【Iran Crisis】Oil prices plummet by 10% Trump: Iran war will end soon, but not this week (updating)

Oil prices once plummeted nearly 10%, with Brent crude futures dropping 9% to a low of $90.3, and NYMEX crude futures falling 8% to a low of $87. As President Trump spoke, according to shipping sources, dozens of oil tankers approached the Strait of Hormuz, seemingly attempting to pass through. Leading the group was a Gambia-flagged oil tanker, which by 8:26 a.m. had arrived near the strait, amid tense circumstances.

According to semi-official Iranian media outlet Fars News Agency, a senior Iranian military official warned, “Until further notice, we will not allow even a single liter of oil to be exported to hostile parties and their allies in the region.”

Citing CNBC, Iran’s Foreign Ministry spokesperson also issued a warning, stating that oil tankers passing through the Strait of Hormuz “must be extremely cautious,” adding, “As long as the situation remains unsafe, I believe all ships and all maritime navigation must stay highly alert.” He said that attacking US military bases and assets in the region is “legitimate” under international law, based on Article 51 of the UN Charter, as self-defense.

🔴 One senior Iranian military official told Al Mayadeen: “Until further notice, we will not allow even a single liter of oil to be exported to hostile parties and their allies in the region.” — Fars News Agency, March 9, 2026

U.S. military transport aircraft appeared this morning.

President Trump stated that the U.S. has deployed a strong military presence and mine-clearing equipment in the Strait of Hormuz, and if necessary, will provide “political risk insurance” and personally escort commercial ships. He emphasized that the U.S. will never allow Iran to cut off global oil supplies.

In a press conference, Trump refused to promise that the war would end “within days or this week,” but said it would “be very quick.” He pointed out that Iran’s military assets—including navy, air force, radar, and leadership—have been almost entirely destroyed, so the operation is progressing faster than expected. He claimed that the military progress is unmatched, and progress that was originally estimated to take a month has been achieved ahead of schedule.

He said the U.S. has dealt a heavy blow to Iran’s military, sinking 51 Iranian naval vessels, completely destroying drone manufacturing facilities, and reducing missile capabilities to below 10%. Over 5,000 targets have been struck, including major strategic objectives, with the highest leadership eliminated two or three times. Iran’s secret underground nuclear facilities have been destroyed to prevent nuclear weapons development.

He stated that Iran’s power grid and core infrastructure remain intact as leverage; any retaliation would lead to catastrophic consequences. He claimed the most dangerous phase of the war ended within three days.

He expressed hope that Iran would nominate a new leader willing to pursue peace. He was disappointed that Iran’s Supreme Leader is the son of Khamenei.

He emphasized that maintaining the Strait’s open passage is mainly to stabilize the global economy, explicitly noting that this action actually helps countries like China that rely on the strait. “I want to keep it open. I want to keep it good. You know, it doesn’t affect us as much as it does China. We’re actually helping China and other countries because they get a lot of energy from the strait. But we have a good relationship with China. I’m honored to do this.”

Summary of the press conference:

“Over the past weekend, the U.S. military and Israeli Defense Forces continued to execute Operation Epic Fury with unprecedented success. Over nine days, they launched the most powerful and complex military strikes and tactical exercises in history. When you add these actions to other achievements—such as Operation Midnight Hammer, which eliminated Iran’s nuclear threat entirely, and successes in Venezuela and elsewhere—you see major victories everywhere.”

“While advancing these operations, we have also made significant progress in achieving military objectives. Some might say these goals are already quite well achieved. We have thoroughly and completely eliminated every armed force within Iran. Most of Iran’s navy has been sunk, lying at the bottom of the sea. I just received reports of 51 ships— I didn’t even know they had so many, but they didn’t last long. These are combat vessels meant for fighting, but they are no match for us.”

“We continue to target Iran’s drone and missile capabilities. Their drone numbers have sharply decreased. Their drone manufacturing plants are under full attack from today. We have seized all their drone production sites and are destroying them one by one. Their missile capability has plummeted to about 10%, possibly lower. We have also precisely struck their missile manufacturing and transportation facilities. So far, we have hit over 5,000 targets, including very strategic ones. We’ve kept some of the most important targets in reserve, in case of need. If we strike those, they would need many years to rebuild, affecting power generation and other critical infrastructure. Therefore, unless absolutely necessary, we do not plan to do so. These targets are easy to hit, but a strike would cause devastating consequences. We are watching what happens before deciding whether to strike. We could destroy all of them in a day.”

