【Iran Crisis】Oil prices plummet by 10% Trump: Iran war will end soon, but not this week (updating)

Oil prices plunged by 10%, with Brent crude dropping 9% to $90.3, and WTI falling 8% to $87. Reports indicate large-scale strikes erupted in Tehran and Karaj, with protests also reported in Isfahan and Tabriz. Tehran experienced widespread power outages.

President Trump held a press conference, stating that the Iran war will end soon, but not this week. He emphasized the importance of keeping the Strait of Hormuz open, mentioning that the U.S. has more oil and natural gas than needed, and that the final outcome of the Iran conflict will be a decrease in oil prices. The Strait of Hormuz will remain secure. He called for Iran to select a peaceful leader.

$1 or less for Monday news====

Iran: If oil prices can withstand rising above $200, “we will continue this game” G7 has no consensus on releasing strategic reserves Oil prices once surged 30% toward $120

The Strait of Hormuz remains nearly blocked, with Gulf countries planning production cuts. International oil prices soared by up to 30%, approaching $120 per barrel. However, after reports that G7 countries are discussing a joint release of strategic reserves, oil prices briefly narrowed their gains.

France’s finance minister stated that the consensus is to use all necessary tools to stabilize the market if needed, including releasing reserves.

The surge in oil prices has intensified global market turbulence, triggering circuit breakers in Japan and South Korea. U.S. stock futures dropped over 1,000 points Monday morning, with the Dow down more than 600 points at open, the Nasdaq falling 1.2%, and the S&P 500 down 80 points. The US dollar index stands at 99.185.

The blockade of the Strait of Hormuz has caused oil storage facilities to fill rapidly, prompting Kuwait and the UAE to begin reducing production. External reports cite that two Saudi Aramco oil fields have started to cut output, though the extent is not specified; some internal sources say Aramco is merely reallocating export supplies.

Additionally, Macron announced at Paphos Air Force Base in Cyprus that France plans to establish a “purely defensive” mission with European and non-European countries to escort container ships and oil tankers, aiming to gradually reopen the Strait of Hormuz after the most intense phase of conflict.

Iran: If oil prices can endure above $200, “we will keep playing” — prices may stay in triple digits for a period

Iran’s Hatam Anbia Central Command spokesperson issued a video statement warning the U.S. and Israel to stop “inhuman actions.” He told the U.S. and Israel that if they can tolerate oil prices exceeding $200 per barrel, “then keep playing this game.”

Iranian Parliament Speaker Qalibaf said that if the current conflict expands further to infrastructure, its economic impact will persist regionally and globally for a long time. He suggested that international oil prices could remain in the triple digits for some time.

The Iranian Islamic Revolutionary Guard Corps issued a statement claiming they carried out the “Real Commitment 4” operation, the 31st wave of strikes, using heavy missiles against U.S.-related targets. They also said that early that morning, IRGC Navy drones and cruise missiles attacked and “destroyed” a U.S. helicopter base inside Kuwait, including fuel tanks, helicopter pads, and logistics facilities, calling this “extremely critical.”

Trump posted on Truth Social: “In the short term, oil prices will drop rapidly once the Iran nuclear threat is eliminated. This is a very small price to pay for the security and peace of the U.S. and the world. Only fools would think otherwise.”

Hojjatoleslam Mojtaba, son of Khamenei, appointed Iran’s Supreme Leader

According to Iranian state media, the Expert Assembly has selected Mojtaba Khamenei to succeed his father, Ayatollah Ali Khamenei, as the country’s new Supreme Leader.

The IRGC issued a statement welcoming Mojtaba’s appointment, describing him as a “comprehensive jurist, a young thinker, and highly knowledgeable on political and social issues.” The statement expressed respect, loyalty, and obedience to him, stating members are “ready to fully obey and sacrifice themselves in executing the sacred command of the Guardian Jurist.”

