Iran warns Trump's blockade is 'doomed to fail' as oil prices soar to 4-year high
Iran's President Masoud Pezeshkian warned that the US naval blockade is 'doomed to fail' as energy prices soared to their highest point in years due to the standoff over the Strait of Hormuz. The international benchmark price for oil, Brent crude, rose to over $126 a barrel, the highest since 2022.
Iran's President Masoud Pezeshkian stated that the US naval blockade is 'doomed to fail'. The blockade was imposed by the US in response to Iran's attack on shipping after the US and Israel launched a joint assault in late February. The standoff over the Strait of Hormuz has caused energy prices to soar, with Brent crude rising to over $126 a barrel. US gas prices averaged $4.30 a gallon, the highest level in nearly four years. The US military is considering plans for potential military action to break the deadlock, including a wave of 'short and powerful' strikes. The situation has rattled the global economy, with the International Energy Agency head Fatih Birol warning of a 'major economic and energy challenge'.
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