“But all these actions have caused about 90% of the total decline across various sectors, especially Iran’s missile launchers. As you know, drone launchers have also decreased by 83%. Drone launchers are almost destroyed, and Iran’s missile launchers have declined by over 90%. These are highly sophisticated, hard-to-replicate devices. Usually, with our advanced equipment and top talent, once they launch a missile from a launcher, we can accurately and swiftly destroy it within five minutes or less.”

“Now, we have low-cost interception systems that effectively counter Iran’s drones. Our B-2 bombers recently dropped dozens of 2,000-pound bombs across Iran to destroy missile launchers, often penetrating underground where the soil cannot withstand such penetrations. We are also destroying Iran’s drone and missile manufacturing bases at an unprecedented speed. We know their locations precisely and are erasing them rapidly. Our progress has far exceeded initial timelines. I dare say we probably never imagined we could make such progress in a month.”

“Additionally, we have eliminated their top leadership two or three times. As you know, we had to intervene. We don’t want a future president (if it’s someone else) to hesitate to do what I decisively did, which could lead us back into the same quagmire in five or ten years. So, we believe they should nominate a new president or leader who can pursue real change peacefully. For 47 years, they have been killing. Forty-seven years! Whether it’s military explosions or the USS Cole attack, they have been deeply involved, despite denial. They are deeply involved in all these tragedies caused by roadside bombs, and in the suffering of those who lost limbs or suffered severe facial injuries. This Iranian regime has been attacking Americans and spreading terrorism worldwide for 47 years.”

“Despite numerous opportunities to abandon nuclear ambitions—just recently, they clung to these ambitions and even told Witkoff that they wanted to continue building nuclear weapons. If we hadn’t launched Midnight Hammer and destroyed their nuclear capabilities, they would have had nuclear weapons long ago and would have used them. At least Israel would be facing annihilation. We are very fortunate to have the courage to act, with talented pilots and excellent equipment. The B-2 bombers are incredible. (By the way, we’ve ordered 25 upgraded, better versions.) We have the greatest military in the world, far ahead of others. Wherever we go, you can see it. But you still need the best personnel to operate and use it, and those are the talents we cherish.”

“Even after we have thoroughly destroyed their key nuclear facilities, they have never genuinely negotiated during Midnight Hammer. They still insist on making nuclear weapons, refusing to enrich uranium to unacceptable levels. They even rejected a generous civilian offer to supply nuclear fuel free of charge indefinitely. We proposed providing free nuclear fuel, but they weren’t interested because they only want to make nuclear weapons.”

“So, the regime is trying to secretly rebuild its weapons program elsewhere. They can’t go back to the three sites we destroyed, so they are working at another location, in a different concealed terrain, protected by hard granite. They want protection, and granite is very strong, but they aim to go deeper underground. They have started this process while rapidly developing conventional ballistic missiles. They plan to advance both efforts simultaneously, which directly threatens our overseas bases and could soon impact the U.S. homeland. Their evil intent is to use this exponential growth of ballistic missile threats to make it nearly impossible for the world to prevent their eventual acquisition of nuclear weapons.”

“Therefore, as you may see, they once possessed an astonishing number of missiles, most of which are now expended or destroyed, and their use has been disastrous because we can intercept and shoot down most of them. The Patriot missiles and other advanced systems perform astonishingly well. Our laser technology is also incredible and will soon be fully operational. We will have laser weapons capable of low-cost, precise strikes with Patriot missiles and other defense systems.”

“The situation is rapidly approaching an irreversible point, which the U.S. considers absolutely unacceptable. Based on intelligence—deep involvement—they were about to attack us. I firmly believe that if we hadn’t preempted, they intended to attack the U.S. If you notice, they did something extremely foolish—they attacked their neighbors. And their neighbors are mostly neutral or at least not involved in the conflict, yet they were attacked without cause. This backfired strongly, and those neighbors immediately turned to us and began to fight back, with great success. Look at Saudi Arabia, the UAE, Qatar, and other countries—they are strong and smart, but they were attacked. When I first heard this, I said no, someone must have misread the intelligence. But it wasn’t a mistake. The UAE was hit with over 1,000 missiles, yet they nearly shot down all of them.”

