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

Futures tied to Canada's main stock index fell on Tuesday as the Iran-Israel conflict entered its fifth day, with investors fleeing to safe-haven assets on fears that the tensions could spiral into broader regional unrest.

Israel and Iran launched a new round of attacks as the conflict between the two heavily armed rivals enters its fifth day.

US President Donald Trump is in Kananaskis, Alberta in western Canada for the G7 summit where he will shortly meet with Canadian Prime Minister Mark Carney. Trump's one-on-one meeting with Carney comes amid tensions between Washington and Ottawa over trade and security

The U.S. military has moved a large number of refueling aircraft to Europe to provide options to President Donald Trump as Middle East tensions erupt into conflict between Iran and Israel, two U.S. officials told Reuters on Monday,

Escalating tensions between Israel and Iran will likely lead to increases in gas prices in Florida and across the nation. Florida gas prices are the lowest in a month, according to AAA - The Auto Club, but face upward pressure heading into this week.

Iranian missiles damaged the US embassy in Tel Aviv, escalating tensions. Israel retaliated with strikes on Iran's energy sector, while both sides continued attacks.

Global energy executives gathered in the Malaysian capital on Monday for an industry conference with an eye on the dramatic escalation in the conflict between Israel and Iran, which has fuelled worries that it could widen and disrupt supply.