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Israeli Defence Minister Israel Katz said Wednesday that Iran’s Intelligence Minister Esmail Khatib has been killed in overnight strikes in Tehran, marking the third assassination of a high-ranking official in just two days.

“The intensity of the attacks in Iran is increasing. We are in the midst of the decisive victory,” Katz said in a statement, according to The Associated Press.

The risk of an attack by the Iranian regime in Sweden has increased as a “desperate” Iran could become more dangerous under US and Israeli military pressure, the Nordic state’s security service said.

Sweden, with one of the largest populations of expatriate Iranians in Europe, has been a particular target of Tehran over recent years after a series of Koran burnings and the arrest and trial of the Iranian prosecutor Hamid Nouri in Stockholm. The Swedish security service, known as Sapo, has previously said Iran has recruited criminals in Sweden to carry out attacks.

Iran said US and Israeli airstrikes hit its giant South Pars natural gas field and associated infrastructure, state TV reported. Oil and petrochemical facilities in nearby Asaluyeh also came under attack, it added.

An attack, if confirmed, would mark the first time Iran’s upstream oil and gas facilities have been targeted in this war. The field is shared with Qatar.

Gold declined to its lowest in a month, as investors weighed the Federal Reserve’s path for interest-rate cuts against inflationary risks from the war in the Middle East.

Bullion — which traded in a narrow range in recent days — slipped below $5,000 an ounce. While the Fed is expected to keep rates unchanged at its policy meeting later Wednesday, investors will scrutinise the US central bank’s views on rising energy prices and a softer labour market. Oil hovered above $100 a barrel, reversing earlier losses.

Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.

Germany’s DAX rose 0.7% to 23,899.71, and the CAC 40 in Paris picked up 0.9% to 8,045.19. Britain’s FTSE 100 edged 0.2% higher to 10,427.12.

During Asian trading, Tokyo’s Nikkei 225 gained 2.9% to 55,239.40 after the government reported exports were higher than expected in February. In South Korea, the Kospi jumped 5% to 5,925.03. Lower oil prices are a boon for big oil importers like Japan and South Korea.

Hong Kong’s Hang Seng reversed early losses, surging 0.6% to 26,025.42, while the Shanghai Composite index also rebounded, gaining 0.3% to 4,062.98.

Australia’s S&P/ASX 200 climbed 0.3% to 8,640.60. Taiwan’s Taiex added 1.5%.

Stocks rose across the world as sharp swings in oil markets subsided while traders awaited Wednesday’s (March 18) Federal Reserve meeting.

Futures for the S&P 500 climbed 0.4% after the benchmark posted its first back-to-back advance since the start of the Iranian war. Brent crude rose modestly toward $104 a barrel, with its trading range the narrowest this month. Global bonds extended gains as traders dialled back expectations of tighter central bank policy. The dollar was flat.

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