In a dramatic escalation of Middle East tensions, Iran has declared an absolute blockade on all Gulf oil exports for the duration of its ongoing conflict with the United States and Israel. The Islamic Revolutionary Guard Corps (IRGC) issued a stark warning that “not a single litre of oil” would leave the region until further notice, directly challenging President Donald Trump’s assertion that the conflict was nearing its conclusion.
The confrontation has triggered significant volatility in global energy markets, with oil prices briefly surging past $100 per barrel before retreating following Trump’s optimistic statements. European gas markets opened 15% lower after the president’s comments, while Asian stock markets showed tentative recovery from Monday’s substantial losses.
Iranian Foreign Minister Abbas Araghchi explicitly ruled out further diplomatic engagement with Washington, citing previous attacks during ongoing negotiations. “We are well prepared to continue attacking them with our missiles as long as needed,” Araghchi stated in an interview with PBS News, emphasizing Tehran’s determination to continue military operations.
President Trump responded with characteristically forceful language, warning on his social media platform that continued Iranian interference with oil exports would trigger devastating retaliatory strikes that would make reconstruction “virtually impossible.” His remarks alternated between claiming victory and threatening “Death, Fire, and Fury” upon Iran.
The conflict has drawn in regional and global powers, with Egypt implementing fuel price increases up to 30%, Pakistan offering naval escorts for commercial shipping, and NATO deploying Patriot missile systems to Turkey after ballistic missile incidents. France announced plans for a “purely defensive” mission to reopen the strategic Strait of Hormuz, through which approximately 20% of global crude oil typically transits.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu expressed hope that military pressure would inspire the Iranian people to “cast off the yoke of tyranny,” as fighting spread to Lebanon and northern Iraq, where Tehran-backed militias reported casualties from aerial bombardments.