WASHINGTON (dpa-AFX) - Oil price surged to $108 per barrel and Asian stocks crashed after President Donald Trump threatened to hit Iran 'extremely hard' in his primetime address to the nation Wednesday night.
Trump claimed that in one month since launching military Operation targeting Iran's key energy, defense and nuclear infrastructure, the U.S. military has delivered swift, overwhelming blows to the Iranian regime - decimating its navy, shattering its air force, eliminating its key terrorist leaders, and systematically dismantling its ability to threaten the United States, its allies, and the world.
'Iran's navy is gone. Their air force is in ruins. Their leaders, most of them - the terrorist regime they led - are now dead. Their command and control of the Islamic Revolutionary Guard Core is being decimated as we speak. Their ability to launch missiles and drones is dramatically curtailed and their weapons, factories, and rocket launchers are being blown to pieces - very few of them left. Never in the history of warfare has an enemy suffered such clear and devastating large-scale losses in a matter of weeks.'
The United States kicked off combat operations against Iran, code-named Operation Epic Fury, on February 28, with specific goals: destroy Iranian offensive missiles and missile production, destroy the Iranian navy and other security infrastructure, and ensure that Iran never has nuclear weapons. Trump told Americans that the U.S. military was nearing completion of operational objectives in Iran.
The president said over the next few weeks, the U.S. would intensify operations in Iran, permanently disabling its ability to project power outside its own borders and to keep it from ever having a nuclear weapon.
Trump added that his administration is on track to complete all of America's military objectives very shortly. 'We are going to hit them extremely hard over the next two to three weeks. We are going to bring them back to the stone ages where they belong. He added that in the meantime, discussions are ongoing. 'We have all the cards; they have none.'
Taken together, these actions have crippled Iran militarily and crushed its ability to support terrorist proxies, according to the president.
U.S. Central Command stated that since the start of operations, more than 12,300 sites were attacked in Iran, more than 13,000 combat flights were launched and more than 155 Iranian military vessels were damaged or destroyed.
Iran is 'really no longer a threat,' according to Trump.
He asked Americans to remember 13 military personnel who have lost their lives during the Middle East war.
The president thanked allies in the Middle East, including Israel, Saudi Arabia, Qatar, the United Arab Emirates, Kuwait and Bahrain, for providing support to American forces.
Trump also called on allies to 'build up the courage' to secure shipping in the Strait of Hormuz, saying that the U.S. doesn't need it.
Trump downplayed the importance of the crucial energy route, claiming that the United States imports 'almost no oil' through the shipping lane.
However, BBC reported quoting data from the US Energy Information Administration that the U.S. government imported about 0.4 million barrels of crude oil and condensate per day via the Strait of Hormuz in the first two quarters of 2025.
To those countries that can't get fuel, many of which refused to get involved in the war against Iran, Trump suggested that they buy oil from the United States, and 'build up some delayed courage, go to the Strait, and just take it.'
Trump's address apparently did not ease the pressure on global oil markets.
After Trump's televised speech ended, Brent crude oil price increased 5 percent to $106 a barrel, while U.S. benchmark crude, WTI, jumped more than 4 percent to cross $104 per barrel.
Brent crude was trading above $108 and WTI above $107 Thursday.
Iran's military refuted Trump's claim that incessant attacks have weakened it. 'Following the powerful and unimaginable blows you have already received, expect even more crushing, more extensive and destructive actions from us,' it said in a statement.
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