Iran BLOCKS Oil—Prices Explode Past $100

Iran’s newly installed Supreme Leader Mojtaba Khamenei has declared “never-ending” vengeance against America and Israel his top priority, vowing to maintain the catastrophic blockade of the Strait of Hormuz that has sent oil prices soaring past $100 per barrel while threatening to open new fronts in an escalating war that already claimed his father’s life.

Story Snapshot

Mojtaba Khamenei vows unrelenting revenge for his father’s death and 165+ schoolgirls killed in a U.S. missile strike linked to faulty intelligence
Iran’s continued blockade of the Strait of Hormuz disrupts 20% of global oil supply, forcing emergency reserve releases from Western nations
New Supreme Leader demands Gulf neighbors close U.S. military bases or face escalating Iranian drone and missile attacks
Khamenei’s refusal to appear publicly raises questions about regime stability as succession bypasses traditional religious authority

Regime Succession Amid War Escalation

Mojtaba Khamenei delivered his first statement as Iran’s third Supreme Leader on March 12, 2026, through a written message broadcast on state television. The son of Ayatollah Ali Khamenei assumed power following U.S.-Israeli strikes that killed his father just days earlier. His message centered on avenging martyrs killed in the ongoing conflict, particularly the more than 165 victims of a missile strike on a girls’ school in Minab, attributed to outdated American intelligence. The absence of a personal appearance fuels speculation about the new leader’s health or location, undermining the regime’s carefully crafted narrative of strength during this unprecedented dynastic succession.

Strategic Leverage Through Energy Disruption

Khamenei explicitly affirmed Iran’s continued blockade of the Strait of Hormuz, declaring “the lever of blocking the Strait must continue” as a core component of his vengeance strategy. This chokepoint handles approximately 20-21% of global oil supplies, and its closure has driven prices above $100 per barrel. The G7 and International Energy Agency responded by releasing 400 million barrels from strategic reserves, a stopgap measure that strains Western energy security. President Trump noted the U.S. oil industry benefits from higher prices, but his administration prioritizes dismantling Iran’s nuclear weapons capabilities over immediate economic concerns about fuel costs.

Direct Threats to American Allies

The Supreme Leader’s message included explicit warnings to Gulf nations hosting U.S. military installations, urging them to “shut down” American bases on their territory. Over the past thirteen days preceding his statement, Iranian drones struck fuel facilities in Bahrain and Oman, demonstrating Tehran’s willingness to punish neighbors it views as complicit in American aggression. Khamenei distinguished between hostile and neutral neighbors, offering friendship to states that refuse American military presence while threatening those who cooperate with Washington. This calculated pressure campaign aims to fracture the regional coalition supporting U.S. operations against Iran’s nuclear program and terrorist proxy networks.

Martyrdom Narrative Fuels Escalation

Khamenei’s statement emphasized vengeance for all martyrs, from his father to the Minab schoolgirls, declaring revenge “a priority until fully achieved.” He praised Iran’s Islamic Revolutionary Guard Corps as “brave warriors” and warned of potential new fronts based on Iranian interests. The regime weaponizes grief over civilian casualties to justify continued aggression, despite U.S. military success in destroying ten Iranian mine-laying vessels. This martyrdom ideology, deeply embedded in Iran’s revolutionary theology, poses long-term dangers as it legitimizes endless retaliation cycles. For Americans who remember hostages, embassy attacks, and decades of Iranian-sponsored terrorism, Khamenei’s vows represent a grim continuation of theocratic threats to freedom and stability worldwide.

#BREAKING: Iran supreme leader says vengeance is priority 'until fully achieved' https://t.co/Il7QsmLt9i pic.twitter.com/bXp9jxBQhU

— Arab News (@arabnews) March 12, 2026

The Trump administration confronts a regime that views compromise as weakness and sacrifice as sacred duty. Iran’s blockade weaponizes energy markets against Western economies already recovering from Biden-era inflation and regulatory overreach. Khamenei’s succession circumvented traditional religious oversight by the Assembly of Experts, consolidating dynastic control reminiscent of North Korea’s totalitarian model rather than legitimate governance. His demands that sovereign Gulf nations expel American forces exemplify the authoritarian overreach conservatives recognize as incompatible with international law and human dignity. The path forward requires strength, not appeasement, to protect American interests and allied security in a region Iran seeks to dominate through nuclear blackmail and economic coercion.