Israeli rescue workers said five people had been killed in an Iranian missile barrage on the country’s cities as the conflict entered a fourth day.
The rocket attacks followed Israeli strikes on missile sites in central Iran, extending the conflict that started when Israel attacked Iranian nuclear facilities, military sites and residential areas on Friday.
The latest assault came as international leaders arrived in Canada for a G7 summit and said diplomatic efforts to resolve the crisis would be a priority.
Oil prices jumped when trading resumed in Asia on Monday, with analysts saying they feared more disruption to global energy markets. The region accounts for a third of the world’s oil production.
Brent crude futures, the international oil benchmark, jumped as much as 5.5 per cent to $78.32 a barrel during early trading in Asia before paring gains to about $74.82. Prices for West Texas Intermediate, the US benchmark, rose 2 per cent to $74.46 a barrel.
Gold prices initially rose 0.6 per cent to $3,451 a troy ounce, close to its record high, but subsequently declined to around $3,419.
Asian stock markets were subdued but longer-term US Treasury yields rose as higher oil prices threaten to increase inflationary pressures on the world’s largest economy.
