Oil Market Turmoil Complicates Trump’s Iran Military Campaign

President Donald Trump’s war strategy against Iran is facing new pressure as rising oil prices and threats to the Strait of Hormuz complicate the conflict. Trump launched Operation Epic Fury to dismantle Iran’s nuclear program, ballistic missile systems, naval forces, and regional proxies.

But the war has increasingly become tied to global energy markets as Iran attempts to disrupt oil shipments. Iran has targeted vessels moving through the Strait of Hormuz, a route that carries about one fifth of the world’s oil supply.

Iranian oil squeeze tests Trump's war plans https://t.co/vdBtVLAh1C

— Axios (@axios) March 12, 2026

Two oil tankers were attacked in the Persian Gulf this week, the report by Axios said, with images showing one ship on fire near Iraqi waters.

Trump responded by coordinating the largest emergency oil reserve release in history, totaling 400 million barrels globally. Oil prices still climbed above $100 per barrel.

The report said Iran hopes higher energy prices will increase global pressure on the United States and Israel to halt military operations.

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