Crude Oil and Silver Surge 2%, Trump Says U.S. Military Action Against Iran Won't End This Week

MaticHoleFiller · 2026-03-22T20:55:13+00:00

On March 17, spot silver rose 2.06%, and international oil prices surged over 3%. U.S. President Trump indicated that military operations against Iran could continue for some time, hinting that attacks on Iranian oil facilities would trigger a strong counterattack.

MaticHoleFiller

2026-03-22 20:55:13

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On March 17, Beijing time, spot silver prices surged up to 2.24% intraday, and international oil prices rose over 3% at one point.

As of 13:00, spot silver was at $82.393 per ounce, up 2.06% for the day; spot gold was at $5,037.791 per ounce, up 0.68% for the day.

Regarding international oil prices, both Brent crude and WTI crude increased over 2% intraday, with a rise of more than 3% earlier in the morning.

In the news, according to CCTV News, U.S. President Trump said at the White House on the afternoon of March 16 that he believes U.S. military actions against Iran will not end this week.

When asked by the media, Trump stated that the end of this military operation “won’t be that quick, but it certainly won’t take long,” and “soon, this war will be over.”

He also said he will soon announce which countries have agreed to escort ships passing through the Strait of Hormuz. Previously, he complained that U.S. European allies were unwilling to “lend a hand” in the escort operations.

Trump previously indicated that military actions against Iran could last four weeks or longer. U.S. Secretary of Defense Lloyd Austin, however, refused to specify a timeline for the mission.

According to CCTV International News, on March 16, Eastern Time, President Trump stated that “the pipeline on Halek Island in Iran will eventually have issues”—implying that U.S. forces may attack Iran’s oil infrastructure on this important oil-exporting island. Earlier, an Iranian military spokesperson warned that if the U.S. commits any invasion or attack on Halek Island and its oil facilities, Iran’s response will be decisive and forceful. In such a case, all countries initiating attacks on Halek Island will face strong retaliatory strikes on their oil and natural gas facilities.

(Note: The content of this article is for reference only and does not constitute investment advice. Investors operate at their own risk.)

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