$1 or less for Tuesday news====

Iran: Will choose new leader within 24 hours; UK plans to send two aircraft carriers; Trump: Those who don’t need to fight only after victory

Trump, speaking on Air Force One, said unconditional surrender means “they surrender, or when they can no longer fight, and no one around them can surrender either, that might happen because you know we have eliminated their leadership many times.” Regarding the absence of ships passing through the Strait of Hormuz, Trump said, “That’s their choice. But we’ve cleared it; we’ve destroyed their navy. Their navy is now at the bottom of the sea.”

He continued, “We expect oil prices to rise, and that’s expected. But they will also fall. They will fall very quickly.” Trump indicated that strategic reserves could be used when appropriate.

Regarding ground troops, Trump said there must be very solid reasons: “If we really do that, they will face devastating blows so severe they cannot fight on the ground.” He also said he does not want the Kurds involved, not wanting the war to become more complicated, “I really told them I don’t want them to go in.”

Trump said, “We’ve taken out one leadership layer, then the second, and now they are at the third or fourth layer, with leaders no one even knows.”

According to expert assembly member Ayatollah Mozafari, cited by semi-official Fars News Agency, Iran plans to hold a meeting within 24 hours to elect a new Supreme Leader. IRGC spokesperson told national TV that Iran is “completely prepared to continue intense, comprehensive war for at least six months at the current pace.”

Additionally, Iran’s president said he has instructed the military not to attack any countries that have not attacked Iran, despite attacks on the UAE, Saudi Arabia, and others.

Dubai Media Office issued a statement saying operations at Dubai International Airport are temporarily halted for security reasons.

UAE President issued a rare warning to the country’s “enemies” not to mistake UAE’s prosperity for weakness. As Iran continues attacks on this Gulf nation, he said, “UAE is tough and resilient, not an easy target,” visiting a hospital where injured civilians from Iran attacks are being treated.

Several European officials have reported that Saudi Arabia has increased direct contacts with Iran, trying to curb Middle East war, which has caused serious turmoil and pressure on global markets.

On the oil production front, Abu Dhabi National Oil Company, the UAE’s largest oil producer, said it is “managing” offshore oil output levels to meet storage demands. The company continues to utilize export routes bypassing the Strait of Hormuz and its international storage facilities to ensure supply reaches global customers.

Trump posted on Truth Social: “The UK, our once-great ally—perhaps the greatest—finally considering dispatching two aircraft carriers to the Middle East. No problem, Prime Minister Sunak, we no longer need them—but we will remember. We don’t need to fight only after we’ve already won the war!”

Trump also claimed that Iran, suffering heavy blows, has apologized to neighboring Middle Eastern countries and surrendered, promising not to fire on them again. This promise was made solely because of relentless US and Israeli attacks. Iran once aimed to dominate and control the entire Middle East. It’s the first time in thousands of years they’ve been defeated by neighboring Middle Eastern countries. They said, “Thank you, President Trump.” I replied, “You’re welcome!” Iran is no longer “the Middle East bully”; instead, they are “the Middle East losers,” and will remain so for decades until they surrender or, more likely, collapse entirely. Today, Iran will face a heavy blow! Due to Iran’s malicious actions, some areas and populations that have not yet been targeted are being seriously considered for complete destruction and inevitable death.

$1 or less for Saturday news====

The U.S. is providing $20 billion in reinsurance for oil tankers. Trump: Weapons production accelerated threefold

After announcing the reinsurance guarantee for ships passing through the Strait of Hormuz, the U.S. International Development Finance Corporation (DFC), led by CEO Ben Black and U.S. Treasury Secretary Yellen, announced that the reinsurance mechanism will provide up to approximately $20 billion in loss coverage on a rolling basis, covering oil tankers and other maritime traffic, to promote the safe passage of ships through the Strait.

Due to Iran’s war causing oil tanker traffic in the Persian Gulf to halt, U.S. crude prices surged over 13%, breaking $91 per barrel. Some Gulf countries, unable to export oil via the strait, have begun reducing production.

