Iran Warns US of Consequences as Oil Prices Surge

Iran has warned that the United States will regret launching attacks on the Islamic republic, as escalating conflict in the Middle East pushes global oil prices sharply higher.

Iranian officials also signalled that the country could continue restricting traffic through the Strait of Hormuz, a crucial route for global energy shipments, intensifying concerns over disruptions to oil and gas supplies.

The International Energy Agency warned that the conflict could trigger one of the largest supply disruptions in the history of the oil industry. Despite the economic risks, Donald Trump said defeating Iran was more important than the impact on crude prices.

Iranian security chief Ali Larijani said the country would continue its response to the attacks. “Starting a war may be easy, but it cannot be won with a few tweets,” he wrote on social media, warning that Iran would not stop until the United States “regrets this grave miscalculation.”

The statement came after Iran’s new supreme leader Mojtaba Khamenei issued his first message since taking office following the death of his father, Ali Khamenei, who was killed in a strike earlier this month.

In his message, Mojtaba Khamenei called for firm action and said the option of blocking the Strait of Hormuz should be considered. The narrow waterway, only about 54 kilometres wide at its narrowest point, carries roughly a quarter of the world’s seaborne oil trade and about a fifth of global liquefied natural gas shipments.

Meanwhile, Benjamin Netanyahu said the joint campaign by Israel and the United States was dealing a heavy blow to Iran and the Tehran-backed group Hezbollah in Lebanon.

Iran’s deputy foreign minister Majid Takht-Ravanchi said Tehran was acting in self-defence and remained open to ending the conflict if a comprehensive agreement to halt the war could be reached.

The fighting has spread across the region. Strikes and drone attacks have targeted energy facilities and infrastructure in Gulf states, including incidents in Bahrain, Kuwait, Dubai and Saudi Arabia.

Benchmark oil prices have surged by about 40 to 50 percent since the conflict began on February 28, as tanker traffic slows and several Gulf producers cut output.

The conflict has also disrupted daily life inside Iran. Many shops have closed in cities such as Kermanshah, while residents scramble to withdraw savings from banks amid rising uncertainty.

According to the UN Refugee Agency, around three million people have been displaced in Iran since the fighting began. Iranian authorities say more than 1,200 people have been killed, although the figures could not be independently verified.

Officials also reported casualties across the wider region, including deaths in Israel and the Gulf states, as the conflict continues to escalate.