New Iranian leader reportedly wounded in airstrike

That’s all for tonight. Thank you for reading. We will be back very shortly after midnight with our new Need to Know blog.

Here’s what we know so far:

• Iran has struck Bahrain’s only oil refinery, leading the state-owned company to declare a force majeure. That’s when a party is excused from liability because it is unable to fulfil its obligations due to unforeseen circumstances, like war.
• Mojtaba Khamenei, the son of the deceased Ayatollah Ali Khamenei, has been named as Iran’s new supreme leader and was reportedly injured in an airstrike on the weekend.
• Iran has threatened to seize the property of Iranians abroad who support the war.
• The S&P/ASX 200 slumped 2.9 per cent on Monday in what was the index’s worst session since US President Donald Trump’s “liberation day” tariff announcement.
• The Israel Defence Forces launched fresh attacks on Iran’s terrorist headquarters.