Israel and Iran have begun a new round of attacks, as the conflict between the two heavily armed rivals enters its fourth day.

Iranian news media and residents of Tehran say the damage from the latest Israeli strikes appears to be significant, with several apartment buildings badly damaged. Residents say they are hearing ambulance sirens and fire trucks racing to the scenes and rescue workers are working to find casualties in the rubble.

Israel struck Iran’s state-run television station during a live broadcast, forcing a reporter to run off camera following an explosion, after Iran fired a new wave of missiles at Israel that killed at

Investors have been weighing the odds of further escalation in the conflict and spillover into the broader oil-rich Middle East.

Iran will pay a "very high price" for its deliberate attacks on Israeli civilians, Prime Minister Benjamin Netanyahu said on Sunday while visiting the scene of an Iranian missile strike that claimed at least six lives.