Ben Black stated, “We are confident this reinsurance plan will ensure the smooth flow of oil, gasoline, LNG, jet fuel, and fertilizers through the Strait of Hormuz, back into global markets.”

Source: https://www.dfc.gov/media/press-releases/dfc-announces-20b-plan-maritime-reinsurance-gulf

Meanwhile, Qatar is loading LNG.

Trump posted on Truth Social: “Had a very successful meeting with our top defense manufacturers, discussing capacity and production schedules. They agreed to increase the ‘Exquisite Class’ weapons production by four times because we want to reach maximum output as soon as possible.”

“Production expansion began three months ago, and many factories for these weapons are now under construction and operational. We have nearly unlimited supplies of medium and upper-tier munitions, such as those used against Iran and recently in Venezuela. Still, we are increasing orders for these types of weapons.”

“Representatives from BAE Systems, Boeing, Honeywell Aerospace, L3Harris Missile Solutions, Lockheed Martin, Northrop Grumman, and Raytheon attended. A follow-up meeting is scheduled in two months. States across the country are bidding for these new factories.”

Additionally, Yellen indicated that the U.S. might lift sanctions on further Russian oil supplies, “The Treasury has agreed to let our allies in India start purchasing Russian crude already at sea, to help alleviate the temporary global oil shortage. We are allowing them to receive this Russian oil. We may lift sanctions on other Russian oil.”

$1 or less for Friday news====

US: B-2 bombers dropped dozens of 2,000-pound precision-guided bombs; LOCUS drones indispensable

The seventh day of U.S. bombing Iran. Trump met with Miami FC champion Messi at the White House, led by the U.S. military. Trump said, “Messi (cheering) is… my son asked, Dad, do you know who’s coming today? I said, I don’t know, I have a lot to do. He said, Messi. I said, really? He’s your biggest fan,” “You might say I’m old, but I’ve watched Billy play; he’s with the Cosmos. You might be better than Billy. Billy’s pretty good. Who’s better? Him or Billy? (pointing at Messi, crowd laughs) Messi! I agree. But… Billy’s also pretty good.”

Regarding the Iran conflict, Trump said, “I again call on all members of the IRGC, military, and police to lay down their weapons. Accept immunity, and we will give you immunity. Otherwise, you face guaranteed death. I don’t want to see that.”

He urged Iranian diplomats worldwide to seek asylum and help shape a new, better Iran. “This is a country with great potential, with us.”

Iran’s missiles targeted Qatar, Saudi Arabia, UAE, and many other countries. Those not heavily involved had their targets aimed at them long before the conflict started. They targeted the entire Middle East. Then we came. We destroyed their party."

The expansion of the Middle East conflict and supply disruptions have raised global supply concerns. U.S. benchmark crude (WTI) rose above $80 per barrel for the first time in over a year. U.S. Secretary of the Interior Bernhardt said the Trump administration is considering options to address soaring oil and gasoline prices during the Iran war, “all options are under consideration.” So far, the U.S. has not used strategic petroleum reserves.

U.S. Secretary of Defense Hagel said, “We are not short of munitions. Our stockpiles of defensive and offensive weapons allow us to sustain this campaign as needed. Munitions will only increase as our advantage grows,” “The combat power we can project over Iran, combined with Israel’s capabilities, is currently several times greater.”

Joint Task Force “Epic Fury” Commander Lt. Gen. Cooper said over 50,000 troops are currently executing the mission. In the past hour, B-2 bombers dropped dozens of 2,000-pound bombs targeting buried ballistic missile launchers. They also struck an Iranian space command-like facility, weakening their ability to threaten Americans.

He said that compared to day one, Iran’s ballistic missile attacks have decreased by 90%, drone attacks by 83%. About 30 ships have been sunk or destroyed. In recent hours, a drone carrier roughly the size of a WWII aircraft carrier was hit and is now on fire. The next phase aims to systematically dismantle Iran’s future missile production capacity.

He responded to questions, saying Ukraine deployment is being adjusted to counter Iran’s drones.

