Iran threatens regional oil blockade after Trump warns of strikes

Iran's main military command, Khatam al-Anbiya Central Headquarters, on Wednesday warned that if the United States attacks Iranian infrastructure, Iran will block all oil exports from West Asia and target oil, gas, electricity and economic infrastructure across the region, according to media reports.

The warning in a statement carried by Iranian media came in response to US President Donald Trump's renewed threat of "bombing" Iran's bridges and power plants.

In a Wednesday post on Truth Social, Trump stated that any Iranian attack on ships in the Strait of Hormuz would trigger US strikes on "ONE BRIDGE OR POWER PLANT," including those located next to, or in, Tehran, the capital of Iran. 

The regional conflict shows no sign of de-escalation. US forces launched a 12th consecutive night of strikes against Iran on Wednesday, according to US Central Command.

"The mission will continue to further degrade Iran's ability to threaten civilian mariners and commercial vessels transiting regional waters," said the command.

Commercial shipping through the Strait of Hormuz and the Bab al-Mandab Strait has plunged as Iranian forces and other regional countries tighten their grip on the vital waterways, leaving vessels without guarantees of safe passage. 

In a post on X on Wednesday evening, Iranian Parliament Speaker Mohammad Bagher Ghalibaf, also the country's top negotiator, warned that "the equation of this war is clear: either all or none!"

"In a region where we do not sell oil, no-one will sell oil. If our security is not ensured, no infrastructure will be safe, and the security of the strait is in the absence of American forces. We have repeatedly said that the situation of the strait will not return to pre-war conditions," he wrote.

According to Kpler, a data and analytics platform that tracks real-time maritime shipping, traffic declined sharply across both straits on Tuesday, with Strait of Hormuz crossings down 31% day-on-day to nine vessels and Bab al-Mandab traffic down 34% to 29 amid a worsening security backdrop.

As a result of the limited traffic, oil prices hit $95 per barrel, climbing to a six-week high. 

Beyond taking a toll on the energy market, the conflict has also resulted in rising casualties on both sides. 

At least 18 US service members have been killed since strikes began in February, and roughly 500 have been wounded, according to the US Department of Defense. On the Iranian side, at least 53 people have been killed in US strikes on Iran since June 27, including three children, according to Iran's Health Ministry.