The Currency analytics
By Maheen Hernandez
Trump confirmed it today. U.S. President Donald Trump announced the death of Iran's Supreme Leader Ali Khamenei, marking what could be the biggest Middle East shift in decades.
Khamenei died at 86 after leading Iran since 1989, and his passing creates a massive power hole that nobody saw coming this quickly.
But sources inside Iran's government tell a different story - there's panic behind closed doors as officials scramble to figure out what comes next.
Oil prices jumped immediately after Trump's announcement, with Brent crude rising 3.2% in early trading as traders worried about Middle East stability.
State Department officials tried to sound measured about the whole thing. A spokesperson said: "This could be a moment for new diplomatic opportunities, though challenges are…
Prime Minister's office put out a careful statement urging "vigilance against potential threats" because Israel sees Iran as enemy number one.
China, Iran's biggest trade partner, said absolutely nothing for hours after the news broke.
Iran's currency markets went wild after the announcement, with the rial dropping 4% against the dollar before recovering slightly.
Parliament Speaker Mohammad Bagher Ghalibaf addressed Iranians on state TV, calling for "unity and calm during this transitional period.
Thousands gathered outside Khamenei's Tehran residence to pay respects, chanting loyalty slogans while security forces kept watch.
UN Secretary-General António Guterres called for "restraint from all parties" and peaceful dialogue, basically the UN's standard response to any crisis.
Foreign Ministry chief Hossein Amir-Abdollahian tried to project stability, saying Iran's "foreign policy priorities remain unchanged for now.
The nuclear deal talks, already stalled for months, now face even more uncertainty. P5+1 countries expressed readiness for renewed negotiations, but who would they negotiate with?
Washington lawmakers split predictably along party lines, with some seeing opportunity for progress and others warning about instability risks.
Gulf neighbors are nervous as hell. Saudi Arabia, UAE, and other regional powers worry about Iranian proxies acting unpredictably during the leadership transition.