Iran warns of military retaliation against the US "maritime blockade plan", causing a short-term surge in international oil prices
BlockBeats News, on April 29, according to Iran's official media Press TV, a senior Iranian security official stated that the United States is attempting to undermine Iran's oil exports by imposing a maritime blockade around the Strait of Hormuz. Iran will respond to this with an "unprecedented" military action.
Previously, it was reported that Trump had instructed aides to study a long-term maritime blockade plan against Iran to further weaken Iran's financial and energy export capabilities.
As a result of this news, WTI and Brent oil prices surged by nearly 4% during the day. The market is concerned that escalating tensions in the Middle East may threaten the security of key energy transportation channels such as the Strait of Hormuz and the Bab el-Mandeb Strait, and further drive up global energy prices.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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