“On my first day in 2015, I said—I quote my words: ‘I will prevent Iran from acquiring nuclear weapons.’ What I am doing now is just fulfilling that promise. Think about it—back in 2015, I issued warnings. It was a threat, which later became a bigger threat, but now it’s no longer a threat, at least for a long time. We want to keep this peace.”

“As we continue Operation Epic Fury, we are also highly focused on ensuring the smooth flow of global energy and oil. I will never allow a terrorist regime to hold the world hostage and try to cut off global oil supplies. If Iran takes any reckless action, they will face far more severe and destructive strikes than now. I will destroy those vulnerable infrastructure targets I just mentioned. We will do so very quickly. They will never recover. If they want to play this dangerous game, they’d better think twice. In the long run, without Iranian ships, drones, missiles, nuclear threats, or other threats, oil supplies will be much safer. The Strait of Hormuz will remain absolutely secure. We have deployed a large number of powerful naval vessels there, with the world’s most advanced mine-clearing equipment. Again, most of their ships are already at the bottom of the sea.”

“But we will strike them so hard that they or anyone trying to help them will never regain influence in that region, as long as they dare to act recklessly. Over recent years, this regime and its terrorist proxies have indiscriminately attacked hundreds of commercial ships. We are ending this threat completely. The ultimate result will be a significant reduction in oil and natural gas prices for American families. We have already achieved this, bringing prices down very low. This is a necessary military action to address a problem that must be solved. We are very close to fully accomplishing this goal.”

“Meanwhile, during this brief interruption, the U.S. will provide political risk insurance to any oil tanker operating in the Persian Gulf. We have offered solid risk coverage, and perhaps we will escort them personally through the strait. I don’t think it will be necessary, but if needed, we will escort them safely through. We have the world’s most powerful mine-clearing capabilities, the largest invincible fleet, and we know exactly where their minefields are. We will clear them very quickly. But we hope it won’t come to that. Again, if they do this, if they play that sneaky game, we will strike them with unprecedented severity. We are winning this victory decisively. Our progress is far ahead of schedule. Our military is the greatest in the world, equipped with the best gear and top talent—nobody surpasses us.”

“Iran was once a very powerful and threatening country. They planned to take over the Middle East entirely. If we hadn’t preempted them, they would have taken over the Middle East. Since their last strike, they have hoarded thousands of missiles and other deadly weapons. Most of these have now been destroyed. But they intended to dominate the Middle East. These weapons were aimed at innocent Middle Eastern countries unrelated to this conflict. They wanted to take over the Middle East and destroy Israel. We stopped all this madness in time. We are very proud to be part of it, and it will end very soon. If they restart the conflict, they will face even harsher retaliation.”

$1 below is Monday’s news:

Iran: If they can tolerate oil prices above $200, “they will keep playing”
G7 has not reached consensus on releasing oil reserves
Oil prices surged 30%, approaching $120 per barrel

The Strait of Hormuz remains nearly blocked, with Gulf countries planning to cut production. International oil prices soared by up to 30%, approaching $120 per barrel. After reports that the G7 would discuss jointly releasing oil reserves, prices narrowed their gains.

France’s finance minister said that the consensus is to use all necessary tools to stabilize the market if needed, including possibly releasing strategic reserves.

Oil prices’ sharp rise has triggered market turmoil worldwide, with Japan and South Korea’s markets hitting circuit breakers. U.S. stock futures fell over 1,000 points on Monday, with the Dow Jones dropping more than 600 points early in trading, the Nasdaq down 1.2%, and the S&P 500 down 80 points. The U.S. dollar index stood at 99.185.

The blockade of the Strait of Hormuz has caused oil storage facilities to fill rapidly, with Kuwait and the UAE beginning to cut production. Reports indicate that Saudi Aramco’s two oil fields have started reducing output, though the extent is not specified. Some Chinese media suggest that Aramco is merely reallocating export supplies.

Additionally, French President Macron announced at Paphos Air Force Base in Cyprus that France plans to work with European and non-European countries to establish a “purely defensive” mission to escort cargo ships and oil tankers, aiming to gradually reopen the Strait of Hormuz after the most intense phase of conflict.

