Israel, Iran launch new waves of mutual attacks as war nears fourth week

Iran launched a new wave of attacks on and Israel as well as Gulf energy facilities on Friday morning, hours after Israeli Prime Minister Benjamin Netanyahu claimed to have "decimated" the country.

Kuwait's second-largest oil refinery was forced to close after being attacked by Iranian drones for the second day running, while explosions were heard in Tel Aviv after Iran fired a new missile salvo.

In a televised statement on Thursday, the Israeli prime minister claimed to have destroyed Iran's capacity to enrich nuclear material and manufacture ballistic missiles.

"This war is ending a lot faster than people think," he claimed, without suggesting a timeframe.

Oil prices fell on Friday following Netanyahu's comments as markets interpreted them as a sign the war could soon wind down.

Netanyahu's statement was met with denial from Iran's Revolutionary Guard Corps (IRGC), who claimed that the war had not affected missile production.

"Our missile industry deserves a perfect score… and there is no concern in this regard, because even under wartime conditions we continue missile production," it said in a statement.

The IRGC said however that their spokesperson was killed in fresh Israeli-US airstrikes in Tehran, without saying when the attack took place. Explosions were heard in Tehran on Friday morning as Iranians celebrated Nowruz.

Iran's Supreme Leader Mojtaba Khamenei vowed to "take away the security" of Israel and the United States in a statement issued following the killing of Iran's intelligence minister Esmail Khatib on Thursday.

Khamenei is rumoured to have been injured in the strike that killed his father and has not made a public appearance since being appointed the new supreme leader.

Oil markets on edge

Oil markets remained on edge on Friday morning, with Brent rising to $110 a barrel after Kuwait's state oil company announced the shutdown of the Mina al-Ahmadi refinery.

Oil and gas prices surged earlier this week following Israeli and Iranian strikes on critical energy infrastructure.

QatarEnergy said Thursday that Iran's attack on its giant Ras Laffan gas complex had knocked out almost as fifth of its gas production and would take five years to repair.

Netanyahu pledged not to attack Iran's energy infrastructure on Thursday following public comments from the US president blaming Israel for the strike.

UAE busts Iran 'terror network'

UAE authorities detained at least five people they said were members of a "terrorist network" linked to Iran and Hezbollah, according to state media.

The alleged network had attempted to "infiltrate the national economy and carry out external schemes threatening the country's financial stability," the WAM news agency said.