Ghalibaf Criticizes US Measures as Brent Crude Tops $107

Iranian Parliament Speaker Mohammad Bagher Ghalibaf on Thursday criticized US efforts to address rising oil prices after Brent crude climbed above $107 a barrel. In a post on X, Ghalibaf wrote: "Here is your daily dose of 'forward guidance,' in case you do not hear from your regime authorities: the arsenal they will exhaust and the exact order they will run through it." He said the US Treasury would use a series of measures to try to bring oil prices down, including "false reporting through Axios, market intervention, the release of reserves and other measures," but predicted these would ultimately fail to reverse the increase. "Act like you do not know what comes next," Ghalibaf added, referring to a graph showing the expected trajectory of oil prices.

Oil prices have surged since the US-Israeli war against Iran and the subsequent closure of the Strait of Hormuz by Iran's Armed Forces. The Strait of Hormuz is a critical waterway for global energy markets, normally carrying about one-fifth of the world's oil and liquefied natural gas supplies. Its closure has disrupted global energy flows, contributing to the sharp rise in prices.

The price surge has also affected American consumers. Gasoline prices in the US have reached around $4.28 per gallon, roughly 34 percent higher than a year earlier, highlighting the growing cost of the energy crisis. The motor club reported on Thursday that diesel prices hit $5.98 per gallon, a record high.

Ghalibaf's remarks underscore the ongoing tensions and the economic impact of the conflict. The closure of the Strait of Hormuz by Iran's Armed Forces followed the US-Israeli war against Iran, leading to significant disruptions in global oil and gas supplies. According to Mehr News, the situation continues to affect international markets and consumers worldwide.