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Iran warns US interference could spur further oil and gas disruptions
Iran’s IRGC said the Strait of Hormuz would not see regular shipping traffic unless US military interventions in the chokepoint end.
OilPrice reports that Iran’s Islamic Revolutionary Guard Corps warned that continued US interference in the Strait of Hormuz “could lead to greater incidents in the global oil and gas sector,” amid renewed tensions over the chokepoint.
The renewed hostilities began last week with US military strikes on Iran, which followed Iranian attacks on commercial vessels in the Strait of Hormuz, according to the outlet. Over the weekend, the conflict escalated with another round of US strikes and Iran’s claim that the chokepoint is once again closed.
In a statement carried by Reuters, the IRGC said ending US military interventions in the Strait of Hormuz is the only way to restore regular shipping traffic. OilPrice also notes that Iran’s top negotiator, Mohammad Baqer Qalibaf, wrote on X that the US era of one-sided deals is over and that Iran had warned the US to keep its word.
The outlet said markets have been trying to assess whether Hormuz traffic is passable safely, with pricing shifting toward renewed disruption. It added that early Monday moves included higher oil prices, lower equities, and falling government bond yields as traders weighed the risk that longer disruptions could stoke inflation fears.