Oil prices climbed more than 2% on Wednesday on rising concerns that Middle East tensions could escalate, potentially disrupting crude output from the region, following Iran's biggest ever military blow against Israel.

Brent futures leapt $1.63, or 2.2%, to $75.19 a barrel, while U.S. West Texas Intermediate (WTI) crude spiked $1.70, or 2.4%, to $71.53 at 0755 GMT. WTI had earlier risen more than $2.

Both crude benchmarks on Tuesday surged more than 5% before closing around 2.5% higher. Iran said early on Wednesday that its missile attack on Israel was over barring further provocation, while Israel and the U.S. promised to strike back against Tehran as fears of a wider war intensified.

"This could include damaging or obliterating Iran's oil facilities," said Tamas Varga of oil broker PVM. Tehran said any Israeli response to the attack, which Israel said involved more than 180 ballistic missiles, would be met with "vast destruction".

Varga noted Iran's or its allies' retaliation could strike Saudi oil facilities like in 2019 or see the closure of the Strait of Hormuz. "Any of these events would irretrievably send oil prices considerably higher," he said.

In another escalation of the conflict, the Israeli military on Wednesday sent regular infantry and armoured units to join ground operations in southern Lebanon against Iran-backed Hezbollah.

India’s Minister of External Affairs, Dr. Subrahmanyam Jaishankar, arrived in Sri Lanka this morning for an official visit.

President Anura Kumara Dissanayake will likely undertake his first official overseas visit to New Delhi for discussions with Prime Minister Narendra Modi after he accepts an invitation which will be extended today by visiting Indian External Affairs Minister, Dr. S. Jaishankar, the Daily Mirror learns.

The international community should support Sri Lanka in building a peaceful, multi ethnic, green and prosperous Sri Lanka, Norwegian diplomat and former politician Erik Solheim said.

Former Minister of Transport and Mass Media Dr. Bandula Gunawardene has decided not to contest at the upcoming General elections.

A spokesman for former President Ranil Wickremesinghe today refuted claims made by Cabinet Spokesman Vijitha Herath, stating that Wickremesinghe never sought Presidential immunity in connection with the controversial bond scam legal proceedings.

A special meeting was held at the Police Headquarters to review the progress of several high-profile investigations concerning crimes, fraud and other controversial cases in Sri Lanka.

The Minister of External Affairs of India, Dr. Subrahmanyam Jaishankar will undertake an official visit to Sri Lanka tomorrow. During this visit, Jaishankar is scheduled to pay courtesy calls on President Anura Kumara Dissanayake and Prime Minister Dr. Harini Amarasuriya.

Fr. Cyril Gamini Fernando, Director of Communications for the Archdiocese of Colombo, said that the Presidential Commission report, which investigated the allegations made by the UK’s Channel 4 regarding the 2019 Easter Sunday attack, has gone missing.

Former MP and Ilankai Tamil Arasu Katchi (ITAK) spokesperson, M.A. Sumanthiran, last evening called on the government to immediately disclose the names of former parliamentarians and politicians who were involved in securing and distributing liquor licenses during the previous administration.

The Human Rights Watch stated that the United Nations Human Rights Council (UNHRC) should adopt a resolution to enable continued UN monitoring, reporting, and collecting evidence of rights violations for future prosecutions in Sri Lanka.

Former Navy Commander Admiral Sirimevan Sarathchandra Ranasinghe took office today as the new Chairman of the Sri Lanka Ports Authority. He enlisted in the Sri Lanka Navy as an Officer Cadet in its 11th Intake on 15 November 1982. Ranasinghe was appointed Commander of the Navy on 26 October 2017 and retired on 1 January 2019.

The Election Commission has announced that it is geared to conduct the much-delayed 2023 Local Government Elections shortly after the upcoming General Elections.

A total of 37 independent groups have placed cash deposits for the upcoming general election scheduled for November 14, 2024, the Election Commission stated.

Sri Lanka’s Ambassador to Israel, Nimal Bandara confirmed that no injuries or casualties among Sri Lankan nationals were reported following last night’s attack on Israel, allegedly carried out by Iranian forces.

The selling rate of the US dollar has fallen below Rs. 300 for the first time since June 8, 2023. According to the Central Bank of Sri Lanka, the selling rate of a US dollar was recorded at Rs. 299.35 while the current buying rate stands at Rs. 290.30.

Former MP Namal Rajapaksa has challenged President Anura Kumara Dissanayake to prove his allegations that the Rajapaksa regime has hidden billions of dollars in Uganda and other countries.

India’s external Affairs Minister S Jaishankar will be visiting Sri Lanka this week and call on newly elected President Anura Kumara Dissanayake, who assumed office on September 23, Indian media reported today (2).

The government has taken steps to recall Ambassadors and High Commissioners who were appointed on political allegiances. Addressing the media at the weekly meeting to announce Cabinet decisions, Minister Vijitha Herath said a report is being prepared on the matter.

Preliminary investigations into the Easter Sunday bomb attacks and the Central Bank bond scam have been initiated, Cabinet Spokesman and Minister Vijitha Herath said. He said these preliminary investigations have been launched by the Public Security Ministry.

Nawa Sri Lanka Nidahas Pakshaya leader Kumara Welgama’s death was caused by the injuries he sustained during the commotion on May 9, 2022, a former MP said.