Iran’s Parliament Speaker Mohammad Bagher Ghalibaf has warned that global crude oil prices could climb to $140 per barrel as tensions surrounding Iranian exports continue to escalate. He sharply criticised Washington’s strategy, arguing that attempts to pressure Iran through restrictions on oil movement are backfiring. According to his remarks, instead of stabilising markets, such policies are driving uncertainty and pushing prices higher, raising concerns across global energy markets already reacting to geopolitical risks.
In a strongly worded message, Ghalibaf mocked claims that limiting Iran’s oil exports could damage its infrastructure, insisting that such assumptions were based on flawed analysis. He pointed out that despite several days of heightened tensions and operational pressure, no significant damage had occurred to Iranian oil facilities. This response directly challenged warnings issued by Donald Trump, who had suggested that blocked oil flows could lead to internal pipeline failures and irreversible damage.
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Furthermore, Ghalibaf criticised Scott Bessent, blaming what he described as poor policy advice for escalating the situation. He argued that strategies aimed at manipulating oil supply to control prices were misguided and counterproductive. By highlighting recent price movements, he claimed that such approaches had already pushed crude above $120 per barrel, reinforcing his prediction that the next target could reach $140 if tensions persist.
Meanwhile, recent developments in global oil markets appear to reflect growing uncertainty, as prices have surged sharply in response to geopolitical developments. International benchmarks have recorded significant gains, with Brent crude rising close to $126 and US crude crossing $110 in recent trading sessions. Analysts link this upward trend to ongoing tensions, including restrictions on transit routes and concerns over supply disruptions linked to the Strait of Hormuz, a critical corridor for global oil shipments.
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In addition, the situation has begun to affect major industries, particularly aviation, where rising fuel costs are creating long-term financial concerns. Executives at leading airlines have started planning for even higher oil prices, with some projections suggesting crude could reach extreme levels if the crisis continues. These expectations indicate that market players are increasingly factoring geopolitical instability into their forecasts, which could reshape pricing trends in the coming years.
As tensions remain unresolved, the broader strategy of restricting Iranian oil exports continues to draw criticism from various quarters, with experts questioning its effectiveness and long-term impact. Ghalibaf’s remarks reflect a wider debate over whether such measures can achieve desired outcomes or simply intensify economic pressures globally. Consequently, energy markets are likely to remain volatile, while policymakers face mounting challenges in balancing geopolitical objectives with economic stability.