Iran Mocks US Operation Epic Fury as Epic Mistake as Global Oil Prices Surge
Iran’s Foreign Minister Seyed Abbas Araghchi has mocked the United States military operation against Iran, dubbed Operation Epic Fury, calling it instead “Operation Epic Mistake” due to its impact on surging global oil prices.
In a statement on social media, Araghchi accused Washington of planning attacks on Iran’s oil and nuclear facilities. He asserted that Tehran was prepared for any eventuality.
“Nine days after the commencement of Operation Epic Mistake, oil prices have doubled whilst various commodity prices have also surged,” Araghchi stated via a post on X.
“We know the United States is planning action against our oil and nuclear facilities in hopes of dampening global inflation. Iran is fully prepared, and we also have many surprises,” he added.
Araghchi’s statement emerged amid escalating tensions between Iran and the United States. Both parties have continued to level accusations and warnings as military and economic pressure intensified.
The conflict’s impact is already being felt in global energy markets. Brent crude oil prices surged more than 25% at the start of this week, reaching approximately US$116.50 per barrel. Oil prices even briefly touched US$119.45 per barrel, reflecting growing market concerns about energy supply stability amid regional geopolitical tensions.
Several analysts have warned that if the conflict continues to escalate and supply disruptions persist, oil prices could become increasingly volatile and potentially approach US$150 per barrel in the near future.
Indonesia’s Finance Minister Purbaya Yudhi Sadewa has indicated that the average price of Indonesian crude oil remains below the assumptions set in the 2026 state budget. The government is considering a gradual fuel price adjustment scheme to manage pressures from surging global oil prices.
The Indonesian Composite Index fell sharply by 2.65% on 2 March 2026 due to the escalating US-Iran conflict, which triggered surges in oil and gold prices. The intensifying conflict between Iran, Israel, and the United States has transcended political issues and entered the global economic sphere.