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Iran rejects US blockade as gulf tensions push oil prices higher

Published on: May 1, 2026 2:59 PM

Iran's supreme leader defies US blockade as oil prices soar

Iran’s leadership has strongly rejected US pressure over a reported naval blockade of its ports, as escalating tensions in the Gulf region pushed global oil prices to their highest level in years.

Read More: Trump weighs prolonged Iran blockade as tensions escalate sharply

In a statement broadcast on Iranian state television, Supreme Leader Ayatollah Ali Khamenei said the United States had suffered a “shameful defeat” in its regional strategy and claimed that Iran now held the upper hand in the ongoing crisis. He said a “new chapter” was unfolding in the Persian Gulf and the Strait of Hormuz following recent military developments.

Khamenei’s remarks came after US President Donald Trump warned that a US naval blockade of Iranian ports could continue for months as part of efforts to pressure Tehran over its nuclear programme. The blockade, alongside heightened military presence in the region, has further strained global energy markets.

Oil prices surged sharply in response, with Brent crude briefly crossing $126 per barrel before easing later in trading. Analysts say fears of disruption in the Strait of Hormuz, a critical passage for global oil shipments, have intensified market volatility.

Iran has maintained that it will not back down, with officials describing the blockade as an extension of military action. Iranian President Masoud Pezeshkian called the situation “intolerable” and warned that continued pressure would further destabilise the region.

Military rhetoric has also escalated on both sides. Iranian commanders warned of “painful and extensive strikes” in response to any renewed attacks, while Israeli officials suggested further operations could be necessary to meet strategic objectives.

Meanwhile, global institutions including the United Nations and the International Energy Agency have raised concerns about the economic impact, warning that disruption in the Strait of Hormuz could deepen a global energy crisis.

Read More: US Blockade Disrupts Iran Trade at Chabahar Port

Diplomatic efforts remain uncertain as Washington pushes for broader negotiations that include Iran’s nuclear programme, while Tehran has signaled conditional openness tied to easing of sanctions and blockades.

Filed Under: Top Stories, World Tagged With: global energy crisis, Iran, Latest, Middle East Tensions, oil prices, Strait of Hormuz, US Iran conflict

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