Iran's Khamenei Vows Strait Blockade; Oil Surges Past $100

This aggressive declaration, made without a public appearance, immediately triggered a surge in global oil prices, pushing them above $100 a barrel amidst escalating attacks on sea traffic in the vital waterway, with at least six ships already targeted. Khamenei further demanded the U.S. withdraw its regional military bases, threatening ongoing strikes against American installations while urging host nations to clarify their allegiance.

The statement, steeped in a vow of revenge for Iranian martyrs, also honored his father, Ali Khamenei, who perished in recent U.S.-Israel airstrikes. This significant escalation in rhetoric and actions from Iran's new leadership, targeting a crucial global energy chokepoint, signals a period of heightened geopolitical instability and poses substantial risks to international trade and energy markets.