Iran Warns of $140 Oil as Trump Holds Hormuz Blockade

Oil prices could spike to $140 per barrel as the U. S. is keeping its blockade outside the Strait of Hormuz, Iran says and signals it won’t open the chokepoint to free traffic and won’t return to negotiations unless the American blockade is lifted. The U. S.

Administration is getting “junk advice” from people like [Treasury Secretary] Bessent “who also push the blockade theory and cranked oil up to $120+. Next stop:140,” Mohammad Bagher Ghalibaf, the Speaker of Iran’s Parliament, says. He also teased U. S.