Israel’s attack on the Iranian nuclear program and its ballistic missile sites threatens to spark wider fighting in the Middle East that risks drawing in the US, according to Bloomberg Economics.

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Iran vowed retaliation for the attack by Israel, which Iranian state media said killed two top Iranian security leaders along with nuclear scientists.

Global oil prices have had their largest single-day percentage increases in years, reflecting fears that a wider conflict in the Middle East could lead to serious energy supply disruptions.

Israel has launched a major attack on Iran, raising fears that the long-running shadow war between the adversaries may spiral into a more dangerous regional conflict.

Oil futures gained more than $4 a barrel after Israel’s attack on Iran, stoking fears of a regional conflict that could disrupt global energy flows.

That wider war could draw in Iran, and other regional militias that it has armed for decades could play a role in any attack. Here’s a look at Iran’s history of arming militias, its allies in ...