The US-Iran War, Day 12: IEA deliberates releasing a record 400 million barrels of emergency oil reserves; Tehran strikes three more vessels in the Strait of Hormuz, warns the world to prepare for oil prices to hit USD 200 million; Israel does not foresee a regime change or immediate end to the war, Reuters cites senior military officials

On 11 March, the International Energy Agency stated that it proposed releasing 400 million barrels per day from strategic oil reserves, adding that 32 member countries had unanimously agreed to make emergency reserves available to the market. Japan's Ministry of Economy, Trade and Industry also revealed plans to release around 80 million barrels from its private and national oil reserves.

On the same day, three more vessels were hit ​by unknown projectiles in the Strait of Hormuz as Iran's Revolutionary Guard Corps warned that any ship passing through the Strait would be targeted. The IRGC statement highlighted that the ship was "fired upon by Iranian fighters," suggesting the first direct engagement by the Guards, who have previously fired missiles or drones. Iran's military spokesperson, Zolfaqari, later warned the world to "Get ready ​for oil be $200 a barrel, because the oil price depends on regional security which you have destabilised."

Reuters also reported that Israel was uncertain that the war would lead to regime change and that "Washington is not close to instructing an end to the conflict." The report cites senior Israeli officials. Israel's Foreign Minister Gideon Saar stated that the war would continue until Tel Aviv and Washington determined the time had come to end hostilities, but that Israel did not seek "endless war."