As the U.S.-Israeli war with Iran enters its 20th day, the conflict is entering a dangerous new phase — one defined by soaring energy prices, market chaos, and the startling possibility that American boots may soon be on Iranian soil.
On Thursday, March 19, oil prices surged to $119 a barrel before settling at $108.65 — a nearly 50 percent increase since Operation Epic Fury began on February 28. Global markets gyrated as investors absorbed the impact of fresh Iranian strikes on Qatar’s Ras Laffan gas terminal and energy infrastructure throughout the Persian Gulf.
The situation has become so dire that the Trump administration is now considering moves that would have seemed unthinkable just weeks ago: lifting sanctions on Iranian oil and deploying ground troops to Iranian territory.
Ground Troops on the Table
According to a bombshell exclusive from Reuters, President Trump’s administration is actively considering deploying thousands of U.S. troops to reinforce operations in the Middle East. The options under discussion include some of the most aggressive military moves since the war began.
Among the scenarios being weighed:
- Securing the Strait of Hormuz — the narrow waterway through which roughly 20 percent of the world’s oil flows. Tanker traffic has ground to a virtual standstill, and Iran has made at least 21 confirmed attacks on merchant ships since the conflict began.
- Seizing Kharg Island — the hub for 90% of Iran’s oil exports. The U.S. already struck military targets on the island on March 13, but controlling it would be far more complex than bombing it. One U.S. official described the operation as “very risky,” noting Iran’s ability to reach the island with missiles and drones.
- Securing Iran’s uranium stockpiles — a highly complex special operations mission aimed at ensuring Iran’s highly enriched uranium doesn’t fall into the wrong hands or get weaponized during the chaos of war.
A White House official told Reuters: “There has been no decision to send ground troops at this time, but President Trump wisely keeps all options at his disposal.”
When asked directly by reporters on Thursday whether he planned to deploy more troops, Trump deflected: “I’m not putting troops anywhere. But if I was going to, I wouldn’t tell you.”
The Oil Sanctions Paradox
In one of the most striking developments of the war so far, Treasury Secretary Scott Bessent told Fox Business on Thursday that the administration might take the paradoxical step of lifting sanctions on some Iranian oil — even as U.S. warplanes continue bombing Iranian military targets.
The logic, however twisted, makes a certain kind of sense: with global oil prices up nearly 50 percent in under three weeks and the Strait of Hormuz effectively closed, the administration needs to find oil wherever it can. Releasing sanctioned Iranian crude already loaded on tankers could provide some immediate relief to markets screaming for supply.
It’s not the only unorthodox move on the table. The Treasury Department also eased sanctions on Venezuela’s state-owned oil company on Thursday, allowing U.S. firms to do business with the country as the administration scrambles to boost global oil supply.
President Trump told reporters he had directed Israeli Prime Minister Benjamin Netanyahu to cease attacks on Iran’s energy fields — an acknowledgment that the energy war has become as dangerous to the global economy as the military campaign itself.
Netanyahu Claims Victory — Without Evidence
Hours after Trump’s directive, Netanyahu held a news conference in Jerusalem where he made a sweeping claim: that after 20 days of bombardment, it was “no longer possible for Iran to enrich uranium or manufacture ballistic missiles.”
He provided no evidence for the assertion. Notably, he said nothing about Iran’s stockpile of highly enriched uranium buried beneath the nuclear site at Isfahan — a stockpile that was driven underground by U.S. strikes last year. The White House declined to comment on Netanyahu’s claims.
Iran Strikes Back at Gulf Energy Infrastructure
The energy crisis deepened on Wednesday when Iranian forces launched a new round of attacks on major energy facilities in the region, including Qatar’s critical Ras Laffan gas terminal. The strikes sent shockwaves through global energy markets and raised serious questions about whether Gulf states can continue exporting oil and gas.
Iran has warned civilians to evacuate three major ports in the United Arab Emirates, including the busiest port in the Middle East. Gulf oil and gas producers have warned that exports could be cut off entirely within weeks if the conflict continues at its current intensity.
Trump responded by threatening to strike Iran’s South Pars gas field — one of the largest natural gas fields in the world. Such a strike would represent a massive escalation and could send energy prices spiraling even higher.
Markets in Turmoil
The economic fallout from the conflict is becoming impossible to ignore. Thursday’s market session was a rollercoaster:
- Oil prices surged to $119 before falling back to $108.65 after Trump’s directive to Netanyahu.
- The S&P 500 closed 0.3 percent lower amid the volatility.
- International crude futures are up almost 50 percent since February 28.
“It really comes down to when tankers can securely flow through the strait again,” said Jim Burkhard, head of research for oil markets at S&P Global Energy. “But then you will have bottlenecks even after that opens.”
The Pentagon, meanwhile, is seeking $200 billion in funding for the war — a staggering sum that adds to the financial and political costs of a campaign that polls show only one in four Americans support.
Leadership Crisis in Tehran
Inside Iran, the war is compounding an already severe leadership crisis. Supreme Leader Ayatollah Mojtaba Khamenei — who assumed power after joint U.S.-Israeli strikes killed his predecessor — has been largely invisible since taking the title. His condition and whereabouts remain uncertain, and his first public statement was delivered only in writing, promising more pain for Gulf Arab states and threatening to open “other fronts.”
The assassination of Basij militia commander Gholamreza Soleimani, confirmed earlier this week, marked the highest-level killing in the war since the strikes on the former Supreme Leader. The Iranian regime has also intensified its domestic crackdown, targeting individuals with Starlink access and reducing VPN availability as it tries to control the narrative inside the country.
What Comes Next
The war is at a critical inflection point. Three weeks of air and naval operations have degraded Iran’s military infrastructure, but they haven’t stopped Iran from striking back at Gulf energy targets or threatening global oil supplies. The administration faces a set of increasingly uncomfortable choices:
- Escalate with ground troops — risking American casualties and domestic political backlash.
- Continue the air campaign — while Iran keeps hammering Gulf energy infrastructure.
- Seek a diplomatic off-ramp — though no serious negotiations appear to be underway.
Trump officials have privately expressed fears the conflict could grind on through September, according to the Daily Mail, with some 200 U.S. troops already injured. Seven American service members have died.
For now, the president insists the crisis “will be over with soon.” Markets — and millions of Americans watching gas prices climb — are hoping he’s right.
This is a developing story. Check back for updates.