'Enjoy It Now': Iran Warns Of Oil Price Shock Amid Trump Blockade Threat

New Delhi: After US President Donald Trump threatened to block ships transiting through the Strait of Hormuz, Iran responded with a sharp warning on rising fuel prices. Iranian Parliament Speaker Mohammad Bagher Ghalibaf on Monday said that the global consumers would soon feel the impact, stating, “Enjoy the current pump figures. With the so-called 'blockade', soon you'll be nostalgic for $4-$5 gas."

What did Iran say?

Iran Parliament Speaker Mohammad Bagher Ghalibaf taking to social media shared a mathematical equation which, according to reports, signals that any increase in Hormuz blockade severity leads to a compounding, nonlinear surge in oil prices rather than a simple one-to-one rise: ΔO_BSOH > 0 ⇒ f(f(O)) > f(O).

Taking to X, Mohammad Bagher Ghalibaf, wrote, "Enjoy the current pump figures. With the so-called 'blockade', Soon you'll be nostalgic for $4-$5 gas.  ΔO_BSOH>0 ⇒ f(f(O))>f(O)."

Enjoy the current pump figures. With the so-called 'blockade', Soon you'll be nostalgic for $4–$5 gas.

ΔO_BSOH>0 ⇒ f(f(O))>f(O) pic.twitter.com/rVxlC6vFWG

— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) April 12, 2026

What is the reason?

Following the failure of ongoing talks between the United States and Iran, global markets have become increasingly volatile. In fact, following the breakdown of talks, the US has taken a tough stance against Iran and has begun preparations to block ships transiting through the Strait of Hormuz. 

US Central Command said the blockade would target vessels entering or leaving Iranian ports, while allowing ships travelling to non-Iranian destinations through the Strait of Hormuz to continue for now.

What is the price?

Crude oil prices saw a sudden spike on Monday. Brent crude futures rose nearly 8 per cent to reach $103 per barrel. Oil prices had fallen last week, but the market recovered quickly after this new news.

The US has declared a blockade of the Strait of Hormuz. This is a vital sea route, through which a large amount of oil is traded. Any disruption to this route impacts the entire world.

Who will be affected?

The new restrictions will apply specifically to ships entering or leaving Iranian ports. The rule came into effect at 10 am Eastern Time on Monday. This means Iran's oil exports will be affected, potentially reducing global supplies.