ChainThink News, March 12: Last night and this morning, the conflict among the US, Israel, and Iran has shown signs of a turning point, with the dispute now shifting to a strategic contest over oil prices and the US stock market. Meanwhile, Iran has formally proposed negotiation terms. ChainThink summarizes as follows:

Last night, under US leadership, the International Energy Agency (IEA) announced the release of 400 million barrels of emergency petroleum reserves into the market—marking the largest coordinated drawdown in history. Almost simultaneously, Trump stated that the war would "end soon." On the other hand, Iran warned that oil prices could surge to $200 per barrel, as oil storage capacity across Gulf states approaches saturation, with nearly 20 million barrels of supply daily still unable to enter the market.

This morning, two oil tankers were attacked in the northern Persian Gulf near Iraq and Kuwait, reigniting concerns over commercial shipping security in the region. International oil prices surged at the opening of Thursday’s trading session, breaching $90 per barrel.

Additionally, an Iranian ambassador confirmed that the country’s newly appointed Supreme Leader, Mujtaba, was injured in an airstrike on February 28. At the same time, Iran clarified its conditions for a potential ceasefire agreement with the US and Israel, including: recognition of Iran's legitimate rights; compensation payments to Iran; and a firm international commitment against future aggression.

In the cryptocurrency space, despite recent inflows into ETFs, Bitcoin remains range-bound near $70,000, with the price standing at $69,918.10 at press time, down 0.49% over the past 24 hours.