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

ME News report: On April 13 (UTC+8), the Trump administration has imposed extreme pressure on Iran by blockading the Strait of Hormuz. Iran has responded forcefully, threatening retaliation against all ports in the Gulf. Spot crude oil supplies are already tight, and some refineries have even paid record premiums of up to $50.

The U.S. Central Command said the blockade will begin at 10:00 a.m. Eastern Time on Monday: “It will be enforced fairly against ships of 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.”

In a report, JPMorgan analysts said: “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 wartime 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 a temporary phenomenon. But on Fox News’ “Sunday Briefing,” he acknowledged that high oil prices could persist until the midterm elections in mid-November. (Source: ODAILY)