Iran conflict shifts to oil price game, Iran proposes negotiation conditions for the first time, crypto trades sideways awaiting direction

BlockBeats news, March 12, last night and this morning, a turning point emerged in the conflict among the US, Israel, and Iran, with the dispute beginning to revolve around oil prices and US stocks. Meanwhile, Iran proposed conditions for peace talks for the first time. BlockBeats summarizes as follows:

Last night, under US leadership, the International Energy Agency (IEA) announced the release of 400 million barrels of emergency oil reserves to the market, marking the largest reserve release operation in history. Almost simultaneously, Trump stated that the war would "end soon." On the other hand, Iran declared that oil prices would rise to $200 per barrel, Gulf countries' oil storage capacity is reaching saturation, and nearly 20 million barrels of oil supplied daily still cannot enter the market.

This morning, two oil tankers were attacked near the northern Gulf off Iraq and Kuwait, once again raising concerns about commercial shipping safety in the region. International oil prices surged sharply at the start of Thursday's trading, breaking through $90.

Additionally, the Iranian ambassador confirmed that Iran's new Supreme Leader Mujtaba was injured in the airstrike on February 28. At the same time, Iran clarified its requirements for reaching a potential ceasefire agreement with the US and Israel. The demands include: recognition of Iran's legitimate rights; Iran receiving compensation; firm international guarantees against future acts of aggression.

In the cryptocurrency sector, despite recent ETF inflows, bitcoin continues to fluctuate narrowly around $70,000. As of press time, bitcoin is quoted at $69,918.10, with a 24-hour decline of 0.49%.