The US naval blockade of Iran will trigger a new wave of inflation in the oil market, pushing the price of a barrel to $140, according to Mohammad Bagher Ghalibaf, the speaker of the Iranian parliament and head of the Iranian delegation in negotiations with the US.

“That was the kind of junk advice the US admin[istration] gets from people like [US Treasury Secretary Scott] Bessent who also push the blockade theory and cranked oil up to $120+ [per barrel]. Next stop:140,” Ghalibaf wrote, in particular, on X.

He added that the US problem “isn't the theory, it's the mindset.”