Iran warns: If Iranian ports are threatened, no port in the region will be safe

ME News update: On April 13 (UTC+8), the Trump administration imposed maximum pressure on Iran by blocking the Strait of Hormuz. Iran responded firmly, threatening retaliation against all ports in the Gulf. Spot crude oil supply is already tight, and some refineries even pay record premiums of up to $50. U.S. Central Command said the blockade will begin at 10:00 a.m. Eastern Time on Monday, “and will be enforced fairly against all ships from all countries traveling to and from Iranian ports and coastal areas, covering all Iranian ports located in the Persian Gulf and the Gulf of Oman.” JPMorgan analysts said in a report, “Reopening the Strait of Hormuz has become the market’s most time-sensitive priority. The last oil tanker to pass through the strait on February 28 is expected to arrive at its destination around April 20, at which point pre-war inventories will be completely depleted from the global supply chain.” For a long time, Trump has claimed that the increase in U.S. gasoline prices is only temporary. But he admitted on Fox News’ “Sunday Briefing” program that high oil prices could persist until the mid-term election in mid-November. (Source: ODAILY)