Iran hits oil tankers in the Gulf; Trump insists US already won war
Oil briefly jumps back above $100 a barrel after attacks on tankers in the Persian Gulf. Now the U.S. and its allies prepare a massive release of emergency reserves to steady markets.
Plus, intelligence shows Iran had considered drone attacks on targets in California. Now the western state remains on high alert.
And President Donald Trump takes his beef with Republican Rep. Thomas Massie to the lawmaker’s home turf.
These stories and more highlight your Unbiased Updates for Thursday, March 12, 2026.
Oil briefly tops $100 as tanker attacks and Hormuz shutdown rattle global markets
Oil prices briefly jumped above $100 a barrel Thursday morning following reports of an attack on two oil tankers in the Persian Gulf near Iraq. Now, the U.S. and its allies are preparing a large release of emergency oil reserves to stabilize global markets.
Iran has warned the world to prepare for oil prices to surge even higher, saying they could reach $200 a barrel.
The threat follows Iranian forces attacking merchant ships in the Gulf, while the Strait of Hormuz — one of the world’s most vital oil shipping routes — stays closed.
In response, President Donald Trump has ordered the release of 172 million barrels from the U.S. Strategic Petroleum Reserve. Energy Secretary Christopher Wright said those releases will begin next week and continue for about four months.
The International Energy Agency, a group of 32 countries, mostly U.S. allies, said it will also release oil from its emergency stockpiles, totaling about 400 million barrels.
Meanwhile, Trump continues to assert that the U.S. has already defeated Iran.
“We’ve won. Let me say, we’ve won. You know, you never like to say too early, you won. We won. We won. In the first hour, it was over, but we won,” Trump said.
“We don’t want to leave early, do we, huh? We got to finish the job, right? Over the past 11 days, our military has virtually destroyed Iran.”
The war has also carried a steep price tag for American taxpayers.
Pentagon officials informed senators in a closed-door briefing Tuesday that military operations against Iran cost at least $11.3 billion within the first six days of the conflict.
California boosts security readiness after FBI warns of possible drone attack
California is on high alert after reports that Iran considered retaliating against the United States with drone strikes targeting the state. The FBI warned California law enforcement last month that if the U.S. attacked Iran, Tehran could respond with a surprise drone strike on unspecified targets in the state.
But recent reports suggest that the intense U.S. and Israeli bombardment of Iran over the past 12 days may have disrupted or delayed those plans.
California Gov. Gavin Newsom’s office informed ABC News that the state is aware of the threat and is working with federal, state and local officials to protect communities.
In Los Angeles, law enforcement is operating at an increased level of readiness, with extra patrols around churches and other high-profile locations throughout Los Angeles County.
Security experts say Iran maintains networks in Mexico and South America, raising concerns that drones could potentially be launched from the Pacific or Mexican territory.
Trump targets Rep. Thomas Massie, pushes for Kentucky primary rival
President Donald Trump traveled to northern Kentucky on Wednesday to campaign against Republican Rep. Thomas Massie in his own district. The visit placed the president directly in the middle of a Republican primary fight he has been working to shape for months.
Speaking at a logistics and packaging company in Hebron, Trump attacked the six-term congressman and urged voters in Kentucky’s 4th Congressional District to replace him in the Republican primary.
“I could give him the best things in the history of a Republican voter, and he’d vote no,” Trump said during a speech that lasted more than an hour. “There’s something wrong with him.”
The president also referred to Massie as a “loser,” a “disaster” and “disloyal,” according to the Courier Journal.
Trump also appeared on stage with the candidate he has endorsed in the race, former Navy SEAL and farmer Ed Gallrein, who entered the contest last year. Gallrein thanked the president for his support and accused Massie of failing to represent the district.
The president has prioritized unseating Massie, calling him the “worst Republican congressman in history” in a Truth Social post before the visit and predicting that Massie will lose his next primary.
