Top updates: Iran names Mojtaba Khamenei as new supreme leader, oil prices surge above $100 a barrel

Iran’s Assembly of Experts has named Mojtaba Khamenei to replace his father, Ayatollah Ali Khamenei, as the country’s supreme leader, state media reported on Sunday.

Ayatollah Ali Khamenei was killed on March 1 during a joint military operation by the United States and Israel. The conflict in West Asia began on February 28 after the two countries launched a joint operation to “degrade the capabilities” of the Iranian government.

Tehran retaliated by striking Israel and US military bases in the region, and targeting major cities in other Gulf countries and some ships.

Meanwhile, as the conflict in West Asia entered its tenth day, global oil prices crossed $100 a barrel on Monday, the highest since July 2022. The oil prices have risen by about 20% since the war broke out as the escalating tensions raised fears of disruption to shipments through the Strait of Hormuz.

The narrow waterbody connects the Gulf to the Arabian Sea. About 20% of global petroleum liquids consumption traverses the maritime chokepoint.

On March 2, Iran claimed that the Strait of Hormuz was “closed” for shipping traffic, warning that any vessel attempting to pass through the strategic waterway would be set on fire.

Here are more top updates from the conflict in West Asia:

• Following the announcement of the appointment of a new Iranian supreme leader, the Israeli military said...

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