Iran’s New Supreme Leader Mojtaba Khamenei Vows Revenge on U.S. and Israel, Calls Strait of Hormuz Closure ‘Leverage’ as Attacks and $100‑Plus Oil Persist
State media aired what it said was new Supreme Leader Mojtaba Khamenei’s first statement — read on TV rather than delivered in person amid Israeli reports he was lightly wounded — vowing to “avenge the martyrs,” thanking allied militias, threatening continued attacks on U.S. bases unless they close, and saying closure of the Strait of Hormuz should be used as leverage. The warning comes as Iran has stepped up strikes on Gulf countries and shipping, U.S. forces have destroyed suspected mine‑laying vessels, maritime traffic through Hormuz has been effectively halted, Brent has surged above $100 a barrel, and international partners announced a large coordinated oil‑reserve release.
📌 Key Facts
- Iran’s newly installed supreme leader, Mojtaba Khamenei, issued his first public statement (read on state TV and not shown on camera) vowing to avenge Iranian “martyrs,” urging that closure of the Strait of Hormuz “should be used” as leverage, promising continued attacks on U.S. bases unless they are shut down, thanking allied militias (Hezbollah, Iraqi militias, Houthis), and threatening postwar compensation or seizure/destruction of property of “equivalent value” if reparations are refused; Israeli officials say he was lightly wounded in the opening strike and has not appeared in public, and the statement’s delivery/authenticity has not been independently confirmed.
- Iran and its proxies have launched sustained attacks on shipping and Gulf neighbors—striking vessels in the Strait of Hormuz, Persian Gulf and Gulf of Oman (UKMTO reports about 13 attacks since Feb. 28), hitting cargo and tanker traffic, damaging ports (including Basra) and oil infrastructure, and striking Gulf states (Bahrain, Saudi Arabia, Kuwait, UAE, Oman) and Dubai International Airport (four wounded); some strikes have killed seafarers (e.g., at least four killed after a UAE‑flagged tugboat was struck).
- The U.S. military has struck Iranian mine‑laying capacity—saying it destroyed 16 mine‑laying vessels—and CENTCOM reports actively hunting mine‑laying boats and storage facilities after U.S. intelligence warned Iran was preparing to deploy naval mines (estimates of Iran’s mine stockpile range from roughly 2,000–6,000); media reports conflict on whether mines have already been laid.
- Energy markets and policy responses: Brent crude rose above $100 a barrel (about 38% higher than before the war began, with intraday swings toward $120) and U.S. pump prices climbed (about $3.58–$3.61/gal); the IEA ordered an unprecedented 400 million‑barrel emergency release (the U.S. will provide roughly 172 million barrels over about four months), and Japan, Germany and Austria have begun releases while G7 leaders coordinate options.
- Maritime insurance and protection measures: major P&I clubs and insurers have warned they will suspend or restrict coverage for ships in Iranian waters/the Gulf, prompting calls and growing momentum to establish multinational naval escort programs (which officials say could take weeks to fully set up); the White House and Pentagon are weighing Navy escorts, insurance arrangements and other options to keep the Strait open and move oil to market.
- Human and military costs: the conflict has produced large casualties and displacement—reporting cites a regional death toll in the thousands (more than 1,800 overall, mostly in Iran; one breakdown cited roughly 1,200 in Iran, 570 in Lebanon, 12 in Israel), up to 3.2 million internally displaced in Iran (and hundreds of thousands in Lebanon), and about 140 U.S. service members wounded (most with minor injuries, eight classified as severely injured).
- Escalatory rhetoric and operations from both sides: U.S. officials and leaders (including Defense Secretary Pete Hegseth and President Trump) have declared strong air‑campaign objectives and “total air dominance,” promised intensified strikes inside Iran, and threatened severe military consequences for mining the Hormuz Strait; Iranian leaders have warned Gulf governments to close U.S. bases, threatened to target U.S.‑linked banks, and signaled possible opening of “new fronts,” all of which sustains significant regional and market uncertainty.
📊 Relevant Data
Black households in the United States experience higher energy burdens, spending on average 43% more on home energy costs than non-Black households across all income levels, with this disparity persisting even after controlling for socioeconomic factors.
Across Income Levels, African American Families Have Higher Utility Bills Than Other Households — The Journal of Blacks in Higher Education
Black and Hispanic households in the United States have experienced higher inflation rates than White households since the post-pandemic economic reopening, exacerbating economic disparities during periods of rising energy costs.
