Iran Conflict Shifts to Oil Price Game, Iranian Side First Mentions Talks Conditions, Crypto Trades Sideways in Narrow Range Awaiting Direction

March 12 – A turning point emerged in the U.S.-Iran-Israel trilateral conflict overnight and this morning, with the situation now centering on oil prices and U.S. equities. Iran also put forward conditions for negotiations. BlockBeats summarizes key developments below: Last night, led by the U.S., the International Energy Agency (IEA) announced the release of 400 million barrels of emergency oil reserves—marking the largest strategic reserve release in history. Almost simultaneously, former President Trump stated the war would end “very soon.” On the flip side, Iran warned oil prices could surge to $200 per barrel, noting Gulf countries’ oil storage capacities are saturated and nearly 20 million barrels of daily supply still cannot reach the market. This morning, two oil tankers were attacked in the northern Persian Gulf near Iraq and Kuwait, reigniting concerns over commercial shipping security in the region. International oil prices spiked sharply Thursday morning, topping $90 per barrel. Additionally, the Iranian ambassador confirmed Iran’s new Supreme Leader Ayatollah Mujtaba was injured in the February 28 airstrike. Meanwhile, Iran outlined its demands for a potential ceasefire agreement with the U.S. and Israel, which include: **Recognition of Iran’s legitimate rights; Compensation for Iran; Firm international guarantees against future aggressive actions.** In crypto markets, despite recent inflows into ETFs, Bitcoin continues to trade in a tight range around $70,000. As of press time, Bitcoin is priced at $69,918.10, down 0.49% over the past 24 hours.