Iran Watch

Oil prices rose back above $100 and stocks sank Thursday as Iran’s attempts to hit supplies in the Middle East and bring down the global economy overshadowed a record release of strategic crude reserves by the International Energy Agency.

Stock markets in Asia closed down Thursday and European markets opened with losses as investors saw few signs the U.S.-Israeli war with Iran would end soon, despite President Trump’s repeated assurances that it would.

U.S. Energy Secretary Christopher Wright announced on Wednesday that the U.S. would release 172 million barrels of oil from its Strategic Petroleum Reserve, while the International Energy Agency — which has 32 member nations, including the U.S. — announced it would release 400 million barrels from its own reserves.

President Trump addressed reports of Iran potentially launching drone strikes on California.

As WLT Report previously covered, the FBI sent out warnings to dozens of police departments in California, warning that Iran may attempt to attack the West Coast with drones.

In the bulletin, the FBI warned police departments in California to be vigilant of a potential retaliation attack from Iran in the form of military drones.

An emergency meeting has been called amid fears over a severe global oil shortage, with petrol prices already surging in the UK. Over 30 members will “assess the current security of supply and market conditions to inform a subsequent decision on whether to make emergency stocks […] available to the market,” IEA Executive Director Fatih Birol said in a statement.

Oil prices dropped by more than 11% as markets began anticipating a release of emergency oil reserves, a sharp reversal after prices had surged to nearly $120 per barrel on Monday following the supply disruption. Fatih Birol noted that energy ministers from the Group of Seven nations met earlier on Tuesday to discuss possible responses to the crisis.

By 550 B.C., Cyrus the Great had built the largest empire the ancient world had ever seen — stretching from Eastern Europe to Asia. Isaiah records that the Lord anointed Cyrus, King of Persia, to release the Jewish people from Babylonian captivity and to fund the rebuilding of the Temple. That is the Persia the modern world has completely forgotten.

The ancient Persians were Zoroastrians, not Muslims. Islam did not arrive until Arab armies conquered the land in the 7th century A.D. The Persians absorbed Islam, but they were never fully Arabic in their customs or culture. They kept their language, their literature, their distinct identity — and they eventually embraced Shia Islam over the Sunni tradition, a distinction that would define centuries of conflict to come.

The U.S. military released striking new footage Tuesday showing American forces systematically destroying major elements of Iran’s naval fleet, offering the public a rare look at the scale of the campaign unfolding across the Persian Gulf and nearby waters. U.S. Central Command (CENTCOM) published the video alongside a statement declaring that the strikes are aimed at dismantling Tehran’s ability to threaten international shipping lanes and destabilize the region.

“U.S. forces are degrading the Iranian regime’s ability to project power at sea and harass international shipping,” CENTCOM said. “For years, Iranian forces have threatened freedom of navigation in waters essential to American, regional and global security and prosperity.”

DUBAI: Drones fell near Dubai airport, injuring four people, while ships were hit in or near the Strait of Hormuz on Wednesday (Mar 11) as Iran kept up its campaign disrupting oil markets and air and maritime traffic.

The oil-rich Gulf has borne the brunt of Iran’s attacks in response to US-Israeli strikes that sparked the Middle East war, with Tehran targeting US assets but also civilian infrastructure.

Iran has also targeted Gulf energy infrastructure and choked shipping in the Strait of Hormuz, which normally carries nearly 20 per cent of global oil production, prompting wild swings in prices.

Iran’s attacks on oil infrastructure and pledges to choke off a vital waterway left markets on edge Tuesday as the United States promised blistering new strikes. The war entered its 11th day with no end in sight as its effects rippled across the Middle East and beyond.

For the first time since the war began, the Pentagon released details on the number of American troops who have been injured, saying eight of the roughly 140 service members wounded are in serious condition.

Both sides sharpened their rhetoric as they dug in, with U.S. Defense Secretary Pete Hegseth again promising the most intense strikes yet, while Iran’s leaders ruled out talks and threatened U.S. President Donald Trump.