Israel military says it has launched 'broad wave' of strikes on Iran

Air raid sirens rang out across multiple parts of Israel overnight as the military worked to intercept incoming Iranian fire.

• Israel struck Iranian targets following missile attacks.
• US Navy may escort oil tankers through the Strait of Hormuz.
• Global markets react as tensions rise in the Middle East.

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Israel's military said Wednesday that it launched a "broad wave of strikes" on targets in Iran, after the Islamic republic fired rounds of missile barrages at Israeli territory.

The military said the targets of its latest strikes include Iranian "launch sites, air defence systems, and additional infrastructure."

Air raid sirens rang out across multiple parts of Israel overnight as the military worked to intercept incoming Iranian fire.

There were no immediate reports of significant impact, although police said munitions fell in the Tel Aviv area, where one woman suffered mild shrapnel injuries.

Meanwhile, President Donald Trump said Tuesday the US Navy was ready to escort oil tankers through a crucial Gulf shipping route, as he justified his war on Iran by saying he believed Tehran was about to strike first.

Trump has given often conflicting explanations for the joint US-Israeli attack on Iran, while the president who once campaigned to end to America's Middle Eastern wars has set out no firm endgame.

The attacks and Iran's fiery response have engulfed the Middle East -- while also causing global economic turmoil as shipping avoids the Strait of Hormuz near Iran, one of the world's most vital shipping lanes.

Trump, whose own boasts of economic revival are now also under threat ahead of midterm elections later this year, moved to calm the jitters by saying US warships could help.

"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible," Trump said on his Truth Social platform.

The US president also ordered Washington to provide insurance for commercial shipping. US stocks cut their losses after the announcement, although crude prices continued to rise.