Israel Says Iran Has Launched Missiles In Direct Attack

(Bloomberg) -- The Israeli military on Tuesday said that Iran had fired more than 100 missiles directly at the country, a severe escalation in the battle between the Middle Eastern rivals fought mainly so far through proxies. 

“A short while ago, missiles were launched from Iran towards the State of Israel,” the Israel Defense Forces said in a statement. Iran’s Mehr News Agency also reported the missiles had been fired. 

The launch comes after Israeli forces moved into southern Lebanon as part of a campaign against Tehran-backed Hezbollah. The US earlier in the day warned of an imminent attack by Iran.

Oil price briefly spiked again after the confirmation, while gold rose and stocks declined.

The White House said that President Joe Biden convened a meeting earlier Tuesday with Vice President Kamala Harris and their national security team. They reviewed the status of US preparations to help Israel defend against these attacks and protect US personnel in the region.