US-Iran war updates: Khamenei’s son tipped as likely new leader as Trump says US ‘decimated’ Iran; Israeli ground troops in Lebanon; Death toll continues to rise

Welcome to our live coverage of the US and Israeli war on Iran. If you’re just joining us here is what you need to know today.

• More than 200 Australians are returning home from Dubai on the first commercial flight bound to Australia from the Middle East since the war began.
• Data shows that half of the petrol stations in Melbourne and Sydney have already increased their prices by at least 5¢, before any international price increases flow through to local bowsers. Treasurer Jim Chalmers said the government had instructed the consumer watchdog to crack down on any price gouging.
• The son of slain Iranian supreme leader Ali Khamenei, Mojtaba Khamenei, is likely to be appointed the country’s new leader by a group of senior clerics, The New York Times reported.
• Thousands of mourners attended the funeral for victims of an airstrike on a girls’ school in southern Iran.
• US President Donald Trump took questions from reporters in the Oval Office for the first time since the start of fighting, justifying the attack on Iran by saying a nuclear war had been imminent. He also said “someone from within” Iran’s government might be best placed to take power when the war ends.
• Four of the six US soldiers killed in a drone strike in Kuwait have been named by the Pentagon. Nicole Amor, Cody Khork, Noah Tietjens and Declan Coady were inside a US command centre in Kuwait when a drone strike killed them.
• Israel has deployed troops in Lebanon, beginning a ground offensive in a new escalation of its campaign against Hezbollah.
• Iranian Kurdish militias have consulted with the United States in recent days about whether to attack Iran’s security forces in the western part of the country.

• Read more on the US-Israel-Iran war:
  • “This isn’t Winston Churchill”: Trump sprays Starmer, says Iran decimated
  • Tracking the war: Where the US struck and where Iran retaliated
  • Israel attacks Lebanon: What is Hezbollah and why is Israel attacking Lebanon?
  • The three men to stop Trump: Who are the Islamic Republic’s interim leadership team?
  • Opinion: This war is likely to be long and bloody, writes Amin Saikal

Thank you for reading our coverage of the US and Israeli war on Iran. This live blog has now concluded, but our coverage will continue here.

Here’s what we covered today.

• More than 200 Australians are less than one hour away from touching down in Sydney, returning home from Dubai on the first commercial flight to Australia from the Middle East since the war began.
• The next supreme leader of Iran will be announced by the Assembly of Experts soon, according to state media. Mojtaba Khamenei, the son of killed leader Ali Khamenei, is likely to be appointed the country’s new leader by a group of senior clerics, The New York Times reported.
• Israel has vowed any Iran appointed leader who threatens it or the US or seeks to oppress the Iranian people will “be an unequivocal target for elimination”.
• Thousands of mourners attended the funeral for at least 175 victims of a US-Israeli airstrike on a girls’ school in southern Iran.
• Data shows that half of the petrol stations in Melbourne and Sydney have already increased their prices by at least 5¢, before any international price increases flow through to local bowsers. Treasurer Jim Chalmers said the government had instructed the consumer watchdog to crack down on any price gouging.
• The price of crude oil has continued to surge, reaching $US83 a barrel after rallying about 12 per cent over two days, the biggest gain since 2020. Global stock markets have fallen with investors worried by the war.
• Israel has deployed troops in Lebanon, beginning a ground offensive in a new escalation of its campaign against Hezbollah. Israel has continued to bombard Lebanon and Iran. Iran and Hezbollah have also launched strikes at Israel.
• Four of the six US soldiers killed in a drone strike in have been named by the Pentagon. Nicole Amor, Cody Khork, Noah Tietjens and Declan Coady were inside a US command centre in Kuwait when a drone strike killed them.
• Iranian Kurdish militias have consulted with the United States in recent days about whether to attack Iran’s security forces in the western part of the country.

The funeral ceremony for slain Supreme Leader Ali Khamenei has been postponed, with a new ceremony to be announced later, Iranian state media report.

State TV earlier reported Khamenei’s three-day symbolic funeral would begin Wednesday evening (Iran time).

With AP

War concerns gripped the Australian sharemarket on Wednesday, wiping out more than $50 billion in value. The slump followed a sell-off on Wall Street and other global markets as oil prices continued to rise amid fresh attacks in the Middle East.

The S&P/ASX 200 slid 176.10 points, or 1.9 per cent, to 8901.20, plunging below the 9000 mark in its biggest decline since early February. All 11 industry sectors were in the red, with a 3 per cent fall in mining stocks leading the way down. The losses come after the ASX dropped 1.3 per cent on Tuesday. The Australian dollar was trading at US70.01¢ at 4.57pm AEDT, down 0.5 per cent.

Senior investment adviser at Shaw and Partners Adam Dawes, said geopolitical concerns helped drive the slump, and a key concern for investors was the risk that the conflict in Iran would persist for longer than expected.

The price of oil jumped after the conflict flared up on the weekend, and Brent crude oil rose toward $US83 a barrel on Wednesday after rallying about 12 per cent over two days, the biggest gain since 2020.

It was an ugly session for the nation’s mining heavyweights amid rising concerns about the fallout of the Iran war on global growth. BHP, the world’s biggest miner, slumped 3.5 per cent. Rio Tinto fell 1.3 per cent and Fortescue Metals lost 3 per cent.

Read the full market wrap here.

Iran’s assembly of experts tasked with choosing a new supreme leader are close to making a decision, state television reported, according to the Associated Press.

The New York Times earlier reported that slain leader Ali Khamenei’s son Mojtaba Khamenei was considered the frontrunner for the role.