But Massie isn’t backing down.
In an interview with ABC News, the Kentucky Republican argued that voters in his district are already questioning the economic cost of the war with Iran.
“The first few days, the war was popular, but then, as we saw gasoline and diesel prices go up, people started to talk about, you know, ‘what are the goals?’ ‘How long is this going to go on?'” Massie said.
The May 19 primary has become one of the most closely watched Republican House contests of the 2026 cycle.
Outside groups aligned with Trump have already invested over $5 million in the race, aiming to boost Gallrein and defeat the libertarian-leaning congressman.
The dispute between Trump and Massie has also played out publicly online.
After Trump criticized him again on Truth Social, Massie responded in a post on X referencing the Epstein files transparency law.
“I predict ‘President’ DJT will begrudgingly sign my beautiful Epstein files transparency act, causing beleaguered princes, ambassadors and CEOs around the world to be arrested or resign in total shame,” Massie said.
Massie has faced primary challenges before and won comfortably. This year’s race is shaping up as his toughest since entering Congress, with Trump personally backing a challenger and outside groups pouring millions into the contest.
Gracie Mansion protest suspects scouted sites for ISIS‑inspired attacks: ABC
The two Pennsylvania teens accused of trying to carry out an ISIS-inspired attack at the New York City mayor’s mansion might have been contemplating other targets first, according to a new report from ABC News.
Law enforcement sources told the outlet that evidence indicates 18-year-old Emir Balat and 19-year-old Ibrahim Kayumi had been planning an attack for some time before throwing IEDs outside Gracie Mansion during a protest over the weekend.
Investigators who searched a storage unit in the teens’ hometown reportedly found a notebook containing details about soft targets, such as shopping centers. However, no specific locations were named.
A new video also appears to show Balat at a Phantom Fireworks store in Pennel, Pennsylvania, on March 2. The company’s vice president told ABC in an email that Balat purchased a 20-foot length of consumer fireworks safety fuse.
Balat and Kayumi are currently held on multiple charges, including counts of terrorism and use of a weapon of mass destruction.
They have not yet entered a plea.
US launches new trade probes, targeting foreign factory overcapacity
The Trump administration is quickly working to rebuild its tariff strategy after last month’s Supreme Court ruling invalidated some of the president’s earlier trade duties.
The administration has initiated a series of new Section 301 trade investigations aimed at addressing what it calls “structural excess capacity.” That’s when countries build far more factory output than global demand can absorb — a practice U.S. officials say can flood markets, undercut prices and squeeze American manufacturers.
More than a dozen countries are currently under review, including some of the U.S.’s largest trading partners: China, the European Union, Mexico, Japan, India, South Korea and Taiwan.
The process begins with a public comment period and a hearing set for May 5.
Trade officials want the investigations finished before a temporary 10% global tariff — imposed under a different trade law — expires in July.
The administration says another trade probe could launch as soon as Thursday, focusing on whether countries are doing enough to prevent imports linked to forced labor.
NASA’s Van Allen probe burns up after 14 years in orbit
A NASA spacecraft that spent years flying through one of Earth’s most hazardous regions has finally returned home. The Van Allen probe re-entered the atmosphere Wednesday, nearly 14 years after launch.
NASA launched the satellite in 2012 to study Earth’s radiation belts, which are rings of supercharged particles trapped by our planet’s magnetic field. Most spacecraft avoid that region because the radiation can destroy electronics.
But the Van Allen probes flew straight through it for years, gathering the most detailed data ever on how those belts behave and even discovering a temporary third radiation belt during periods of intense solar activity.
NASA originally expected the probe to remain in orbit until 2034. However, the current solar cycle has increased atmospheric drag, pulling it back to Earth much earlier.
Most of the 1,300-pound spacecraft burned up during re-entry over the Pacific.
Its twin probe remains in orbit, though it’s expected to re-enter Earth’s atmosphere within the next decade.
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