US Bifurcated – Economic backdrop deepens racial disparities — Oxford Economics
Historical IEA emergency oil stock releases, such as those in 1991 during the Gulf War and 2011 amid Libyan disruptions, have typically provided only temporary price relief without resolving underlying supply issues.
Historic oil reserve release is only a band-aid on a gaping supply shock — Reuters
Iran's population is ethnically composed of Persians (61%), Azerbaijanis (16%), Kurds (10%), Lurs (6%), Baloch (2%), and other groups (5%), with ethnic minorities often concentrated in border regions that could face disproportionate displacement in conflicts targeting those areas.
Iran Demographics 2026 (Population, Age, Sex, Trends) — Worldometers
The US defense budget for fiscal year 2026 is approximately $839 billion, making the $11 billion war cost in the first week equivalent to about 1.3% of the annual total.
Congress Approves FY 2026 Defense Appropriations Bill — US Senate Committee on Appropriations
📰 Source Timeline (18)
Follow how coverage of this story developed over time
March 12, 2026
2:34 PM
Iran's new supreme leader vows revenge on U.S., Israel
New information:
- This is Mojtaba Khamenei’s first public message as supreme leader, delivered via a statement read on Iranian state TV, in which he vows that Iran will ‘avenge the blood of the martyrs’ and take revenge for ongoing U.S. and Israeli attacks.
- He explicitly warns that attacks on U.S. military bases in the region will continue if those bases are not shut down and ties Iran’s continued closure of the Strait of Hormuz to maintaining ‘leverage.’
- Khamenei publicly thanks Hezbollah, Iraqi militias and the Houthis as part of the ‘axis of resistance,’ and signals that Iran is considering opening ‘new fronts’ where the enemy is ‘highly vulnerable,’ foreshadowing deeper Houthi involvement.
- He tells Gulf governments that Iran is striking only U.S. bases on their soil, not the countries themselves, but demands they close U.S. bases ‘as soon as possible’ or risk further strikes.
- Khamenei states that after the war Iran will demand compensation from the U.S. and Israel and threatens that if they refuse, Iran will seize or destroy property of ‘equivalent value.’
- Israeli officials tell Axios that Mojtaba Khamenei was wounded but survived the opening‑day strike that killed his father, mother, wife and daughter; he has not appeared in public since.
2:00 PM
Iran's supreme leader says closure of Strait of Hormuz should be used as leverage
New information:
- Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, in his first statement since his appointment (read on state TV), said the leverage of closing the Strait of Hormuz 'should be used' and that Iran’s attacks on Gulf Arab neighbors will continue.
- The article reports that traffic through the Strait of Hormuz is effectively stopped, with Brent crude up more than 9% on the day to above $100 a barrel and roughly 38% higher than when the war began, after intraday swings near $120.
- Iranian President Masoud Pezeshkian publicly suggested that ending the war would require recognizing Iran’s 'legitimate rights,' paying reparations, and offering security guarantees against future attacks.
- Iran’s parliamentary speaker Mohammad Bagher Qalibaf warned that any U.S. attempt to seize Iranian islands, amid speculation about a possible strike on Kharg Island, would 'make the Persian Gulf run with the blood of invaders.'
- The U.N. refugee agency estimates up to 3.2 million people are internally displaced in Iran and at least 759,000 in Lebanon as a result of the war.
- The article notes that Khamenei did not appear on camera and cites an Israeli assessment that he was wounded in the war’s opening salvo, explaining why his statement was read by an anchor.
1:36 PM
Iran hits tankers and Gulf nations as U.S., Israel continue attacks
New information:
- CBS piece explicitly frames Iranian actions as attacks on multiple tankers near Iranian territory and strikes on oil facilities in nearby Gulf countries, rather than the broader multi-country barrages and mine‑laying highlighted in the existing story.
- Segment reiterates that, according to lawmakers briefed by the Pentagon, the Iran war cost more than $11 billion in its first week, tying front-line battlefield reporting directly to the early cost figure.
- Provides an updated on‑the‑ground TV correspondent account (Charlie D’Agata) that confirms continued U.S. and Israeli air and missile strikes across Iran at the same time as Iranian attacks on shipping and energy infrastructure.
1:27 PM
Iran unleashes massive attacks on Day 13 of war
New information:
- On Day 13 of the war, Iran launched what CBS describes as massive attacks bombarding Dubai, Kuwait, Oman and Saudi Arabia.
- The same barrage also targeted ships, adding to earlier Iranian strikes on maritime traffic.
