Global Oil Markets

A large explosion struck near Ferdowsi Square in central Tehran on March 13, 2026, where thousands had gathered for the state-organized Quds Day rally supporting Palestinians and calling for Israel’s destruction, shortly after Israel used a Farsi-language account on X to warn people to clear the area. Iranian state media and officials reported no immediate casualty figures, but video from the scene showed smoke rising as crowds chanted 'God is greatest,' and senior officials including judiciary chief Gholamhossein Mohseni Ejei and senior security official Ali Larijani were present when the blast occurred. Israel’s military later posted a second message in Farsi referencing Ejei’s attendance and accusing Tehran of cutting off the internet so that most Iranians could not see its warning, highlighting how information blackouts and online psy-ops are becoming part of the battlefield. The incident comes as Iran continues missile and drone attacks on Israel and Gulf states and keeps the Strait of Hormuz effectively closed, while U.S. Defense Secretary Pete Hegseth claims without offering evidence that new Supreme Leader Mojtaba Khamenei is 'wounded and likely disfigured,' even as Brent crude remains above $100 a barrel—about 40% higher than before the war—feeding global economic and political pressure. Online, early footage of the explosion and competing claims over whether Israel adequately warned civilians are already fueling fierce debates over proportionality, targeting of rallies, and the reliability of wartime messaging from all sides.