• Escalating hostilities between Israel and Iran result in significant civilian casualties.
• Both nations urge their citizens to evacuate near critical military targets.
• The conflict prompts urgent discussions among G7 leaders on de-escalation strategies.
• Oil prices surge amidst fears of broader regional instability.
• Iran vows retaliation, declaring it will "open the gates of hell."

The conflict between Israel and Iran has intensified with both nations launching fresh attacks, resulting in widespread civilian casualties and prompting urgent evacuations. Recent reports indicate at least 224 fatalities in Iran, predominantly among civilians, as a result of the Israeli military’s strikes aimed at neutralizing Iran’s nuclear and ballistic missile capabilities. Conversely, Israeli officials confirm the deaths of at least 10 civilians, including children, due to Iranian missile strikes in cities like Haifa and Bat Yam, according to Channel News Asia, The Jakarta Post, and Reuters.

In a show of intense military activity, the Israeli military has advised Iranian citizens to vacate areas near military installations while Iranian officials have similarly urged residents in Israel to flee vital regions. Israeli Prime Minister Benjamin Netanyahu has declared that Iran "will pay a heavy price" for its attacks, underscoring the gravity of the situation as a potential broader regional conflict looms, according to Channel News Asia and Reuters.

The magnitude of the conflict has caught the attention of world leaders, particularly as the Group of Seven (G7) convenes in Canada to address the escalating tensions. G7 leaders plan to discuss strategies to prevent further violence and to ensure Israel's right to self-defense within the context of broader peace negotiations. German Chancellor Friedrich Merz expressed hope that the summit would lead to steps to halt Iran's nuclear ambitions, as the situation remains precarious, based on reports from Channel News Asia and Reuters.

Financial markets have reacted to the ongoing conflict with a notable rise in oil prices as fears of supply disruptions loom. As Israeli operations target Iranian oil and gas sectors, Brent crude and West Texas Intermediate prices have surged dramatically, adding pressure on the global economy, as reported by Channel News Asia, The Jakarta Post, and Reuters.

In Washington, U.S. President Donald Trump has faced questions regarding U.S. involvement and rebutted claims of direct support for Israel's actions. He stated that the U.S. military has been active in intercepting Iranian missiles aimed at Israel, while also denying involvement in the Israeli offensive. Trump has expressed a desire for a diplomatic solution yet emphasized the necessity for military action to deter Iranian aggression. This sentiment was echoed in multiple announcements prior to the G7 summit, citing the need for a resolution to the conflict, according to Channel News Asia, The Jakarta Post, and Reuters.