Trump declares the US-Iran war "won" but will not withdraw quickly, causing oil prices to fluctuate sharply near $100

March 12 News: U.S. President Trump recently stated that the United States has achieved victory in the military conflict with Iran, but the U.S. military will continue operations to “complete the mission.” This statement indicates that, despite Washington claiming the battle is over, related military actions may continue in the short term, and tensions in the Middle East remain high.

Trump said that within hours of the operation’s start, U.S. forces destroyed most of Iran’s naval and air force capabilities and struck its radar networks and air defense systems. He stated, “The fighting basically ended within the first hour,” and emphasized that U.S. forces gained overwhelming advantage in this military action. Previously, U.S. Defense Secretary Pete Hegseth also warned that the U.S. would impose stronger strikes on Iran.

However, Trump also said the U.S. will not withdraw quickly from the region. He pointed out that U.S. troops must remain until military objectives are fully achieved to avoid cyclical conflicts. “We don’t want to keep coming back here every few years,” he said.

Following the U.S. airstrikes, Iran quickly took retaliatory measures. Reports indicate that Iran launched attacks on Israel and parts of the Middle East, and attacked two oil tankers near Iraqi waters. Local sources reported that the attack caused fires on the tankers and resulted in one crew member’s death. Analysts believe these actions may be Iran’s direct response to U.S. interference in oil supplies.

Meanwhile, global energy markets have become more volatile. The International Energy Agency (IEA) agreed to release about $400 million worth of crude oil from strategic reserves to ease supply tensions and stabilize prices. Trump stated that this move helps lower oil prices and reduces threats to global energy security.

Market analyst Tony Sycamore pointed out that Iran’s attacks may be a strong response to the strategic reserve release plan, indicating ongoing energy and military power struggles between the two sides.

Due to the conflict, international crude oil prices have experienced sharp fluctuations. Earlier this week, prices approached $120 per barrel but then fell back to around $90. However, as tensions rose again, prices increased. The latest data shows crude oil is currently around $94 per barrel, with a nearly 8% single-day increase. The Iranian military also warned that if regional security further deteriorates, oil prices could surge to $200 per barrel.