Iran has elected Mojtaba Khamenei as its new Supreme Leader, succeeding his father. This decision comes amid heightened tensions in the Middle East, with recent reports of airstrikes in the Gulf region leaving dozens injured in Bahrain and resulting in the death of a seventh U.S. soldier in Saudi Arabia. Israel has launched new attacks on Beirut and central Iran, prompting Tehran to fire missiles just hours after the leadership change. Meanwhile, the U.S. Department of Defense is investigating a suspected U.S. military airstrike near a school-adjacent naval base. In financial markets, Bitget data indicates that oil prices have surged past $100 per barrel, marking a four-year high and causing declines in Asian markets.