He also denied reports that F-15s were shot down, claiming they are false, and that Iran falsely claims 500 Americans have been killed.

Using $10,000 worth of weapons to shoot down $10,000 drones.

Regarding LOCUS drones, he said new capabilities have been deployed for interceptors. Over time, the cost curve of drones has been somewhat reversed. Years ago, it was common to hear that a $2 million missile shot down a $50,000 drone. Now, it takes a $10,000 weapon to shoot down a $100,000 drone.

But LOCUS drones are indispensable. Originally designed by Iran, the U.S. has captured one, disassembled its parts, sent it back to America, labeled it “Made in USA,” and is now deploying them against Iran.

$1 or less for Thursday news====

White House: Complete control of Iran’s airspace in hours; Spain agrees to cooperate with U.S. military

Sixth day of U.S. bombing Iran. White House Press Secretary Karine Jean-Pierre said that so far, over 20 Iranian vessels have been destroyed, including the first use of torpedoes since WWII last night, destroying Iran’s top submarine. Currently, no Iranian ships are operating in the Arabian Gulf, Strait of Hormuz, or Oman Gulf.

Jean-Pierre noted that the U.S. military has targeted over 2,000 objectives, destroying hundreds of ballistic missiles, launchers, and drones. She expects full and thorough control of Iran’s airspace within hours.

When asked who is giving orders in Iran, she said intelligence agencies are closely monitoring and paying attention to that.

Spain, which initially refused U.S. use of bases, agreed to cooperate with the U.S. military after pressure from Trump.

Regarding the Strait of Hormuz, Jean-Pierre said the U.S. Navy will begin escorting oil tankers through the strait at the “appropriate” time.

On increasing munitions stockpiles, she said she has not heard the President considering that.

$1 or less for March 4 news====

Khamenei’s son reportedly elected new Supreme Leader; IRGC: Block Strait of Hormuz

Senior clerics responsible for electing Iran’s next Supreme Leader convened on Tuesday (March 3). Iranian media cited sources indicating that Mojtaba Khamenei, son of the late Leader Ayatollah Ali Khamenei, is likely to have been elected as the new Supreme Leader. Mojtaba, 56, is the second son of Khamenei and currently commands Iran’s Basij militia.

As Iran’s war enters its fifth day, it has become a contest over the Strait of Hormuz between the U.S. and Iran. Trump posted on Truth Social: “Effective immediately, I have ordered the U.S. International Development Finance Corporation (DFC) to provide political risk insurance and guarantees at very reasonable prices for all maritime trade, especially energy, passing through the Gulf region. This service will be available to all shipping companies.”

He added, “If necessary, the U.S. Navy will begin escorting oil tankers through the Strait of Hormuz as soon as possible. Regardless, the U.S. will ensure that energy flows freely to the world. Our economic and military strength is the strongest on Earth—more actions are coming.”

The Islamic Revolutionary Guard Corps issued a statement: “The IRGC Navy has sent a message to the global shipping network, clearly stating that the Strait of Hormuz is now in a state of war from start to finish, and ships may face any damage from missiles or uncontrolled drones; therefore, ships should not transit the area.”

“Given the multiple warnings issued by the IRGC Navy that the Strait of Hormuz is unsafe, more than ten ships have so far been hit by projectiles and set on fire, ignoring these warnings.”

“As is evident, Iran has always pursued a policy of de-escalation, striving to create security and stability in the Persian Gulf, region, and worldwide. However, the reckless actions of Trump and Netanyahu have triggered this war, causing regional chaos and disrupting the global economic order.”

“Currently, the entire Strait of Hormuz is under the control of the Islamic Republic Navy.”

“It is worth noting that this significant and strategic action by Iran has caused a sharp rise in global oil prices, impacting economies worldwide—especially the U.S. and EU member states. Energy experts warn that if this situation continues for three weeks, the global economy could face a severe crisis.”