Iran: If oil prices can sustain above $200, “they will keep playing” — prices may stay in triple digits for a period

Iran’s Hatam Anbia Central Command spokesperson issued a video statement warning the U.S. and Israel to cease “inhuman actions.” The spokesperson told the U.S. and Israel that if they can tolerate oil prices exceeding $200 per barrel, “then keep playing this game.”

Iranian Parliament Speaker Qalibaf said that if the current conflict further expands to infrastructure, its economic impact will last longer regionally and globally. He said that under such circumstances, international oil prices could remain in the triple digits for some time.

The Iranian Islamic Revolutionary Guard Corps issued a statement claiming they have carried out the 31st wave of “Real Commitment 4” strikes, using heavy missiles to attack U.S.-related targets. The IRGC also said that early this morning, they used multiple drones and cruise missiles to strike and “destroy” the U.S. helicopter base in Kuwait’s Udaid, describing the operation as “extremely critical,” including destroying fuel tanks, helicopter pads, and other logistics and support facilities.

Trump posted on Truth Social: “Short-term oil prices will drop rapidly once Iran’s nuclear threat is eliminated. This is a very small price for the security and peace of the U.S. and the world. Only fools would think otherwise.”

Hamadani’s son Mojtaba appointed as Iran’s new Supreme Leader

Iranian state media reported that the Assembly of Experts has selected Mojtaba Khamenei to succeed his father, Ayatollah Ali Khamenei, as the country’s new Supreme Leader.

The IRGC issued a statement welcoming Mojtaba Khamenei’s appointment. The statement described him as “a comprehensive jurist, a young thinker, and highly knowledgeable on political and social issues.” The IRGC also expressed respect, loyalty, and obedience toward him, stating that members are “ready to fully obey and sacrifice themselves in executing the sacred command of the Guardian Jurist.”

$1 below is Monday’s news:

Iran: Will choose new leader within 24 hours; UK plans to send two aircraft carriers; Trump: No need to wait for victory to fight

Trump, speaking on Air Force One, said unconditionally surrender means “they surrender, or when they can no longer fight, and no one around them can surrender either, that might happen because you know we have already eliminated their leadership many times.” Regarding the absence of ships passing through the Strait of Hormuz, Trump said, “That’s their choice. But we’ve cleared it; we’ve sunk their navy. Their navy is now at the bottom of the sea.”

He continued, “We expect oil prices to rise, which is expected. But they will also fall. They will fall very quickly.” Trump indicated that the U.S. will use strategic oil reserves when appropriate.

Regarding ground troops, Trump said they must have very strong reasons. “If we really do that, they will face devastating strikes so severe they cannot fight on the ground.” He also said he does not want the Kurds involved, to avoid making the war more complicated, “I really told them, I don’t want them to go in.”

Trump said, “We have removed one leadership layer, then a second, and now they are at the third or fourth layer, with leaders nobody even knows.”

According to expert member Ayatollah Mozafari of the Iranian Assembly of Experts, Iran plans to hold a meeting within 24 hours to elect a new Supreme Leader. The IRGC spokesman told state TV that Iran is “completely prepared to continue intense, comprehensive war for at least six months at the current pace.”

Additionally, Iran’s president said he has instructed the military not to attack any countries that have not attacked Iran, despite attacks on the UAE, Saudi Arabia, and others.

Dubai Media Office issued a statement saying that, for security reasons, all operations at Dubai International Airport are temporarily halted.

The UAE president issued a rare warning to the country’s “enemies,” cautioning them not to mistake the UAE’s prosperity for weakness. He said during a hospital visit, “The UAE is tough and resilient, not an easy target,” and met with injured civilians from Iran’s attacks.

Several European officials reported that Saudi Arabia has increased direct contacts with Iran, trying to curb Middle East war, which has caused serious turmoil and pressure on global markets.

On the oil production front, Abu Dhabi National Oil Company (ADNOC) said it is “managing” offshore oil output levels to meet storage demands. The company continues to utilize export routes bypassing the Strait of Hormuz and its international storage facilities to ensure supply reaches global customers.

Trump posted on Truth Social: “The UK, our former great ally—perhaps the greatest—is finally seriously considering sending two aircraft carriers to the Middle East. No problem, Prime Minister Sunak, we no longer need them—but we will remember. We don’t need to wait until we’ve won the war to come in!”

