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Israel has launched a strike against Iran, sharply escalating tensions in the Middle East and sending oil prices soaring. 

“Following the State of Israel’s pre-emptive strike against Iran, a missile and drone attack against the State of Israel and its civilian population is expected in the immediate future,” Israel’s defence ministry said early on Friday morning Israel time. 

Massive explosions were heard across Tehran at about 3:30am local time. Domestic media confirmed the blasts but did not verify whether they were caused by an Israeli strike.

Oil prices jumped on the reports of the strikes, with international benchmark Brent up almost 5 per cent to $72.59 a barrel. S&P 500 futures fell 1 per cent.

This is a developing story