Crude Hits $117 as Iran Threatens US Warships

Brent crude oil has climbed to approximately $117 per barrel, its highest price since April, as tensions escalate in the Persian Gulf. The surge in energy costs follows new warnings from Iranian military leaders that they are prepared to fire on United States warships. This development adds financial pressure to consumers and businesses already dealing with supply chain disruptions caused by the ongoing conflict.

President Donald Trump addressed a rally in Florida on Friday, stating that the US military may launch another campaign he called "Epic Fury." This reference points to the large-scale bombing operation that began the war on February 28. Trump indicated that Washington has not yet decided between ending the fighting quickly with massive strikes or continuing the current strategy of naval blockades and sanctions to pressure Tehran.

Ali Abdollahi, the chief of general staff of Iran's armed forces, issued a statement on Saturday morning. He declared that the US Navy cannot re-enter Iranian territorial waters or their surroundings because Iran can target any vessel in the region. Abdollahi said the US president can only dream of American soldiers and military assets re-entering the Persian Gulf. He argued that Washington's rhetoric is contradictory, noting that claims of Iran's destroyed military capabilities are undercut by the US decision to keep aircraft carriers and support ships at a distance.

The Islamic Revolutionary Guard Corps reported that seven tankers were attacked or hit mines during the overnight shift into Thursday. On Friday, the corps claimed that two supertankers struck mines. These attacks occur while shipping around the Strait of Hormuz remains under threat. In response to the rising danger, Washington has reportedly ordered many diplomatic staff to leave Saudi Arabia, with additional personnel expected to depart other countries in the region.

Fighting continues on other fronts as well. The Iran-allied Houthis in Yemen struck Riyadh on Saturday, following recent attacks on Dammam's international airport and the Shaybah oilfield. Saudi forces have bombed Houthi-held areas in Marib and Taiz. In southern Lebanon, Israeli air strikes hit areas near Nabatieh and artillery fell near Zawtar ash-Sharqiyah. Israeli Prime Minister Benjamin Netanyahu ordered a lockdown of the occupied West Bank on Friday after a Palestinian attack killed two soldiers in Hebron. An election in Israel is scheduled for October 27.

Diplomatic efforts have stalled. On Friday, senior diplomats from Turkiye, Saudi Arabia, Pakistan, and Egypt met with counterparts from the UK, France, Germany, and Italy in Istanbul. The United States and Iran were not present for the talks. Turkiye's Foreign Minister Hakan Fidan stated that a new attack on Iran would widen the war and spread the conflict across the region. The four regional ministers supported the Islamabad memorandum of understanding signed in June and demanded unrestricted passage through the Strait of Hormuz.

Iranian state-linked media and analysts say Tehran has activated a "dead hand" doctrine. This policy would allow attacks on US, Israeli, and regional interests to continue from all 31 provinces if senior leaders are assassinated. The IRGC has also threatened seabed internet and communication cables if civilian infrastructure is targeted again. US intelligence reports indicate that Iran has substantially increased efforts to strike American officials in the Middle East and elsewhere.