Iranian Parliament Speaker Mohammad Bagher Ghalibaf has mocked the United States and its allies after global oil prices surged above $100 a barrel, arguing that efforts to pressure Tehran have instead fuelled a sharp rise in energy costs.
In a post on X on Thursday, Ghalibaf shared a meme depicting a cyclist placing a stick in his own wheel, alongside the caption: "They wanted to punish Iran. Punished themselves with triple-digit oil instead. 10/10 strategy."
The post came as Brent crude climbed above the psychologically significant $100-per-barrel mark amid escalating tensions in the Middle East and fears of supply disruptions.
The spike in crude prices follows Iran's threat to disrupt shipping through the Strait of Hormuz, a vital maritime chokepoint through which roughly one-fifth of global oil consumption passes.
The renewed conflict has prompted traders to factor in a higher geopolitical risk premium, pushing Brent crude into triple digits for the first time in months.
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For energy markets, the $100 threshold is more than a symbolic milestone. Higher crude prices feed directly into transportation and manufacturing costs, raising inflationary pressures at a time when major central banks are already balancing growth concerns against elevated prices.
Analysts have warned that a prolonged disruption in Gulf oil flows could further tighten global energy supplies and delay interest-rate easing in several economies.
Earlier on Wednesday, Ghalibaf declared, "If Iran can't export oil, no one will," reinforcing Tehran's position that restrictions on its energy exports could disrupt flows across the wider Gulf region.
The move has already begun rippling through financial markets. Higher oil prices pushed investors to reassess inflation risks, with airline stocks coming under pressure because of rising jet fuel costs, while bond yields climbed on expectations that central banks may have to keep interest rates higher for longer.
Analysts at Goldman Sachs have warned Brent could exceed $120 a barrel if supply disruptions in the Gulf persist.
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