$1 or less for Tuesday news====

Trump: Four main objectives in Iran; U.S. Defense: Thousands of missiles fired in two days, including from U.S. aircraft

President Trump and the U.S. Secretary of Defense held two press conferences overnight. Trump stated that after the recent “Midnight Hammer” operation destroyed Iran’s nuclear program, he warned Iran not to attempt rebuilding at different locations, but they ignored those warnings and refused to cease pursuit of nuclear weapons. Moreover, Iran’s conventional ballistic missile program is rapidly developing, posing a clear and significant threat to the U.S. and deployed forces. Iran now possesses missiles capable of striking Europe.

Trump’s clear objectives are: first, destroy Iran’s missile capability, which is happening continuously, and their ability to produce new missiles, which are quite capable.

Second, eliminate their navy; ten ships have been sunk.

Third, ensure that the world’s leading state sponsor of terrorism can never obtain nuclear weapons.

Fourth, prevent the Iranian regime from continuing to arm, fund, and command its terrorist proxies abroad.

Regarding the duration of the conflict, Trump said, “It has gone far beyond our initial expectations, but it doesn’t matter how long it takes. We will do whatever is necessary,” “From the start, we expected to dismantle their military leadership within four to five weeks, but we accomplished it in about an hour. So, we are well ahead of schedule.”

“Some people today say, ‘The President wants to finish quickly; too long would be boring,’ but I’m not bored. There’s nothing boring about this. If I were bored, I wouldn’t be standing here now, I guarantee you, having gone through everything I have.”

U.S. Department of Defense: Action led by Admiral Cooper

The Pentagon officials, including Secretary Pete Hegseth and Chairman of the Joint Chiefs of Staff General Cain, attended the briefing.

Cain said that on Saturday, February 28, at 01:15 EST (09:45 Tehran time), under the orders of the President, the U.S. Central Command, commanded by Admiral Brad Cooper, began executing “Operation Epic Fury.”

“U.S. Army, Navy, Marine Corps, Air Force, Space Force, Coast Guard, and reserve units, integrated across combatant commands, are conducting unprecedented coordinated operations with Israeli armed forces.”

Thousands of personnel, hundreds of advanced fourth- and fifth-generation fighters, dozens of aerial refueling aircraft, the USS Lincoln and USS Ford carrier strike groups and their air wings, ongoing munitions and fuel supplies—all supported by command, control, intelligence, surveillance, and reconnaissance networks, with troop movements still ongoing today.

The USS Ford strike group has redeployed across the Atlantic to establish the theater, integrating reserve and National Guard units, including the Wisconsin Army National Guard in Kuwait and Iraq, and Air National Guard units from Vermont and Virginia. The Vermont ANG’s 158th Fighter Squadron, originally mobilized for “Absolute Resolve,” was assigned to support this operation with F-35 fighters, crossing the Atlantic instead of returning home. Similarly, Air National Guard and Air Force Reserve units with refueling and transport aircraft have been deployed directly from civilian jobs to protect the region.

As regional tensions escalate, joint forces have heightened protective measures under the Secretary’s orders, carefully redeploying civilians and non-essential personnel to ensure the safety and security of joint forces. By the start of the operation, only necessary forces remain at bases and in combat zones, ready to respond.

Trump approved the operation last Friday

“The moment the operation began, on Friday, February 27, at 15:38 EST, the U.S. Central Command received the final approval order from the President. The President said, ‘Operation Epic Fury is authorized. Go, and good luck.’”

“The first wave was launched by Cyber Command and Space Command, providing non-kinetic effects to disrupt, degrade, and block Iran’s communications and response capabilities.”

First 24 hours: 1,000 targets struck

“The full-scale war officially began at 01:15 EST, dawn in Tehran. Over 100 aircraft—fighters, refuelers, early warning, electronic warfare, bombers, and drones—launched a synchronized wave. This was a daylight assault triggered by Israel’s defense, facilitated by U.S. intelligence. The Navy launched Tomahawk cruise missiles against Iran’s naval forces; ground forces launched precise land-attack weapons. In the first 24 hours, over 1,000 targets were hit. The operation has now been ongoing for about 57 hours.”

