US EditionTwo oil tankers burn near Iraq as Iranian strikes defy Trump's claim to have won the war
Iran’s use of explosive-laden boats in Iraqi waters killed one crew member and disrupted port operations, escalating regional tensions and threatening global oil supply routes.
- On March 12, 2026, Iran set ablaze two oil tankers in Iraqi territorial waters, warning oil could reach $200 a barrel and defying President Donald Trump's claim of winning the war.
- After nearly two weeks of war unleashed by joint U.S. and Israeli forces, around 2,000 people have died and at least 14 vessels were struck as Iran's Islamic Revolutionary Guard Corps warned ships in the Strait of Hormuz would be targeted.
- The ships involved were the Marshall Islands-flagged Safesea Vishnu and Malta-flagged Zefyros, struck by explosive-laden boats and underwater drones, killing one crew member and causing fires with fuel leaks.
- Markets reacted as Oman evacuated Mina Al Fahal and Brent crude surged 10.5%, while bitcoin fell to $69,393 after tanker attacks.
- The IEA urged releasing 400 million barrels from global reserves, while the U.S. authorised 172 million barrels from the Strategic Petroleum Reserve starting next week, amid Mina Al Fahal's roughly 1 million barrels per day exports.
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175 Articles
'Peak war panic' will likely hit financial markets in 1-3 weeks, strategist predicts, as Trump says he doesn't want to make a deal with Iran yet
"The end is not in sight. The Strait of Hormuz is effectively closed, and markets are starting to price in a prolonged, uncertain endgame."
War in Iran and the Great Reset
The War in Iran is already pushing The Great Reset agenda forward, as every major narrative seems to do. Iran is threatening to close the Strait of Hormuz, or already has, or can’t because their navy was destroyed, or is closing it for everyone but China. It’s all rather unclear. What IS clear is that vast amounts of shipping carrying millions of barrels of oil and gas passes through that stretch of water every day, and its closure – or even thr…
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No quick end to war as tankers burn in Iraqi waters
Here are today’s headlines – the latest news in the Philippines and around the world: Trump and Iran signal no quick end to war as tankers burn in Iraqi waters The United States and Iran signal no quick end to their war as tankers burn in Iraqi waters. US President Donald Trump says it was necessary to finish the job, while Iran warns the world should be ready for oil at $200 a barrel. COA flags another overpriced Davao road project, seeks Omb…
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