Trump also claimed that Iran, which is suffering heavy blows, has apologized to neighboring Middle Eastern countries and surrendered, promising not to fire on them again. This promise was made solely because of relentless U.S. and Israeli attacks. They once dreamed of taking over and ruling the entire Middle East. This is Iran’s first defeat by neighboring Middle Eastern countries in thousands of years. They said, “Thank you, President Trump.” I replied, “You’re welcome!” Iran is no longer “the bully of the Middle East”; instead, they are “the losers of the Middle East,” and will remain so for decades until they surrender or, more likely, collapse entirely. Today, Iran will face a heavy blow! Due to Iran’s malicious actions, some areas and populations that have not yet been targeted are being seriously considered for complete destruction and inevitable death.

$1 below is Saturday’s news:

U.S. provides $20 billion reinsurance for oil tankers, Trump: Weapons production tripled

After announcing that the U.S. will provide insurance guarantees for ships passing through the Strait of Hormuz, the U.S. International Development Finance Corporation (DFC) and CEO Ben Black, along with Treasury Secretary Yellen, announced that the reinsurance mechanism will provide up to approximately $20 billion in loss coverage, covering oil tankers and other maritime traffic, to promote safe passage through the Strait.

Due to the Iran conflict causing a halt in Persian Gulf tanker traffic, U.S. crude prices surged over 13%, breaking $91 per barrel. Some Gulf countries, unable to export oil via the strait, have begun reducing production.

Ben Black stated, “We are confident this reinsurance plan will ensure the smooth flow of oil, gasoline, LNG, aviation fuel, and fertilizers through the Strait of Hormuz, and back into the global market.”

Source: https://www.dfc.gov/media/press-releases/dfc-announces-20b-plan-maritime-reinsurance-gulf

Meanwhile, Qatar is loading liquefied natural gas (LNG).

Trump posted on Truth Social: “Had a very successful meeting with our largest defense manufacturer, discussing capacity and production schedules. They agreed to increase production of the ‘Exquisite Class’ weapons by four times, as we want to reach maximum output as soon as possible.”

“Expansion efforts began three months ago, and many of these weapons’ factories are now under construction and production. We have nearly unlimited supplies of medium and upper-tier munitions, such as those used against Iran and recently in Venezuela. Still, we are increasing orders for these types of weapons.”

“Representatives at the meeting included: BAE Systems, Boeing, Honeywell Aerospace, L3Harris Missile Solutions, Lockheed Martin, Northrop Grumman, and Raytheon. A follow-up meeting is scheduled in two months. All states are currently bidding for these new factories.”

Additionally, Yellen indicated that the U.S. might lift sanctions on Russian oil supplies, “The Treasury has agreed to allow our allies, India, to start purchasing Russian crude oil already at sea, to help alleviate the temporary global oil shortage. We are permitting them to receive this Russian oil. We may also lift sanctions on other Russian oil.”

$1 below is Friday’s news:

US visits White House, meets Trump; US military: B-2 bombers dropped dozens of 2,000-pound penetrating bombs; LOCUS drones indispensable

This is the seventh day of U.S. bombing Iran. Trump met with Major League Soccer champion Inter Miami at the White House, led by the U.S. military. Trump said, “Messi (cheering from the crowd) is… my son asked, Dad, do you know who’s coming today? I said, I don’t know, I have a lot to do. He said, Messi. I said, really? He’s your biggest fan,” “You might say I’m old, but I’ve watched Billy play, he’s with the Cosmos. You might be better than Billy. Billy is pretty good. Who’s better? Him or Billy? (pointing at Messi, crowd laughs) Messi! I agree. But… Billy is also very good.”

Regarding the Iran conflict, Trump said, “I again call on all members of the IRGC, military, and police to lay down their weapons. Accept immunity, and we will give you immunity. Otherwise, you will face guaranteed death. I don’t want to see that.”

“He also urged Iranian diplomats worldwide to seek asylum and help us shape a new, better Iran. It’s a country with great potential, alongside us.”

“Iran’s missiles are targeting these countries: Qatar, Saudi Arabia, the UAE, and many others. Those who are not directly involved are being targeted. They have been aiming at these targets long before the conflict started. They are targeting the entire Middle East. Then we came. We destroyed their party.”

The expansion of the Middle East conflict and supply disruptions have raised global supply concerns. U.S. benchmark crude (WTI) rose above $80 per barrel for the first time in over a year. U.S. Secretary of the Interior, Bernhardt, said the Biden administration is considering options to address soaring oil and gasoline prices during the Iran war, “All options are under consideration.” So far, the U.S. has not taken measures to deploy strategic petroleum reserves.

