The Iranian Parliament Speaker has warned Iran is “definitely not looking for ceasefire,” while adding that the “aggressor” must be taught never to never carry out another attack on the Islamic Republic. Mohammad-Bagher Ghalibaf made the comments on X this morning, in reference to the conflict that has broken out in the wake of US-Israeli strikes on Iran – which began on February 28 and killed Tehran’s long-time dictator Ali Khamenei.

In a defiant statement, Ghalibaf said: “We are definitely not looking for a ceasefire. We believe that the aggressor should be punched in the mouth so that he learns a lesson so that he will never think of attacking our beloved Iran again.” Donald Trump previously called for the current regime’s “unconditional surrender”. But Iran has vowed to fight on and has installed the late Supreme leader’s son Mojtaba Khamenei as his successor.

It comes as Iran launched new attacks on Tuesday (March 10) at Israel and Gulf Arab countries as it kept up pressure on the Middle East, in a war that has impacted the region and beyond, sending oil prices skyrocketing and stunning global economies.

Sirens warning of incoming missiles rang out in Dubai in the United Arab Emirates, and in Bahrain, while Saudi Arabia said it took out two drones over its oil-rich eastern region. Meanwhile, Kuwait’s National Guard said it shot down six drones.

Iran has been carrying out strikes against US military bases in neighbouring Gulf states in retaliation for the US-Israeli strikes which have killed dozens of senior figures in the regime.

Later in the morning, there were sirens in Jerusalem, and sounds of blasts could be heard in Tel Aviv as Israel’s defense systems worked to intercept incoming fire.

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As well as firing missiles and drones at Israel and at American bases in the Middle East, Iran has also been targeting energy infrastructure which, combined with its stranglehold on the Strait of Hormuz – a key global shipping route – sent oil prices soaring.

Brent crude, the international standard, spiked to nearly $120 on Monday before falling back but was still at around $90 a barrel on Tuesday, almost 24% higher than when the war began late last month.

Trump, who has previously said that the war could last for a month or longer, sought to downplay growing fears that the war could drag on, saying it was “going to be a short-term excursion.”

But Israeli Prime Minister Benjamin Netanyahu vowed the strikes on Iran would continue.

Speaking during a meeting with Israel’s hospital and health system leaders, Netanyahu said “Our aim is to bring the Iranian people to cast off the yoke of tyranny, (but) ultimately it depends on them. There is no doubt that with the actions taken so far, we are breaking their bones.”

You can follow the latest developments in Iran and the impact on the global economy on our live blog.