US-Iran-Israel Tensions, International Crude Oil Prices Surge in Early Trading

TradingKey - At 8:30 AM Beijing time, international crude oil prices surged, with WTI crude futures jumping above $95 per barrel and Brent crude futures climbing to $102 per barrel. Intraday gains expanded to 1.4%, as geopolitical tensions became the primary driver pushing oil prices upward.

Early this morning local time, Iran's Islamic Revolutionary Guard Corps (IRGC) issued a statement announcing the launch of the 57th wave of strikes under "Operation True Promise 4." During this operation, the Iranian military utilized Kheibar Shekan, Emad, and Ghadr missiles to carry out precision strikes on command and communication hubs, as well as air and missile defense positions within Israel's core territory. Simultaneously, Zolfaghar missiles and attack drones were launched to target the U.S. Al-Udeid Air Base in the Middle East.

On the evening of March 16 local time, the IRGC Navy conducted coordinated missile and drone operations, using cruise missiles equipped with high-explosive warheads to attack fighter jet deployment sites at the U.S. Sheikh Isa Air Base and Al Dhafra Air Base.

Iran emphasized that Al Dhafra Air Base has recently served as the launch point for U.S. attacks on Iranian islands. Following this strike, the base's operational capacity has been significantly weakened, and similar retaliatory actions will continue until U.S. forces completely withdraw from the region. According to on-site reports, thick smoke billowed from the maintenance and logistics hangars at Sheikh Isa Air Base after the attack.

On the evening of the 16th, the Israel Defense Forces (IDF) stated that the Israeli Air Force recently launched an airstrike on the IRGC Navy headquarters in Tehran, the Iranian capital. The IDF claimed the headquarters is located within a large building complex in eastern Tehran and has long been used as a command hub by senior IRGC officials to support Iranian military operations against Israel and other nations in Middle Eastern waters.

On the afternoon of March 16 local time, U.S. President Trump responded to media inquiries at the White House, stating that U.S. military operations against Iran would not end within the week. "The war will not end that quickly, but it certainly won't take too long," he said.