Iran Warns US Energy Firms Exposed as Gulf Shipping Crisis Deepens
Iran warns US energy firms are exposed to retaliation as tit-for-tat strikes resume, with oil prices rising and Hormuz transits at a low.
Iran has issued a fresh warning to the United States, stating that American oil and gas companies operating in the region are vulnerable to retaliation. The statement from Parliament Speaker Mohammad Baqer Qalibaf came as tit-for-tat strikes between the two nations resumed over the weekend, pushing global oil prices to their highest levels in six weeks.
"Strike our assets and you get struck," Qalibaf said, asserting that the regional energy production chain is "sprawling, accessible, and exposed." The remarks were a direct response to U.S. Defense Secretary Pete Hegseth's characterization of Iran's oil tanker fleet as "defenceless."
In a related development, senior Iranian security official Mohsen Rezaei announced plans for a new restricted zone in the Gulf. The zone would begin where the U.S. naval blockade of Iran starts, and any ship entering it would be placed on an Iranian sanctions list. Rezaei also indicated that Tehran would soon approve maps for a new shipping corridor through the Strait of Hormuz, a vital artery for global energy supplies.
The escalation follows a period of relative calm in August. U.S. forces struck three Iranian oil tankers on Saturday, including one near Kharg Island, Iran's primary export hub. This came after attacks by Iran's Islamic Revolutionary Guard Corps on U.S. warships. The conflict, which began with U.S. and Israeli strikes in late February, has yet to achieve Washington's stated goals of ending Iran's nuclear programme or toppling its leadership.
The renewed hostilities are having a tangible impact on global markets. Shipping data shows an average of only 10 commodity ships transiting the Strait of Hormuz per day over the past 10 days, the lowest level since May. This disruption contributed to a rise in oil prices, with Brent crude futures briefly hitting $97.93 a barrel before settling back to $96.19.
The economic strain is also being felt by Gulf Arab states. The UAE, which has suffered missile attacks and strikes on its tankers, is actively seeking alternative export routes. Presidential adviser Anwar Gargash stated the country is building new pathways to ensure its energy trade is not "held hostage" by the conflict. Meanwhile, Iran's economy is under severe pressure from sanctions, with its leadership acknowledging major challenges related to inflation, unemployment, and currency fluctuations.