Israel struck military sites in Iran early on Saturday, saying it was retaliating against Tehran's strikes on Israel this month, the latest attack in the escalating conflict between the heavily armed rivals

US President Joe Biden said the move was meant "to defend Israel," which is weighing an expected retaliation against Iran after Tehran fired more than 180 missiles at Israel on Oct 1

Crude prices rocketed around five percent Thursday when US President Joe Biden said he was "discussing" possible Israeli strikes on Iranian oil sites in retaliation for Tehran's barrage

Biden was asked on Wednesday whether he would support strikes against Iranian nuclear sites and the US president told reporters: "The answer is no."

All sides are aware that any retaliatory strike against Iran's nuclear or oil installations would send the Middle East spiralling even more towards chaos, but Israel seems not to have made a decision yet.

Iran launched around 180 missiles at Israel last night in response to the killings of Tehran-backed militant leaders, prompting alarm across the region and vows of retaliation.