On March 20th, 2026 President Donald J. Trump declared in Washington, D.C. that the US-Israeli military campaign to subvert Iran is going extremely well. He said it’s coming along “very, very great.” Tensions in the region are increasing at an alarming rate. At the same time, international oil prices are skyrocketing, stealing the spotlight at on global markets.
Yet Trump’s comments do signal an important turning point in the political climate of Iranian leadership. He declared that all Iranian leaders are “all gone,” a call for the total removal of the current regime’s leadership structure. His comments reflect a viewpoint that the White House perceives a lack of viable diplomatic channels to engage with Iran.
As the war goes on, world oil prices have spiked —hard. Analysts expect increasing costs to have far-reaching effects on the global economy. This development will only add pressure to markets that have been highly volatile already. Most countries dependent on imported oil are concerned. So, they are alarmed and wringing their hands that such a modest step will lead to oil prices rising even more.
In his statement, Trump made much of not talking, or negotiating, with Iran. He recently announced that the United States now has “no one else to talk to.” This begets the administration’s thinking that diplomatic efforts are pointless given the present geopolitical situation.
As military operations continue across the region, serious questions remain regarding long-term strategy and feasible solutions to the conflict. As tensions continue to rise, the world is following closely, determining the short-term and long-term effects of these affairs.
