Updated

Israel and Iran trade deadly blows, leaving world and markets on edge

Andrew Tillett, Phillip Coorey and Alex Gluyas

Updated Jun 15, 2025 – 7.25pm, first published at Jun 14, 2025 – 4.35pm

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Canberra/Seattle | Israeli fighter jets bombed Tehran and targeted Iranian fuel depots while the Islamic Republic launched hundreds of ballistic missiles at Tel Aviv at the weekend, driving fears of a widening conflict that will send oil prices soaring and inflation higher.

The relentless strikes left dozens dead in Israel and Iran and hundreds more injured, and will overshadow a G7 meeting of world leaders, including Prime Minister Anthony Albanese, who is heading to Canada for discussions with US President Donald Trump this week.

Andrew Tillett writes on politics, foreign affairs, defence and security from the Canberra press gallery.

Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence.

Alex Gluyas is markets reporter based in the Melbourne newsroom.