The Middle East situation remains tense: Trump orders airstrikes on Iran resulting in the death of Khamenei, causing sharp fluctuations in oil prices and global markets.
According to CNBC, on March 2nd, the United States and Israel entered the third day of military operations against Iran, with tensions in the Middle East continuing to escalate. U.S. President Donald Trump stated that the operation aims to eliminate security threats posed by Iran and warned that the conflict could last for several weeks. Previously, the U.S.-Israel coalition launched a large-scale airstrike against Iran, during which Iran’s Supreme Leader Ali Khamenei was killed, prompting Iran to retaliate with missile and drone attacks.
Iran subsequently launched counterattacks against Israel and Gulf countries hosting U.S. military bases, including the United Arab Emirates, Qatar, Kuwait, and Saudi Arabia. Some attacks targeted civilian facilities, with reports of explosions and infrastructure damage in multiple areas of Dubai. Iranian state media reported that over 200 people have died in the airstrikes. U.S. military officials stated that three soldiers have been killed and five wounded in the conflict.
As the Middle East conflict intensifies, global financial markets reacted swiftly. International oil prices surged significantly, with U.S. crude rising over 8% and Brent crude approaching a 9% increase. Meanwhile, demand for safe-haven assets increased, pushing gold and silver prices higher, while global risk assets generally declined. U.S. stock index futures fell, and Asian markets also came under pressure, with major indices in Japan, Hong Kong, and China experiencing varying degrees of decline.
Politically, reactions among countries are notably divided. Chinese Foreign Minister Wang Yi, during a call with Russian Foreign Minister, stated that the U.S.-Israel attacks on Iran are unacceptable and called for an immediate ceasefire. Russian President Vladimir Putin condemned Khamenei’s death, saying the action violates international law.
Within the Western camp, there are also differing voices. UK Prime Minister Keir Starmer said that the UK did not directly participate in the attack but allowed U.S. forces to use bases for defensive operations. French President Emmanuel Macron called for a United Nations Security Council meeting to urge Iran to engage in nuclear negotiations.
Meanwhile, legal disputes have arisen domestically in the U.S. Analysts pointed out that Congress has not officially authorized war against Iran. Brian Finucane from the International Crisis Group noted that the scale of this military operation is significant and its legal basis is under scrutiny.
Amid ongoing military pressure, Trump revealed that Iran’s new leadership has expressed willingness to negotiate, and the U.S. has also agreed to dialogue. Market and diplomatic circles are closely watching, as the coming weeks are seen as a critical window to determine whether the Middle East conflict will further escalate or shift toward negotiations.