- CBS highlights that these Day‑13 attacks further alarmed global investors already worried about soaring oil prices.
11:33 AM
Iran's unrelenting attacks on Mideast shipping and energy infrastructure send oil prices up again
New information:
- Details that Iran has just hit a container ship off Dubai, sparked a blaze near Bahrain’s international airport, attacked a major Saudi oil field with a drone, and struck Iraq’s port of Basra, forcing Iraq to halt operations at all its oil terminals.
- Confirmation that tanker and other traffic through the Strait of Hormuz is effectively stopped, with Brent crude up another 9% to above $100 a barrel and about 38% higher than before the war started on Feb. 28.
- Report that Iran is ignoring a U.N. Security Council resolution passed the previous day demanding it halt strikes on Gulf neighbors, with fresh attacks also reported in Kuwait and the UAE.
- New war-aims rhetoric: Iranian President Masoud Pezeshkian posts that ending the war would require recognition of Iran’s “legitimate rights,” reparations and guarantees against future attacks; Iran’s parliamentary speaker warns any attempt to seize Iranian islands would “make the Persian Gulf run with the blood of invaders” and says “the blood of American soldiers is Trump’s personal responsibility.”
- ABC cites the U.N. refugee agency as saying up to 3.2 million people in Iran have been displaced, largely from Tehran and major cities to the north and rural areas.
- Update on the regional military exchange: sirens and intercepts over Jerusalem, another missile attack on the city later in the day, and roughly 200 Hezbollah rockets fired into northern and deeper areas of Israel, with Israel responding with a ‘wide-scale wave of strikes’ on Tehran and Lebanon that killed 11 people in two early-morning strikes.
10:07 AM
Iran issues statement purported to be from new leader as war with U.S. and Israel rages
New information:
- Iranian state media aired what it claims is the first statement by new Supreme Leader Mojtaba Khamenei since his father’s death, though it was read by another voice and its authenticity is not independently confirmed.
- The statement vows to avenge Iranian 'martyrs,' explicitly references the March 1 Minab girls’ school strike, calls for the Strait of Hormuz to remain closed, and says Iran will continue targeting U.S. bases while claiming friendship with neighbors.
- An unnamed Israeli official told NPR that Mojtaba Khamenei was lightly wounded earlier in the war.
- Iraq reported the first oil‑related strikes in its own waters: two tankers hit near Basra’s port approaches, with Iran claiming responsibility for one U.S.-owned vessel, at least one person killed, and 38 crew rescued.
- The U.S. confirmed it will release 172 million barrels from the Strategic Petroleum Reserve as part of a coordinated 400‑million‑barrel IEA emergency release over about four months, and President Trump publicly framed the price spike as temporary.
- GasBuddy data put the average U.S. price for regular gasoline at about $3.61 per gallon at the time of the announcement.
9:00 AM
Iranian oil squeeze tests Trump's war plans
New information:
- Axios confirms that Trump is actively ‘discussing plans’ to supply naval escorts to tankers and to arrange insurance coverage for vessels transiting the Strait, and portrays these as key tools to unlock supplies the White House insists are ‘plenty’ but hard to get ‘on the market.’
- It ties these naval and insurance measures explicitly to Trump’s political concerns over gasoline prices and midterm risks, rather than presenting them purely as maritime‑security decisions.
- The piece uses the fresh example of two tankers attacked in the Persian Gulf, including a viral blaze in Iraqi waters captured on video and verified by Reuters stills, to underline how shipping threats are evolving and how imagery is driving public and market anxiety.
1:27 AM
Calls grow for Strait of Hormuz ship escorts as Iran escalates attacks
New information:
- Eurasia Group now assesses there is “growing momentum to establish a naval protection system” in the Strait of Hormuz, with a deliberate escort plan likely taking until late March or early April to fully set up.
- U.S. Central Command warns that Iran is using civilian ports along the Strait to conduct military operations that threaten international shipping and has reported at least five cargo vessels hit in the region on Wednesday.
- Officials say at least four seafarers were killed after two missiles struck a UAE‑flagged tugboat that had been assisting a stranded container ship north of Oman in the Strait.
- The U.S. military on Tuesday destroyed 16 Iranian mine‑laying naval vessels amid concerns Tehran is preparing to deploy mines in the waterway.
- White House press secretary Karoline Leavitt clarified that the U.S. Navy has not yet escorted a tanker, correcting an inaccurate post from Energy Secretary Chris Wright’s X account that briefly claimed a successful escort and temporarily pushed oil prices down.
