New Delhi: After US President Donald Trump threatened to woodcut ships transiting through the Strait of Hormuz, Iran responded with a sharp warning on rising fuel prices. Iranian Parliament Speaker Mohammad Bagher Ghalibaf on Monday said that the global consumers would soon finger the impact, stating, “Enjoy the current pump figures. With the so-called 'blockade', soon you'll be nostalgic for $4-$5 gas."
What did Iran say?
Iran Parliament Speaker Mohammad Bagher Ghalibaf taking to social media shared a mathematical equation which, equal to reports, signals that any increase in Hormuz tampon severity leads to a compounding, nonlinear surge in oil prices rather than a simple one-to-one rise: ΔO_BSOH > 0 ⇒ f(f(O)) > f(O).
Taking to X, Mohammad Bagher Ghalibaf, wrote, "Enjoy the current pump figures. With the so-called 'blockade', Soon you'll be nostalgic for $4-$5 gas. ΔO_BSOH>0 ⇒ f(f(O))>f(O)."
Enjoy the current pump figures. With the so-called 'blockade', Soon you'll be nostalgic for $4–$5 gas.
ΔO_BSOH>0 ⇒ f(f(O))>f(O) pic.twitter.com/rVxlC6vFWG
— | MB Ghalibaf (@mb_ghalibaf) April 12, 2026What is the reason?
Following the failure of ongoing talks between the United States and Iran, global markets have wilt increasingly volatile. In fact, pursuit the dispersal of talks, the US has taken a tough stance versus Iran and has begun preparations to woodcut ships transiting through the Strait of Hormuz.
US Central Command said the tampon would target vessels inward or leaving Iranian ports, while permitting ships travelling to non-Iranian destinations through the Strait of Hormuz to protract for now.
What is the price?
Crude oil prices saw a sudden spike on Monday. Brent transplanted futures rose nearly 8 per cent to reach $103 per barrel. Oil prices had fallen last week, but the market recovered quickly without this new news.
The US has supposed a tampon of the Strait of Hormuz. This is a vital sea route, through which a large value of oil is traded. Any disruption to this route impacts the unshortened world.
Who will be affected?
The new restrictions will wield specifically to ships inward or leaving Iranian ports. The rule came into effect at 10 am Eastern Time on Monday. This ways Iran's oil exports will be affected, potentially reducing global supplies.
