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Iran warns of military retaliation against U.S. "maritime blockade plan," causing a short-term surge in international oil prices
BlockBeats News, April 29 — According to Iran’s official media Press TV, a senior Iranian security official stated that the United States is attempting to impose a maritime blockade around the Strait of Hormuz to target Iran’s oil exports, and Iran will respond with an “unprecedented” military action.
Earlier reports indicated that Trump had asked aides to explore long-term maritime blockade plans against Iran to further weaken Iran’s financial and energy export capabilities.
Following the news, U.S. crude and Brent crude oil prices temporarily rose by nearly 4% intraday. The market is concerned that escalating tensions in the Middle East could threaten the security of key energy transit routes such as the Strait of Hormuz and the Strait of Mandeb, further driving up global energy prices.