Iran Conflict Shifts to Oil Price Game, Iranian Side First Mentions Talks Conditions, Crypto Trades Sideways in Narrow Range Awaiting Direction

BlockBeats News, March 12. Last night and this morning, a turning point occurred in the US-Iran-Israel tripartite conflict, which began to revolve around oil prices and US stocks. At the same time, Iran proposed conditions for negotiations. BlockBeats summarizes as follows:

Yesterday evening, led by the United States, the International Energy Agency (IEA) announced the release of 400 million barrels of emergency oil reserves to the market, marking the largest-ever release of strategic reserves. Almost simultaneously, Trump stated that the war would end "very soon." On the other hand, Iran warned that oil prices could rise to $200 per barrel, with oil storage capacities in Gulf countries saturated, and a daily supply of nearly 20 million barrels of oil still unable to enter the market.

This morning, two oil tankers were attacked in the northern Gulf near Iraq and Kuwait, once again raising concerns about the security of commercial shipping in the region. International oil prices surged significantly on Thursday morning, surpassing $90.

In addition, the Iranian ambassador confirmed that Iran's new Supreme Leader Ayatollah Mujtaba was injured in the February 28th airstrike. At the same time, Iran specified its requirements for a potential ceasefire agreement with the US and Israel. The demands include: Recognition of Iran's legitimate rights; Compensation to Iran; Firm international guarantees against future aggressive actions.

On the cryptocurrency front, despite recent ETF inflows, Bitcoin continues to trade in a narrow range around $70,000. As of the time of writing, Bitcoin is priced at $69,918.10, with a 24-hour decrease of 0.49%.