U.S. Secretary of Defense, Austin, said, “We are not short of ammunition. Our stockpiles of defensive and offensive weapons enable us to sustain this campaign as needed. Ammunition supplies will only increase as our advantage grows.” He added, “The combat power we can project over Iran, combined with Israel’s capabilities, is currently several times greater.”

Joint Commander Admiral Cooper of Operation Epic Fury said over 50,000 troops are involved. In the past hour, B-2 bombers dropped dozens of 2,000-pound penetrating bombs targeting buried ballistic missile launchers. They also struck an Iranian space command-like agency, weakening Iran’s ability to threaten Americans.

He noted that compared to the first day, Iran’s ballistic missile attacks have decreased by 90%, drone attacks by 83%. About 30 ships have been sunk or destroyed. In recent hours, a drone carrier roughly the size of a WWII aircraft carrier was hit and is now on fire. The next phase involves systematically dismantling Iran’s future missile production capacity.

In response to questions, he said they are adjusting Ukraine deployments to counter Iran’s drones.

He also said reports of Iran’s F-15 being shot down are false; Iran claims 500 Americans have been killed, which is a lie.

Using $10,000 worth of weapons, they shot down $10,000 worth of drones.

Regarding LOCUS drones, he said new capabilities have been deployed for interceptors. Over time, the cost curve for drones has been somewhat reversed. A few years ago, it was common to hear that a $2 million missile shot down a $50,000 drone. Now, a lot of time has been spent using $10,000 weapons to shoot down $100,000 drones.

But LOCUS drones are indispensable. They are originally designed by Iran. The U.S. captured one, disassembled its parts, sent it back to America, labeled it “Made in the USA,” and is now using them against Iran.

$1 below is Thursday’s news:

White House: Complete control of Iran’s airspace in the next few hours; Spain agrees to cooperate with U.S. military

On the sixth day of U.S. bombing Iran, White House Press Secretary Psaki said that so far, over 20 Iranian vessels have been destroyed, including the first use of torpedoes since World War II last night, and Iran’s top submarine has been destroyed. Currently, no Iranian ships are sailing in the Arabian Gulf, Strait of Hormuz, or Oman Gulf.

Psaki stated that the U.S. has targeted over 2,000 objectives, destroying hundreds of ballistic missiles, launchers, and drones. In the next few hours, they expect to fully and thoroughly control Iran’s airspace.

When asked who is giving orders in Iran, Psaki said intelligence agencies are closely monitoring and paying attention to this.

Spain, which initially refused to allow U.S. bases, agreed to cooperate after pressure from Trump to cut trade ties.

Regarding the Strait of Hormuz, Psaki said the U.S. Navy will begin escorting ships through the strait at the “appropriate” time.

On increasing ammunition stocks, Psaki said she has not heard the president considering this.

$1 below is March 4th’s news:

Ayatollah Mojtaba, son of Khamenei, reportedly elected as new Supreme Leader; IRGC: Blockade of the Strait of Hormuz

Senior cleric responsible for electing Iran’s next Supreme Leader convened a meeting on Tuesday (March 3), with reports citing sources that Mojtaba Khamenei, son of the late leader Ayatollah Ali Khamenei, is likely to be elected as the new Supreme Leader. Mojtaba, 56, is the second son of Khamenei and currently heads the Basij militia.

As the Iran war enters its fifth day, it has become a contest for control of the Strait of Hormuz between the U.S. and Iran. Trump posted on Truth Social: “Effective immediately, I have ordered the U.S. International Development Finance Corporation (DFC) to provide very reasonable prices for financial security of all maritime trade (especially energy) passing through the Gulf region, offering political risk insurance and guarantees. This service will be available to all shipping companies.”

“If necessary, the U.S. Navy will begin escorting oil tankers through the Strait of Hormuz as soon as possible. In any case, the U.S. will ensure the free flow of energy to the world. America’s economic and military strength is the strongest on Earth—more actions are coming.”

The IRGC issued a statement: “The IRGC Navy has sent messages to the global shipping network, clearly stating that the Strait of Hormuz is now in a state of war from start to finish, and ships may face any damage risks from missiles or uncontrolled drones; therefore, ships should not pass through the area.”