“The current focus is systematically targeting Iran’s command and control infrastructure, navy, and ballistic missile bases. We have established ‘local air superiority,’ which not only enhances our forces’ protection but also allows subsequent operations to proceed.”

Tens of thousands of missiles fired over two days, including from U.S. aircraft

“In the past two days, we have launched tens of thousands of munitions, including B-2 bombers flying from the U.S. mainland for 37 hours, dropping precise deep-penetration bombs on underground facilities in southern Iran. Israel has also conducted hundreds of missions independently.”

“Defense is equally critical. The integrated air defense systems performed flawlessly. Patriot, THAAD, and naval missile defense systems intercepted hundreds of missiles aimed at our forces and allies.”

“Threats from suicide drones (One-way attack UAVs) remain, but our systems are highly effective. Air defense units from Qatar, UAE, Kuwait, Jordan, and Saudi Arabia have also joined the fight, demonstrating years of cooperation.”

$1 or less for Wednesday news====

Iran: No negotiations with the U.S.; Israel launches new airstrikes, expanding to Lebanon

Israel’s Defense Forces announced early March 2 that the Israeli Air Force launched a new large-scale strike on Tehran’s core areas, and began targeting Hezbollah positions in Lebanon in response to rocket attacks from Hezbollah. Iran responded by continuing strikes on U.S. military bases across the Middle East, with explosions reported in the UAE, Bahrain’s Manama, and Doha.

Iran’s Supreme National Security Council Secretary Ali Shamkhani stated Iran would not negotiate with the U.S. He also said the death of Supreme Leader Khamenei is a heavy blow to Iran, and that Israel and the U.S. cannot just attack Iran and walk away. Iran’s heart has been pierced, and Iran will pierce the enemy’s heart. Shamkhani also said Israel is a small country with limited population and resources, surrounded by hostile Islamic nations, and that Israel hopes to divide Iran, but the Iranian people have united and will never allow the country to be split.

Iran’s state broadcaster quoted the IRGC saying that Iran’s air force launched missile strikes on Ruwais in the UAE, destroying Israel’s deployed “Iron Dome” missile defense system there.

Iraqi Shia militia claimed to have launched drone attacks on U.S. targets at Baghdad Airport.

As the conflict expands to Lebanon, multiple Middle Eastern media report that senior Hezbollah leader Muhammad Raad was killed in the Israeli attack.

Trump: Khamenei and three Americans dead; fighting continues until objectives are achieved

Trump released a six-minute video early Monday Hong Kong time (March 2), stating that hundreds of targets inside Iran have been struck, nine vessels and naval facilities destroyed, Khamenei is dead, three Americans have been killed, and that “the fighting continues vigorously and will continue until all our objectives are achieved.” Trump told The Daily Mail that the war could last four weeks.

According to NBC, U.S. officials say the goal is to destroy Iran’s ballistic missile and nuclear programs, while Israel targets Iran’s political and military leadership. Iran has launched missiles at U.S. bases in Israel, the UAE, Qatar, Kuwait, Bahrain, and Jordan in retaliation, causing a chain reaction across the Middle East.

Bloomberg analysts estimate that if the Strait of Hormuz is blocked by Iran, Brent crude could surge to $108, as about one-fifth of global oil shipments pass through this waterway. Last Friday, Brent closed at $72.48, implying a potential increase of 49%.

President Donald J. Trump provides an update on Operation Epic Fury: pic.twitter.com/Vte8QKpISn

— The White House (@WhiteHouse) March 1, 2026

Below is the full transcript of Trump’s video:

“Over the past 36 hours, the United States and its allies launched ‘Operation Epic Fury,’ one of the largest, most complex, and most overwhelming military offensives ever seen in the world. No one has ever seen anything like this.”

