Iran Blames US and Israel Policies for Surge in Global Oil Prices

Abbas Araghchi stated that policies and military actions by the United States and Israel are responsible for the recent surge in global oil prices.

Speaking during the annual Quds Day rally in Tehran, Araghchi told reporters that instability created by Washington and Tel Aviv in the region has driven energy prices significantly higher. He pointed to ongoing crises in the Middle East, including attacks on oil tankers and energy infrastructure in the Persian Gulf, as directly affecting global energy markets.

Oil prices briefly surged above $100 per barrel this week as tensions intensified. Brent crude reached around $101 in Asian trading, while US WTI crude traded above $96, reflecting market fears of further disruptions.

Araghchi's comments come amid escalating military confrontations between Iran and its rivals. These include recent US strikes on Iranian positions and reports of heavy attacks on Kharg Island. Regional tensions have also spread to Iraq, where a rocket struck the compound of the United States Embassy in Baghdad.

In Saudi Arabia, reports indicated Iranian strikes damaged five US aerial refueling aircraft at Prince Sultan Air Base, raising concerns about the safety of US military assets in the region.

The developments highlight a growing geopolitical crisis in the Middle East, where hostilities between Iran, the United States and Israel continue to impact global energy markets and regional stability.