“Given the multiple warnings issued by the IRGC Navy that the Strait of Hormuz is unsafe, more than 10 ships have been hit by projectiles and caught fire after ignoring these warnings.”

“As is evident, Iran has always pursued a policy of de-escalation, striving to create safety and stability in the Persian Gulf, region, and globally. However, Trump and Netanyahu’s foolish actions have triggered this war, causing regional turmoil and disrupting the global economic order.”

“Currently, the entire Strait of Hormuz is under the control of the Islamic Republic Navy.”

“It is worth noting that this important and strategic action by Iran has caused a sharp rise in global oil prices, impacting economies worldwide—especially the U.S. and EU countries. Energy experts warn that if this situation continues for three weeks, the global economy will face a severe crisis.”

$1 below is Tuesday’s news:

Trump: Four main objectives in striking Iran; U.S. Defense: Tens of thousands of shells fired in two days, including from U.S. launched penetrating bombs

U.S. President Trump and the Department of Defense held two press conferences in one evening. Trump said that after the recent destruction of Iran’s nuclear program through Operation Midnight Hammer, he warned Iran not to attempt rebuilding at different locations, but they ignored those warnings and refused to stop pursuing nuclear weapons. Moreover, Iran’s conventional missile program is rapidly developing, posing a clear and significant threat to the U.S. and overseas troops. Iran already has missiles capable of striking Europe.

Trump’s goals are clear: first, destroy Iran’s missile capability, which is happening every hour, and their ability to produce new missiles, which are quite good.

Second, eliminate their navy—10 ships have already been sunk.

Third, ensure that the world’s leading state sponsor of terrorism can never obtain nuclear weapons.

Finally, prevent the regime from arming, funding, and commanding its terrorist forces abroad.

Regarding the duration of the conflict, Trump said, “It has far exceeded our initial expectations, but it doesn’t matter how long it takes. Whatever is needed, we will do it.” “From the start, we expected to end their military leadership within four to five weeks, but it was completed in about an hour. So, we are far ahead of schedule.”

“Some say today that ‘the president wants to finish quickly, and it’s too long and boring,’ but I’m not bored. There’s nothing boring about this. If I were bored, I wouldn’t be standing here now, I guarantee you, after experiencing everything I have to go through.”

The Department of Defense: Action led by Admiral Cooper

Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs of Staff General Cain attended the press conference.

Cain said that on Saturday, February 28, at 01:15 EST (09:45 Tehran time), under the order of the U.S. president, the U.S. Central Command, commanded by Admiral Brad Cooper, began executing “Operation Epic Fury.”

“U.S. Army, Navy, Marine Corps, Air Force, Space Force, Coast Guard, and reserve units, integrated across combatant commands, are conducting unprecedented coordinated operations with Israeli armed forces.”

Thousands of personnel, hundreds of advanced fourth- and fifth-generation fighters, dozens of aerial refueling aircraft, the USS Gerald R. Ford and USS John F. Kennedy carrier strike groups and their air wings, ongoing ammunition and fuel supplies—all supported by command, control, intelligence, surveillance, and reconnaissance networks, with troop movements still continuing today."

“The Ford strike group has redeployed across the Atlantic to establish the theater, integrating reserve and National Guard units, including the Wisconsin Army National Guard in Kuwait and Iraq, and Air National Guard units from Vermont and Virginia. The Vermont ANG’s 158th Fighter Squadron, originally mobilized for ‘Absolute Resolve,’ was assigned to support this operation with F-35 fighters, crossing the Atlantic instead of returning home. Similarly, Air National Guard and Air Force Reserve refueling and transport units are deployed directly from civilian roles to protect the region.”

“As regional tensions escalate, joint forces have increased protective measures under the secretary’s orders, carefully redeploying civilians and non-essential personnel to ensure the safety and security of joint forces. At the start of the operation, only essential forces remain at our bases and in the theater, ready to respond.”

Trump approved the operation last Friday

“The moment the operation began, on Friday, February 27, at 15:38 EST, the U.S. Central Command received the final approval order from President Trump. The president said, ‘Operation Epic Fury is authorized. Go, and good luck.’”

“The first wave was launched by Cyber Command and Space Command, providing non-kinetic effects to disrupt, degrade, and block Iran’s communications and response capabilities.”

