura He
Oil prices surged nearly 4% and US stock futures fell sharply Thursday evening amid reports of explosions in Iran.
In recent trading, US oil prices climbed 3.7% to $85.80 a barrel. Brent crude, the world benchmark, gained 3.4% to $90.13 a barrel.
Energy prices moved sharply higher as Iranian news agencies reported explosions heard near Iran’s Isfahan Airport.
The developments drove US stock futures steadily lower, with Dow futures down 480 points, or 1.3%. Nasdaq futures lost almost 2%.
“The market has been on edge since Iran launched a missile and drone attack on the Jewish state over the weekend,” said analysts from ANZ on Friday.
“Israel’s response could determine whether oil supplies are ultimately under threat.”
Gold futures were up 1% at $2,422.4 per ounce in morning Asian trade with investors piling into safe-haven investments.
But stock markets in Asia sank as appetite for risk weakened, according to analysts.
Japan’s Nikkei 225 slid 3.5%. South Korea’s Kospi lost 3%. Hong Kong’s Hang Seng Index fell 1.5%. China’s Shanghai Composite inched down 0.1%.
This post has been updated with more information.
Multiple explosions heard near military base in Isfahan province, semi-official news agency says
From CNN's Adam Pourahmadi
Iranian semi-official FARS newsis reporting that threeexplosions were heard near the military base where fighter jets are located in the Isfahan province.
"The defense is activated in response to an object that is likely to be a drone," sources tell FARS news.
It has been said that the army radar was one of the possible targets and the windows of several office buildings were broken in this area, FARS reports.
The cause of the blasts are not yet known.
Reports of the explosion come hours after Iran’s Foreign Minister Hossein Amir-Abdollahiantold CNNthat ifIsraeltakes any further military action against Iran, its response would be “immediate and at a maximum level.”
Outgoing flights from several Iranian airports canceled, Iranian state TV reports
From CNN's Jennifer Hauser
Iranian state media Press TV is reporting outgoing flights from several Iranian airports have been canceled, citing an Iranian official.
All flights going to Tehran, Isfahan and Shiraz had already been suspended, the director of Iran’s public relations for an airport company announced in an interview with state-run Mehr TV.
Iran's air defense systems have been activated in several provinces, state news reports
From CNN's Hamdi Alkhshali
Iran's air defense systems have been activated in several provinces of the country, state news IRNA reported in the early hours of Friday local time.
Iran says flights to Tehran, Isfahan and Shiraz are suspended
From CNN's Hamdi Alkhshali and Artemis Moshtaghian
All flights heading to the cities of “Tehran, Isfahan and Shiraz, the airports of the West, North West and South West have been suspended," the director of Iran’s public relations for an airport company announced in an interview with state-run Mehr TV.
The suspension is effective immediately, but flights have not been canceled, the director said.
“Passengers should check the flight information before departure,” he added.
Explosion heard near Iran's Isfahan Airport, Iranian news agencies report
From CNN's Hamdi Alkshali and ArtemisMoshtaghian
An explosion was heardin the Iranian city of Ghahjaworstan, located northwest of the city of Isfahan, according tothe Iranian semi-official FARS news agency, citing local sources.
"The city of Ghahjaworstanis located near Isfahan Airport and the eighth hunting base of the Army Air Force," FARS news said.
Iranian Press TV also reported an explosion was heard near the central city.
The cause of this explosion is unknown.
The post was updated with a map.
At least 8 flights have been diverted over Iranian airspace
From CNN's Jennifer Hauser
Flight tracking website Flight Radar 24 shows multiple flights diverted over Iranian airspace early Friday.
CNN counted at least eight flights.
S&P downgrades Israel's sovereign rating on "heightened geopolitical risk"
From CNN's Luciana Lopez
S&P Global Ratings cut Israel's sovereign credit rating on Thursday to A+ from AA- on increased geopolitical risk from the war with Hamas and friction with Iran.
"In our view, the recent increase in confrontation with Iran heightens already elevated geopolitical risks for Israel," S&P analysts wrote. "We expect a wider regional conflict will be avoided, but the Israel-Hamas war and the confrontation with Hezbollah appear set to continue throughout 2024 – versus our previous assumption of military activity not lasting more than six months."
Israel's rating outlook is negative, which means another downgrade could come again at some point.
Credit ratings are used by markets and investors as a guide to how creditworthy they think a borrower is. A lower credit rating means that a lender will generally ask for a higher interest rate in return for money.
Israel's credit rating is still considered investment grade – a higher tier of ratings than the alternative, commonly referred to as junk ratings – but the S&P move underscores the financial toll on top of the humanitarian effects of the war.
