US, Iran feel pain from energy disruptions
US gas prices hit record highs and Iran doubled the price of fuel consumed over quota, as energy disruptions hit at the pump in both countries.
DUBAI: Iran has warned that it will retaliate against any new US attacks on its assets, stating that the energy production chain in the region is "sprawling, accessible and exposed" and that US oil and gas companies there share that exposure. Iranian Parliament Speaker Mohammad Baqer Qalibaf said, "Strike our assets and you get struck," following a series of strikes on shipping that pushed oil prices up to six-week highs.
Iranian security official Mohsen Rezaei hinted at plans for a new restricted zone in the Gulf, saying Iran would soon approve maps and add ships entering it to an Iranian sanctions list. Qalibaf reiterated Iran's defiance, stating that the oil and gas production chain is vulnerable to US strikes, referencing Iranian attacks on US military bases.
The conflict has strained economies, with Iran facing challenges related to currency fluctuations, inflation, unemployment, and market management.
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- Iran says US energy cos’ facilities are ‘exposed’ brecorder.com