First 24 hours, over 1,000 targets struck

“The war officially began at 01:15 EST, dawn in Tehran. Over 100 aircraft (fighters, refuelers, early warning, electronic warfare, bombers, and drones) launched synchronized waves. This was a daylight assault triggered by Israel’s defense, facilitated by U.S. intelligence. The Navy launched ‘Tomahawk’ cruise missiles against Iran’s naval forces; ground forces launched precise ground attack weapons. In the first 24 hours, over 1,000 targets were struck. The operation has now been ongoing for about 57 hours.”

“The current focus is systematically targeting Iran’s command and control infrastructure, navy, and ballistic missile bases. We have established ‘local air superiority,’ which not only enhances our forces’ protection but also allows subsequent operations to proceed.”

Tens of thousands of shells fired over two days, including from U.S. launched penetrating bombs

“In the past two days, we have launched tens of thousands of shells. This includes B-2 bombers originating from the U.S. mainland, flying 37 hours round-trip, dropping precise penetrating bombs into underground facilities deep in southern Iran. Israel has also conducted hundreds of missions independently.”

“Defense is equally important. Our integrated air defense systems performed flawlessly. Patriots, THAAD, and naval destroyers with anti-ballistic missile capabilities intercepted hundreds of missiles targeting our forces and allies.”

“Threats from suicide drones (One-way attack UAVs) still exist, but our systems are highly effective. The air defense units of Qatar, the UAE, Kuwait, Jordan, and Saudi Arabia have also joined the fight, demonstrating years of cooperation.”

$1 below is Monday’s news:

Iran: No negotiations with the U.S.; Israel launches new airstrikes, conflict extends to Lebanon

Israel’s Defense Forces announced early March 2 that their air force launched a new large-scale strike on Tehran’s core areas, and began targeting Hezbollah positions in Lebanon in response to rocket fire from Hezbollah. Iran responded by continuing attacks on U.S. military bases across the Middle East, with explosions reported in the UAE, Bahrain’s Manama, and Doha.

Iran’s Supreme National Security Council Secretary Larijani said Iran will not negotiate with the U.S. He also said the death of Iran’s top leader, Khamenei, is a heavy blow, and that Israel cannot just attack Iran and walk away. Iran’s heart has been pierced, and Iran will pierce the enemy’s heart. Larijani also said Israel is a small country with limited population and resources, surrounded by hostile Islamic countries, and that Israel hopes to divide Iran. But the Iranian people have united and will never allow the country to be divided.

Iran’s state broadcaster quoted a statement from the IRGC claiming that Iran’s air force launched missile strikes on Al Ruweis in the UAE, destroying Israel’s deployed ‘Iron Dome’ missile defense system there.

Iraqi Shia militia claimed to have launched drone attacks on U.S. targets at Baghdad Airport.

As the conflict extends to Lebanon, multiple Middle Eastern media report that senior Hezbollah leader Muhammad Raad was killed in the Israeli attack.

Trump: Khamenei and three Americans dead; fighting continues until goals are achieved

Trump posted a 6-minute video early Monday (March 2, Hong Kong time), stating that hundreds of targets inside Iran have been struck, nine ships and naval facilities destroyed, Khamenei is dead, three Americans have been killed, and that “the fighting continues vigorously and will continue until all our objectives are met.” Trump told The Daily Mail that the war could last four weeks.

NBC quoted U.S. officials saying the goal is to destroy Iran’s ballistic missile and nuclear programs, while Israel targets Iran’s political and military leaders. Iran retaliated with missile attacks on U.S. bases in Israel, the UAE, Qatar, Kuwait, Bahrain, and Jordan, triggering a chain reaction in the Middle East.

Bloomberg analysts estimate that if Iran blocks the Strait of Hormuz, Brent crude could surge to $108, as about one-fifth of global oil shipments pass through this route. Last Friday, Brent closed at $72.48, implying a potential increase of 49%.

President Donald J. Trump provides an update on Operation Epic Fury: pic.twitter.com/Vte8QkPISn — The White House (@WhiteHouse) March 1, 2026

Below is the full transcript of Trump’s video:

“In the past 36 hours, the U.S. and its allies launched Operation Epic Fury, one of the largest, most complex, and most overwhelming military offensives ever seen in the world. No one has seen anything like this.”

Part 1: Achievements

"We have struck hundreds of targets inside Iran, including Revolutionary Guard facilities and air defense systems