The U.S. Energy Information Administration (EIA), under the U.S. Department of Energy (DoE), has released their first "Short Term Energy Outlook amid Middle East Conflict". It forecasts the price of crude oil will remain above $95/barrel for the next two months before falling to near $80 by the 3rd quarter of 2026 and $70/barrel by the end of the year.

According to a release from the U.S. Department of Energy (DOE), as a part of the multilateral effort to release 400 million barrels of oil to stabilize the market, President Donald J. Trump has authorized the DOE to release 172 million barrels of oil from the Strategic Petroleum Reserve (SPR), beginning next week. According to the release, it will take approximately 120 days to deliver.

Multiple large fires are continuing to spread throughout Oman’s MINA Petroleum Facility at the Port of Salalah, following Wednesday’s drone strikes against the port and nearby infrastructure by Iran.

Chances that normal shipping traffic returns to the Strait of Hormuz by the end of April has plummeted in the last 48 hours, down over 30% currently sitting at around 44%, following a number of strikes by Iran on cargo vessels and oil tankers near the Strait, as well as an attack overnight on two tankers off the coast of Iraq.

This is an over 40% reduction in the current supply of crude oil held by the U.S. Strategic Petroleum Reserve (SPR).

Asked by reporters about oil prices and the Strait of Hormuz upon returning to Joint Base Andrews from tonight’s rally in Kentucky, President Donald J. Trump stated: “The Straits are in great shape. We’ve knocked out all of their boats. They have some missiles, but not very many. I think we’re in very good shape.”

The Saudi Ministry of Defense reports that an Iranian one-way attack drone was downed earlier approaching the Diplomatic Quarter in Riyadh.

Reporter: “If Iran tries to hit us back, have you been briefed about how many Iran sleeper cells there could be inside the U.S. right now?”

President Trump: “I have been and a lot of people came in through Biden with his stupid open border. But we know where most of them are. We've got our eye on all of them, I think.”

Crude Oil WTI is pumping, currently at around $95 per barrel and rising.

Iraqi firefighters and port authorities have managed to control and extinguish the fire onboard two oil tankers targeted earlier tonight off the coast of Basra, identified as the Marshall Islands-flagged M/T SAFESEA VISHNU and Malta-flagged M/T ZEFYROS, who were struck by a possible Iranian uncrewed surface vessel while conducting a ship-to-ship transfer within the territorial waters of Iraq.

Crazy footage obtained Wednesday from outside RAF Fairford in Gloucestershire, England, showing ground crewmembers with the U.S. Air Force, in full view of the public, unloading missile delivery systems from and loading GBU-31 2,000lb Joint Direct Attack Munitions (JDAM) onto B-1B “Lancer” Long-Range Heavy Bombers for future strikes against Iran.

Video credit: @richardgaisford

U.S. intelligence indicates that Iran's leadership is still largely intact and is not at risk of collapse any time soon, after nearly two weeks of relentless bombardment by Israel and the United States, according to three sources familiar with the matter who spoke to Reuters.

The UK Office of Maritime Trade Operations (UKMTO) is reporting an attack on a container ship in the Persian Gulf, 35NM north of Jebel Ali in the United Arab Emirates, with the ship’s Master telling the UKMTO that the vessel was stuck by an unknown projectile causing a small fire onboard. All crew reported as safe.

A U.S. Navy F/A-18F Super Hornet with the “Blacklions” of Strike Fighter Squadron 213 (VFA-213), assigned to Carrier Air Wing Eight (CVW-8) onboard the USS Gerald R. Ford (CVN-78), receives fuel from a U.S. Air Force KC-135R Stratotanker over the Middle East in support of Operation Epic Fury, March 8, 2026.

The Head of Russia’s Direct Investment Fund, Kirill Dmitriev, left Miami, Florida, today following talks with U.S. Special Envoy to the Middle East Steve Witkoff and envoy Jared Kushner, according to the Kremlin Press Service. The talks were largely centered on increased economic cooperation, as reports abound that the Trump Administration is mulling a potential walk back of sanctions on Russian oil exports due to the ongoing conflict in the Middle East.