As the US-Iran war enters its 12th day, the US is bracing for its “most intense” day of strikes in the ongoing conflict. While Iranian forces are launching reportedly reckless missiles, the US is preparing to unleash the largest wave of coordinated air and military strikes yet.
Amid these heightened tensions, both the crypto market and oil prices remain under pressure. With oil prices still volatile, Bitcoin and other risk assets are struggling to maintain momentum.
US-Iran War To See the Most Intense Day
According to the latest reports, the US is preparing to launch precision attacks designed to counter Iranian missile launches. Pentagon chief Pete Hegseth stated that the US will intensify its attacks in the ongoing US-Iran war.
Hegseth’s comments come in response to Iran’s missile attacks, which he calls reckless and deliberate. He noted that Iran has been firing missiles from within civilian sites such as schools and hospitals. According to him, this paints Iranians as “desperate and scrambling like the terrorist cowards they are.” He added, “Iran stands alone, and they are badly losing.”
Amid these tensions, US President Donald Trump has hinted at potential negotiations with Iran, but under certain conditions. Previously, he had stated that the negotiations would require Iran to agree to terms acceptable to the US, including an “unconditional surrender.” However, Iran has stated multiple times that the country is not seeking peace talks, asserting that it will not surrender.
“Our will is endless,” stated Hegseth, highlighting the US’s commitment to sustaining pressure on Iran until its missile and military capabilities are significantly degraded. He emphasized that the US remains determined to carry out its operations while minimizing harm to civilians.
According to him, there are three main goals for the US. The first is to destroy Iran’s stockpiles, launchers, and the industrial base that produces them. The second is to neutralise the country’s navy. However, the ultimate agenda is to “permanently deny Iran nuclear weapons.”
Will Oil Prices Continue to Fall?
As the US-Iran war continues to worsen, the oil prices have shown sharp volatility. After hitting record high levels, it plunged below $100, now at $84, with a marginal increase. Yesterday, it even plunged below $80, amid heightened US-Iran conflicts.
The sudden fall in the oil price follows G7 discussions on the release of 400 barrels of oil. While the move came in response to the rising oil prices, the discussions sent the values down.
The latest reports indicate that the International Energy Agency (IEA) is preparing for the record release of oil barrels. As a result, experts believe that the oil price could dip further.
Adam Cochran, a prominent voice on X, commented,
“182M barrels of oil is only one week of output from the Strait of Hormuz… So we’re risking global strategic reserves to dampen the price for a whole week so Trump can continue his hissyfit?”
Cochran’s comment is a critique of the short-term U.S. policy move regarding oil reserves. While the decision is apparently to tackle the surging oil prices, Cochran sees it more as a political move. Thus, he says that it is not about long-term energy security or economic strategy, and thus is expected to have the least impact on the prices.
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