Part 1: Results of the strikes:

“We have targeted hundreds of objectives inside Iran, including Revolutionary Guard facilities and Iran’s air defense systems. Just now, we announced the destruction of nine ships and their naval infrastructure. All this happened within minutes.”

Part 2: The current situation of the Iranian regime:

“Ali Khamenei, the former Supreme Leader of Iran, is dead. This man has blood on his hands from hundreds, even thousands, of Americans, and is responsible for the slaughter of countless innocent civilians in many countries. Last night, across Iran, when the news of his death was announced, Iranians could be heard cheering and celebrating in the streets.”

“The entire military command system has collapsed. Many want to surrender to save their lives. Thousands are calling to surrender. The fighting is ongoing and will continue until all our objectives are achieved. We have very clear goals. They could have taken action two weeks ago (referring to negotiations), but they simply could not.”

Part 3: Possible additional casualties:

“Earlier today, CENTCOM announced that three U.S. service members have been killed in action. As a nation, we mourn these true American patriots who made the ultimate sacrifice for our country. As they continue this righteous mission, we pray for the wounded to recover fully and extend our deepest love and gratitude to the families of the fallen.”

“Regrettably, there may be more casualties. That’s the reality until everything is over. It could be more, but we will do everything possible to prevent that. But America will avenge their deaths and strike the terrorists who are essentially at war against civilization itself. They declared war on civilization. Our resolve, and Israel’s, has never been stronger.”

Part 4: Declaring a powerful national defense:

“America is once again the wealthiest and strongest nation on Earth, far ahead of others. But the reason we enjoy our quality of life, freedom, and security is because we did what others could not—because we have brave warriors willing to stand up and even sacrifice their lives to fight the enemies. And they are better at fighting than anyone else.”

“A regime with long-range missiles and nuclear weapons would be a terrifying threat to every American. We cannot allow a country that nurtures terrorists to have such weapons, as it would enable them to extort the world with their evil will. We will not let this happen. We will not let this happen to us or to others.”

“Our military is the most powerful in the world, like never before. I rebuilt our military during my first term. No one has ever had the military strength we have now. Frankly, no one can match it. But now, we are using that strength for good, to protect our country.”

“We are taking this large-scale action not only to ensure our safety now and in the future but also to secure the future of our children and grandchildren, just as our ancestors did for us many years ago. It is the duty and burden of a free nation. These actions are right and necessary to ensure Americans never face a regime with nuclear weapons and other threats, a brutal terrorist regime.”

“For nearly 50 years, these evil extremists have attacked America, shouting ‘Death to America’ or ‘Death to Israel,’ sometimes both. They are the world’s top state sponsors of terrorism. We are the greatest and strongest nation, so we can act against them. These intolerable threats will no longer continue.”

Part 5: Urging Iran’s military to surrender:

“I again urge the Revolutionary Guard, the Iranian military, and police to lay down their weapons, accept full immunity, or face certain death. That’s the only way out, and it won’t be pretty.”

“I call on all patriotic Iranians who desire freedom to seize this historic moment. Be brave, be bold, show heroism, and take back your country! America stands with you. I made a promise to you, and I have kept that promise. The rest is up to you, but we will be there to help.”

$1 or less for Wednesday news====

Iran confirms Khamenei is dead; 40 days of national mourning BBC: his daughter and son-in-law also killed; market risk sentiment declines, Bitcoin rebounds

U.S. President Trump announced early this morning on Truth Social that Iran’s Supreme Leader Ayatollah Khamenei has died. Major global media outlets like BBC, CNN, and NBC quickly picked up the news. Reports also circulated that Israel possesses photos of Khamenei’s body. Iran’s Islamic Revolutionary Guard Corps’ Fars News Agency quoted “insiders” denying Trump’s claim as “baseless.” Around 9:40 a.m. Hong Kong time, Iran’s state TV reported Khamenei’s death, announcing a 40-day national mourning, calling him “Leader of the Islamic Revolution” martyred.

The 86-year-old Supreme Leader had ruled Iran for over 36 years since 1989, serving as the second Supreme Leader of the Islamic Republic.

