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Israeli officials staring down all-out regional war tell Axios Israel will launch a "significant retaliation" to Tuesday's massive missile attack within days that could target oil production facilities inside Iran and other strategic sites.

Israel and Iran have never been closer to opening up a new and far more dangerous front in the war that has engulfed the Middle East.

Iran threatened on Tuesday that if Israel responds with force to the nearly 200 missiles it launched on Tuesday, it will attack again.

If that happens, Israeli officials say all options will be on the table — including strikes on Iran's nuclear facilities.

"We have a big question mark about how the Iranians are going to respond to an attack, but we take into consideration the possibility that they would go all in, which will be a whole different ball game," an Israeli official said.

Many Israeli officials point to Iran's oil facilities as a likely target, but some say targeted assassinations and taking out Iran's air defense systems are also possibilities.

The Israeli response could include airstrikes from fighter jets as well as clandestine operations similar to the one that killed Hamas leader Ismail Haniyeh in Tehran two months ago.