#IsraelIranConflict

Iran’s strikes may expand to U.S. bases

Iran’s military officials stated that strikes against Israel will continue and may expand to include U.S. bases in the region in the coming days, according to a Saturday report from Iran’s Fars news agency, which is one of Iran’s main semi-official news agencies and seen as closely affiliated with Islamic Revolutionary Guard Corps (IRGC).

"This confrontation will not end with last night’s limited actions and Iran’s strikes will continue, and this action will be very painful and regrettable for the aggressors," Fars reported, citing senior military officials.

The officials were quoted saying that the war would "spread in the coming days to all areas occupied by this (Israeli) regime and American bases in the region."

These statements come as tensions between Iran and Israel escalated on Saturday after Israel conducted what was described as its biggest-ever air offensive against Iran. Israel’s strikes were reportedly aimed at preventing Iran from developing a nuclear weapon.

"Investors should hold gold, build up some cash, tactically overweight US equities relative to global, and prepare for at least minor oil supply shocks – possibly major shocks – as the Israel-Iran war escalates," BCA Geopolitical Strategist Matt Gertken wrote in a note to clients.

Both countries continued targeting each other on Saturday, raising concerns about a potential wider conflict in the Middle East. According to local reports in Israel, at least three people were killed by Iranian strikes and dozens injured.

“We suspect that safe-haven assets will be well supported in the coming days, as markets brace for additional retaliatory attacks and the possibility of a wider conflict," Matthew Ryan, Head of Market Strategy at global financial services firm Ebury, said.