- A Department of Energy spokesperson says Trump, Wright and other officials are closely monitoring the situation, consulting industry, and having the military draw up additional options including potential Navy escorts to keep the Strait open.
- Maritime expert Capt. Kees Buckens estimates about 20,000 seafarers are currently working on ships in the Persian Gulf, describing them as effectively stuck in a war zone and highlighting the human risk to crews.
March 11, 2026
10:55 PM
Iran targets ships in Strait of Hormuz, raising global energy fears
New information:
- PBS reports that Iranian missiles struck three cargo ships on Wednesday, including one manned by the Thai navy, near the Strait of Hormuz, and that maritime groups say Iran has now struck at least a dozen vessels there, effectively halting tanker traffic.
- The segment confirms that the International Energy Agency has ordered an unprecedented release of 400 million barrels from emergency stocks, described as roughly 20 days’ worth of the strait’s normal exports and the largest such draw in history.
- Iranian military spokesperson Lt. Col. Ebrahim Zolfaghari is quoted vowing that Iran will not allow ‘even a single liter of oil’ through the Strait of Hormuz for the benefit of the U.S., Israel (‘the Zionists’) or their partners, and declaring any vessel whose ship or oil cargo belongs to them a legitimate target.
- President Trump, speaking to reporters after leaving the White House, reiterates his Axios claim that there is ‘practically nothing left to target’ in Iran and asserts that Iran has lost its navy, air force, radar, anti‑aircraft defenses, and its leaders.
- The piece cites a new Israeli intelligence assessment that Iran’s newly installed supreme leader, Mojtaba Khamenei, was lightly wounded at the start of the war, while Israel’s defense minister vows to continue operations ‘day after day’ to ‘crush this regime.’
12:39 PM
Live Updates: Japan and Germany to Release Oil as War in Iran Threatens Global Supply
New information:
- Total count of attacked ships in the Strait of Hormuz, Persian Gulf and Gulf of Oman since Feb. 28 is now 13, per UK Maritime Trade Operations.
- Two additional cargo ships reported being hit by unknown projectiles in the region on March 11, and a third ship was hit about 50 miles northwest of Dubai.
- Japan, Germany and Austria will release oil from their strategic reserves in response to Middle East supply disruptions.
- G7 leaders are meeting to discuss a possible joint oil release with the International Energy Agency.
- The conflict death toll has risen to more than 1,800 people, mostly in Iran.
- The U.S. national average gasoline price has climbed to $3.58 per gallon after 11 consecutive days of increases.
11:59 AM
Iran attacks more ships, Dubai airport, warns U.S.-linked banks are next
New information:
- Suspected Iranian drones hit at least three additional ships in and around the Strait of Hormuz overnight, further paralyzing traffic.
- Drones hit Dubai International Airport overnight, wounding four people; the UAE says it intercepted other Iranian drones and missiles.
- Iran is now warning it will begin targeting U.S.-linked banks across the Middle East.
- The Pentagon reiterates that the U.S. has destroyed 16 Iranian mine‑laying boats near the Strait and confirms about 140 U.S. service members wounded in the first 10 days of the war.
- Defense Secretary Pete Hegseth publicly claims the U.S. and Israel are ‘winning’ the war and ‘rapidly meeting their objectives.’
9:45 AM
U.S. attacks Iranian mine-laying vessels near Hormuz on Day 12 of war
New information:
- Confirms Pentagon’s statement that roughly 140 U.S. soldiers have been injured in the Iran war, with eight classified as severely injured and the rest described as minor; places these injuries mainly at U.S. bases in countries neighboring Iran.
- Provides updated regional civilian death tolls attributed to the conflict: more than 1,200 killed in Iran, 570 in Lebanon, and 12 in Israel, according to Iranian, Lebanese and Israeli authorities.
- Adds that Saudi Arabia’s defense ministry intercepted and destroyed six ballistic missiles aimed at Prince Sultan Air Base (which hosts U.S. troops) and downed drones headed toward the kingdom’s eastern region.
- Reports that Kuwait’s National Guard says it downed eight drones and has gone on high alert in coordination with its army, police and other agencies.
- Details a new UKMTO report of a commercial cargo vessel struck by an unidentified projectile while crossing the Strait of Hormuz, sparking a fire and forcing crew evacuation.
- Notes Dubai authorities say two drones fell near Dubai International Airport on Wednesday, injuring four people, while air traffic continued as normal; UKMTO also reports a vessel hit by an unknown projectile northwest of Dubai with crew safe.
