Iran and Israel continued to exchange attacks into Monday amid the latest round of conflict between the two nations.

Blasts have been heard in Tehran and sirens have sounded in Israel as US president convenes National Security Council.

Major stock markets in the Gulf were subdued in early trade on Tuesday with investors cautious as fighting between Iran and Israel entered its fifth day, sparking fears of potential regional instability.

Blasts rang out across a swath of the Middle Eastern republic’s territory, targeting its nuclear capabilities, military leadership and scientists.

Roughly 80 pieces of missiles have fallen on Palestinian communities since the start of the Israel-Iran confrontation on Friday, according to the Palestinian authorities.

Oil prices rose again Tuesday morning in Asia, as markets weighed the odds of a resolution in the Israel-Iran conflict. Crude prices bounced as news of fresh attacks rolled in, including another wave of Iranian missiles launched at Israel and more Israeli strikes on Iran.

Israel-Iranian missile exchanges prompt Trump to call for immediate negotiations "before it's too late," revealing divisions among Republicans and Democrats on Middle East policy

At least eight people died overnight following Iranian missile strikes on Israel. Israel's defense minister accused Iran of targeting civilians and Iranian officials have also accused Israel of striking civilians.