In Iran the supreme leader is the heart of a complex power-sharing theocracy and has final say over all matters of state.

Instead, rising tensions in the Gulf, together with tighter Western sanctions, have this year caused prices to rise by around 20%. Regional conflict and, in particular, a blockage of the Strait of Hormuz—which carries around 15m barrels per day (b/d), roughly a third of global seaborne flows—could push prices towards $100.

Iran's long-time supreme leader had not formally declared a successor ahead of his death in U.S. and Israeli strikes this weekend.

The attack on Iran by the U.S. and Israel has disrupted flights across the Middle East and beyond. Countries around the region closed their airspace.

Follow the latest news after the U.S. and Israel launched a massive attack on Iran that reportedly killed Iran's Supreme Leader Ayatollah Ali Khamenei.

U.S. allies and adversaries responded to the joint attacks by the U.S. and Israel on Iran with concern over the risks of a new war in the Middle East.

Israel says it is targeting sites "in the heart of Tehran", as new Iranian attacks are reported in Tel Aviv, Dubai, Doha and Bahrain's capital Manama.

Eyewitness video shows a crowd in southern Iran toppling a monument dedicated to the Islamic Republic’s founder, Ayatollah Ruhollah Khomeini. Iran’s Supreme Leader Ayatollah Ali Khamenei, Khomeini’s successor,