- Quotes new public threats from President Trump on Truth Social warning Iran to remove any mines ‘IMMEDIATELY’ from the Strait of Hormuz and promising ‘Military consequences … at a level never seen before’ if they are not removed.
- Adds Defense Secretary Pete Hegseth’s statement that the U.S. will not allow ‘terrorists’ to hold the strait hostage, explicitly tying U.S. naval actions to keeping the waterway open.
March 10, 2026
10:55 PM
As Iran shows no signs of surrender, U.S. launches 'most intense' day of strikes
New information:
- Trump issues a new Truth Social post explicitly warning that if mines are placed in the Strait of Hormuz and not removed, the 'military consequences to Iran will be at a level never seen before.'
- PBS frames the mine‑related strikes as part of the 'most intense day of strikes' inside Iran, indicating an escalation in both tempo and targeting tied to Hormuz threats, not just isolated maritime hits.
9:38 PM
U.S. destroys 16 Iranian vessels amid worries of mines in Strait of Hormuz
New information:
- U.S. Central Command publicly stated on X that 16 Iranian mine‑laying naval vessels were 'eliminated,' updating Trump’s earlier claim of 10 destroyed.
- A senior U.S. official told Axios the strike targeted inactive mine‑laying ships as a preemptive move based on intelligence that Iran was preparing to deploy mines in the Strait of Hormuz.
- President Trump posted that the U.S. has 'no reports that mines were placed in the waterway,' even as he threatened 'military consequences' at a level 'never seen before' if Iran were to mine the Strait.
- Trump said the U.S. is using the same technology and missile capabilities previously deployed against drug traffickers to 'permanently eliminate any boat or ship attempting to mine the Hormuz Strait.'
- Axios cites CNN reporting that Iran has in fact started laying mines in the Strait, but 'not extensive,' underscoring conflicting accounts between U.S. intelligence, public statements and media reporting.
8:42 PM
Iran signaling it may deploy mines to disrupt Strait of Hormuz, U.S. sources say
New information:
- U.S. officials tell CBS, on background, that Iran is preparing to deploy naval mines in the Strait of Hormuz using small craft that can carry two to three mines each.
- Estimates cited in the piece say Iran’s stockpile of naval mines is thought to be in the 2,000–6,000 range, mainly produced by Iran, China, or Russia.
- President Trump posted on Truth Social that if Iran has placed mines they must be removed 'IMMEDIATELY,' warning that failure to do so would bring 'military consequences…at a level never seen before.'
- Minutes later, Trump claimed the U.S. had 'completely destroyed' 10 inactive mine‑laying boats and/or ships, with more to follow.
- Gen. Dan Caine said in a Pentagon briefing that CENTCOM is actively hunting and striking 'mine‑laying vessels' and 'mine storage facilities.'
- CNN is separately reporting that Iran has already begun laying mines in the strait, a claim not independently confirmed in this CBS piece.
- Major maritime insurers (NorthStandard, London P&I Club, American Club) have warned they will suspend coverage for ships operating in Iranian waters and parts of the Gulf due to rising conflict risk.
2:12 PM
Iran war, 11 days in: US controls skies, oil surges and the region braces for what’s next
New information:
- The Fox article reinforces that U.S. officials see oil prices rising alongside the conflict, explicitly tying the claimed U.S.–Israeli air dominance and expanded target sets to continued energy‑market volatility.
- It adds fresh Pentagon‑level rhetoric about the trajectory of the air war—'complete control' and 'total air dominance' over Iranian airspace—that helps explain why some analysts expect further strikes, and thus more pressure on global oil flows, rather than a rapid de‑escalation.
1:49 PM
Iranian barrages target Israel and Gulf countries as Hegseth warns Iran of 'most intense day of strikes'
New information:
- The article details specific new Iranian attacks on Bahrain, Saudi Arabia, Kuwait and the UAE, including the first reported fatality in Bahrain from this round of barrages and a drone strike‑induced fire in the UAE’s Ruwais industrial zone.
- It reports that sirens sounded in Jerusalem and explosions were heard in Tel Aviv as Israeli defenses intercepted incoming Iranian barrages, confirming ongoing direct Iran‑Israel exchanges.
- On the U.S. side, Defense Secretary Hegseth publicly promises the 'most intense day of strikes inside Iran' to date, and Gen. Dan Caine cites more than 5,000 targets hit with clearly articulated goals to degrade missiles, secure Hormuz shipping and strike Iran’s military‑industrial base.