While United States President Donald Trump prepares to blockade Iranian ports for many more “months”, the price of oil spikes to its highest since 2022. The price of Brent crude oil rose to $126 on Thursday.
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This news comes as US-Iran talks stalled and reports that Trump may extend the blockade of Iranian ports. On Wednesday, according to several media reports, including one from RT, citing White House officials, Trump ordered a plan to prolong the blockade of Iranian ports “for months” in a bid to pressure Tehran to consent to a more favorable peace deal.
Previously, Trump blockaded an already blockaded Strait of Hormuz for the same reason. So far, that has failed and done little more than cause the price of oil to surge.
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Meanwhile, Iran has warned that it is ready to launch “unprecedented military action” to lift the US blockade of its ports. Whether that action is an empty threat or otherwise remains to be seen. So far, Iran appears to be holding all the cards and will not be giving up its nuclear program, a sticking point for the US ruling class.
Earlier, Axios reported that the moves by the Pentagon could include a “short and powerful” wave of strikes on the Islamic Republic’s infrastructure and other targets, the use of ground forces to capture parts of the Strait of Hormuz to unblock shipping, and an operation by special forces to seize Iran’s enriched uranium.
There have been no direct meetings between the Americans and the Iranians since JD Vance failed in Islamabad in mid-April. Vance was unable to secure a peace deal during negotiations. However, he said that the US has also accomplished its goals in Iran. Does that mean war isn’t needed anymore?
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So far, the only repurcussions have been absorbed by the Middle East, and the American citizens who need to fuel their vehicles.