Satellite images show an attack on a building in Tehran associated with Khamenei. BBC cited Fars News Agency, quoting “insiders” from the Leader’s office, that Khamenei’s daughter, son-in-law, and granddaughter were killed in the attack. Fars also reported that “a daughter-in-law of Khamenei” was among the casualties.

Earlier rumors of Khamenei’s daughter and son-in-law’s deaths circulated but were later denied.

The U.S. has launched further strikes against hundreds of targets inside Iran. Israel’s Defense Forces also launched a new round of strikes against Iran’s ballistic missile arrays and air defense systems.

[Click to enlarge images]

Trump said, “I hear many IRGC members, military, and police no longer want to fight and are seeking amnesty. They can now be granted amnesty, but afterward, they face certain death. I hope the IRGC and police can peacefully merge with patriotic Iranians and work together as a whole to restore the country’s greatness. This process should start soon because not only has Khamenei died, but the country has been severely destroyed—almost wiped out—in just one day. However, intense and precise bombing will continue nonstop for the entire week or as needed until we achieve our goals: peace across the Middle East and the world!”

The White House released images showing Trump overseeing U.S. military operations in Iran, called “Operation Epic Fury.”

[Click to enlarge images]

[Additional images omitted]

The market’s risk aversion has decreased. Bitcoin (BTC) rebounded 2.2% over the past 24 hours to $67,098, reflecting the dollar’s decline. The world’s largest stable gold-backed token, Tether Gold (XAUT), narrowed its gain to 0.8%, trading at $5,313.

Iran retaliated by hitting the Sailboat Hotel in Dubai with drones, footage shows the hotel on fire, and attack weapons appeared in the sky, reportedly intercepted by air defenses. In Israel, a residential building was struck, with reports of one death.

[Click to enlarge images]

$1 or less for Thursday news====

White House: Full control of Iran’s airspace within hours; Spain agrees to cooperate with U.S. military

Sixth day of U.S. strikes in Iran. White House Press Secretary Karine Jean-Pierre said that over 20 Iranian vessels have been destroyed so far, including the first use of torpedoes since WWII last night, destroying Iran’s top submarine. Currently, no Iranian ships are operating in the Arabian Gulf, Strait of Hormuz, or Oman Gulf.

Jean-Pierre noted that the U.S. military has targeted over 2,000 objectives, destroying hundreds of ballistic missiles, launchers, and drones. She expects complete and thorough control of Iran’s airspace within hours.

When asked who is giving orders in Iran, she said intelligence agencies are closely monitoring and paying attention.

Spain, which initially refused U.S. use of bases, agreed to cooperate after pressure from Trump.

Regarding the Strait of Hormuz, Jean-Pierre said the U.S. Navy will begin escorting oil tankers through the strait at the “appropriate” time.

On increasing munitions stockpiles, she said she has not heard the President considering that.

$1 or less for March 4 news====

Khamenei’s son reportedly elected new Supreme Leader; IRGC: Block Strait of Hormuz

Senior clerics responsible for electing Iran’s next Supreme Leader convened on Tuesday (March 3). Iranian media cited sources indicating that Mojtaba Khamenei, son of the late Leader Ayatollah Ali Khamenei, is likely to have been elected as the new Supreme Leader. Mojtaba, 56, is the second son of Khamenei and currently commands Iran’s Basij militia.

As Iran’s war enters its fifth day, it has become a contest over the Strait of Hormuz between the U.S. and Iran. Trump posted on Truth Social: “Effective immediately, I have ordered the U.S. International Development Finance Corporation (DFC) to provide political risk insurance and guarantees at very reasonable prices for all maritime trade, especially energy, passing through the Gulf region. This service will be available to all shipping companies.”

He added, "If necessary, the U.S. Navy will begin escorting oil tankers through the Strait of Hormuz as soon as possible. Regardless, the U.S. will ensure that energy flows freely to the world. Our e