Iran's situation has escalated once again. On March 14 local time, a spokesperson for the Khatam al-Anbia Central Headquarters of the Iranian Armed Forces warned that if Iran's oil, economic, and energy infrastructure are attacked, all related U.S. facilities in these sectors will be destroyed. Earlier, U.S. President Donald Trump stated that U.S. forces had heavily bombed Khark Island, Iran's key oil export hub, "completely destroying all military targets on the island." A retired U.S. military officer commented that the U.S. attack on Khark Island has heightened the risk of war, which could ultimately lead to "uncontrolled" oil prices. The cryptocurrency market has already sensed the risk. From late on the 13th to the early hours of the 14th, Bitcoin, Ethereum, Solana, and others experienced sharp declines, turning negative. Bitcoin fell from $73,800 to around $70,000, while Ethereum dropped from $2,200 to below $2,100. At the time of writing, Bitcoin was down 0.55% at $70,800, Ethereum declined 0.67% to $2,091, Solana fell over 1%, Cardano dropped more than 2%, and Hyperliquid decreased by 3.5%. Prior to this downturn, Bitcoin had surged over 5% within 24 hours, and Ethereum had risen more than 6%. According to CoinGlass data, over the past 24 hours, 102,000 traders globally were liquidated, with total liquidations amounting to $373 million. In just the last 12 hours, long positions accounted for $135 million in liquidations.
Iran's Latest Warning A spokesperson for the Khatam al-Anbia Central Headquarters of the Iranian Armed Forces warned on the 14th: "In response to the U.S.'s aggressive and terrorist rhetoric, we declare that if Iran's oil, economic, and energy infrastructure are attacked, as we have previously warned, all oil, economic, and energy facilities in the region associated with U.S. cooperation or ownership will be immediately destroyed." On the 13th, a retired U.S. military officer stated in a media interview that the U.S. attack on Khark Island has increased the risk of war and could ultimately lead to "uncontrolled" oil prices. Former U.S. Army Brigadier General Mark Kimmitt said, "This means we have significantly raised the stakes of this war. The conflict is no longer limited to 'destroying military capabilities and overthrowing the regime' but has potentially evolved into an attempt to cut off the country's economic lifeline." Kimmitt noted that the U.S. is using the island as a "hostage" to ensure Iran allows free passage through the Strait of Hormuz. A blockade of the strait alone could cause crude oil prices to surge. Kimmitt warned that if these oil infrastructures are targeted, Iran "will retaliate by attacking other facilities in the Middle East," leading to completely uncontrolled oil prices. Khark Island is a critical hub for Iran's oil exports. Iranian Parliament Speaker Mohammad Bagher Ghalibaf previously stated that if the U.S. and Israel attack any of Iran's islands in the Persian Gulf, Iran will "abandon all restraint." On the evening of the 13th Eastern Time, Trump stated that U.S. forces had heavily bombed Khark Island, "completely destroying all military targets on the island." Trump claimed he chose not to destroy the island's oil infrastructure but threatened that if Iran or any other country interferes with the safe passage of ships through the Strait of Hormuz, "I will immediately reconsider this decision." According to a report from Iran's Fars News Agency on the 14th, during the enemy airstrike on Khark Island, over 15 explosions occurred. The enemy attempted to damage defensive structures, military bases, and helicopter hangars, but oil facilities remained undamaged. On Friday, Brent crude closed above $100 per barrel for the second consecutive session, reaching its highest level in over three years. WTI crude settled near $99 per barrel, the highest since July 2022. Higher oil prices have begun to impact global consumers, increasing stock market volatility and fueling inflation concerns. Analysts suggested that if Brent remains above the key psychological level of $100 per barrel, it could increase pressure on Trump to end the war with Iran.
Launch of the 48th Military Operation According to a report from the Public Relations Department of Iran's Islamic Revolutionary Guard Corps (IRGC) on the 14th, early that morning, the IRGC and Lebanon's Hezbollah jointly carried out the 48th round of the "True Promise-4" military operation. The operation involved the use of "Kheibar Shekan" missiles, "Qader" missiles, and destructive drones, targeting the Golan Heights, northern Israeli regions of Galilee and Haifa, as well as U.S. military bases in the Middle East. Earlier that day, Iran's Tasnim News Agency cited an IRGC statement reporting that Iran had launched the 47th wave of the "True Promise-4" operation, striking targets including three locations in southern Israel, the U.S. Al Udeid Air Base in Qatar, and bases of "separatist" groups in Iraq related to Iran. On the 13th, gatherings were held across Iran condemning U.S. and Israeli military aggression in multiple Middle Eastern countries. Senior Iranian officials, including the president, participated in the rally in the capital, Tehran. Despite Israel's announcement of plans to airstrike areas including central Tehran, large crowds gathered on Revolution Street in central Tehran, waving Iranian flags and chanting anti-U.S. and anti-Israeli slogans to condemn the military aggression. Attendees expressed that the U.S. and Israel aim to force Iran to "surrender" through military strikes and assassinations of Iranian leaders, but the Iranian people stand united with the military and government to resist the aggression and fight to the end. Several senior Iranian officials attended the rally in Tehran, including President Masoud Pezeshkian, Supreme National Security Council Secretary Ali Larijani, and Foreign Minister Hossein Amirabdollahian. Larijani stated that Israel's attacks on Iran were driven by "fear and desperation." He added that the U.S. fails to realize that increased pressure on the Iranian people only strengthens their resolve. Amirabdollahian noted that despite the "brutal" attacks by the U.S. and Israel, millions of people across Iran participated in the gatherings, demonstrating the unwavering support of the Iranian people for their nation.
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