US-Israel-Iran War Drives Oil Past $100 Amid Strikes and Domestic US Pushback

US-Israel-Iran War Drives Oil Past $100 Amid Strikes and Domestic US Pushback

Global oil prices have surpassed $100 per barrel amid the ongoing war between the US, Israel, and Iran. President Donald Trump addressed the economic fallout on Truth Social and Fox News, claiming the short-term price hikes are a very small price for destroying the Islamic Republic's nuclear threat, as reported by اِپُک تایمز فارسی, a right-leaning and anti-CCP outlet. Addressing concerns over commercial shipping, Trump urged vessels to show courage and cross the Strait of Hormuz, asserting that the US has sunk all of Iran's ships and destroyed 80 percent of their missile launch pads. However, فارس بین‌الملل و سیاست خارجی, an IRGC-affiliated hardline channel, described Trump's plea for shipping courage as a sign of outright desperation, pointing out that he had previously promised to militarily escort tankers through the Persian Gulf. Mainstream Iranian outlet آخرین خبر also mocked Trump's defense of the oil spikes, framing his remarks as taking the upper hand instead of accepting stupidity.

The energy market panic follows extensive Israeli airstrikes on Saturday, March 7, which targeted approximately 30 fuel depots in Tehran province. According to Western-aligned DW Persian دویچه‌‌وله فارسی, US Energy Secretary Chris Wright clarified that the United States does not intend to attack Iran's energy infrastructure. Citing Axios, DW Persian reported that the massive scale of the Israeli strikes surprised American officials and caused the first serious US-Israel rift of the war. While IDF spokesperson Effie Defrin insisted the depots fueled a terrorist regime, US officials fear that destroying civilian-used infrastructure will backfire, bolster domestic support for the Iranian government, and further spike oil prices. An IRGC Khatam-al Anbiya spokesperson warned that continued attacks on oil infrastructure could provoke regional retaliation, potentially driving oil to $200 per barrel.

Within the United States, Iranian media is heavily highlighting a rapid decline in public support for the war. The hardline conservative Iranian daily روزنامه وطن امروز declared an early defeat for Trump, citing polling data from Reuters and CNN that shows up to 60 percent of Americans believe the White House lacks a clear strategy. The publication reported that the deaths of US soldiers and over 100 Iranian students have triggered widespread anti-war protests in New York, Washington, and globally, leaving Republicans terrified of an electoral collapse. Furthermore, Vatan-e-Emrooz amplified dissenting voices in the US Congress, noting that Representative Jim McGovern criticized the nearly $7 billion spent on the war so far—an amount he highlighted as twice the budget for homeless veterans' housing.

Amid the military escalation, historical political shifts within Iran are also drawing US attention. Local Iranian news channel آخرین خبر خوزستان highlighted Trump's reaction to the election of Ayatollah Mojtaba Khamenei as Iran's new Supreme Leader. Speaking to Fox News, Trump stated he is not happy about the development, while simultaneously boasting that the US has dealt a harder blow to Iran than any other country could, claiming to have neutralized the 1,200 missiles Tehran had aimed at the Middle East over the past four months.