Iran Vows to Halt Mideast Oil Flows to U.S. and Israeli Allies as Markets Whipsaw

Overview

• IRGC spokesperson Ali Mohammad Naini said forces would block any oil exports to the “enemy camp and its partners” until further notice, underscoring Tehran’s leverage over the Strait of Hormuz.
• Crude spiked toward $100–$120 a barrel before sliding after President Trump said the war would end soon and signaled possible easing of some oil sanctions, while diesel in France averaged above €2 per liter and officials pressed for market stabilization.
• The conflict widened with Israeli strikes on Beirut’s southern suburbs targeting Hezbollah, Iran reporting missile fire on a U.S. base in Iraq’s Kurdistan, Gulf states intercepting drones, and the UAE’s Ruwais refinery suspending operations as a precaution following a drone attack in the area.
• The humanitarian toll climbed sharply as the UNHCR reported more than 667,000 people displaced in Lebanon after intensified Israeli attacks.
• U.S. and Gulf governments engaged Ukrainian defense firms on acquiring interceptor drones, and President Volodymyr Zelensky said he had ordered the provision of equipment and specialists to partners facing mass Shahed raids.