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The Iran war is showing no signs of easing, with Tehran’s new Supreme Leader Mojtaba Khamenei saying Thursday that the Strait of Hormuz closure should continue as a “tool to pressure the enemy,” in his first public statement since being appointed. The U.S. Treasury Secretary Scott Bessent, meanwhile, told Sky News that the U.S. Navy will begin escorting ships through the critical waterway as soon as “militarily possible.”
Khamenei’s comments sent oil prices soaring, with Brent crude closing above $100 a barrel for the first time since August 2022. Energy worries sent European and U.S. stocks lower, with the 30-stock Dow ending the session below the 47,000 threshold for the first time this year. Asia markets opened lower Friday.
Attacks on ships in the Persian Gulf have also intensified. Three more foreign vessels were struck Wednesday, according to the United Kingdom Maritime Trade Operations, causing a small fire onboard, though all crew were reported to be safe. That comes after two foreign oil tankers were left ablaze in Iraqi waters after having been struck near the port of Umm Qasr, close to the city of Basra, Iraq.
