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Global Tensions Rise as Iran Defies US Blockade, Oil Prices Spike
Global oil markets react as Iran defies Trump’s blockade, warning it violates international law and threatens regional stability.
A deepening standoff between Iran and the United States is rattling global markets, with oil prices surging and both sides digging in over a controversial naval blockade.
Brent crude has jumped to more than $126 per barrel—its highest level in four years—after the US, under Donald Trump, imposed restrictions on Iranian ports while Iran tightened control of the Strait of Hormuz.
Iranian President Masoud Pezeshkian dismissed the blockade as ineffective and unlawful.
“Any attempt to impose a maritime blockade… is doomed to fail,” he said, warning it would destabilise the Persian Gulf.
The US military, through US Central Command, said it has already blocked dozens of vessels, leaving millions of barrels of Iranian oil stranded.
Meanwhile, Washington is reportedly preparing for a prolonged confrontation, with Trump pushing for measures to force Tehran to abandon its nuclear ambitions.
“They are choking like a stuffed pig,” Trump said, signalling continued pressure.
The standoff is taking a toll on both sides: Iran faces a weakening currency and economic strain, while the US grapples with rising fuel prices and political pressure at home.
Iran has hinted at a possible compromise—loosening its hold on the Strait of Hormuz in exchange for lifting the blockade—but negotiations remain stalled as both sides insist on key demands.
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