Iran warned on Tuesday that it would establish a maritime exclusion zone across the Persian Gulf in response to what it described as U.S. economic warfare, as Brent crude rose 1% to $98.01 a barrel by 01:48 ET.
The report also cited separate market data showing Brent at $96.81, up $0.96, or 1.00%, and Brent futures at $101.75, up 3.91%.
Mohsen Rezaei, secretary of Iran's Supreme National Security Council, said on X that Washington had received a clear warning from Iran's new missiles. He said any economic warfare would face a restricted zone extending across the Gulf to the perimeter of the U.S. blockade. On state television, Rezaei said the zone would begin where the U.S. blockade of Iran ends and extend into the Gulf.
Tehran also plans to announce maps for a new shipping corridor through the Strait of Hormuz. Vessels entering the restricted area could be placed on an Iranian sanctions list, Rezaei said. He added that Iran's operational posture toward U.S. warships and bases had been fundamentally recalibrated.
The warnings came after U.S. forces struck three Iranian oil tankers on Saturday. Iranian state media reported that Iran fired a Qassem Basir missile at several U.S. vessels near the Strait of Hormuz in response. The U.S. military said its warships evaded the missile attacks.
Separately, Houthi militants launched a wave of attacks on Saudi Arabia on Tuesday, targeting several locations in the kingdom. Saudi authorities said 73 people were injured.
The developments heightened concerns over energy shipping routes. About one-fifth of global oil and liquefied natural gas shipments passed through the Strait of Hormuz before the conflict.
Iranian Parliament Speaker Mohammad Bagher Qalibaf warned that U.S. oil and gas companies and energy infrastructure across the Gulf are vulnerable to retaliation if Washington attacks Iranian oil and gas facilities.
