Iran's IRGC: No oil or gas leaves the region while US stays

Iran's Islamic Revolutionary Guard Corps has escalated its rhetoric on Gulf energy flows, warning that exports out of the region will remain frozen as long as US forces stay deployed nearby. The statement lands as tanker attacks and US strikes on Iranian coastal targets keep traffic through the Strait of Hormuz on edge.

What the IRGC said

The IRGC said American military action would only delay the reopening of the Strait of Hormuz, adding that “as long as the US evil stays in the region, not a drop of oil and gas will be exported from the region.”

The Guard Corps also threatened to close other regional corridors used to export energy, warning the US “must brace for the closure of all other export corridors that benefit the U.S. and its allies,” and stating that regional energy exports are either shared by all or denied to all.

Tankers hit, Hormuz traffic stalls

Oman's Maritime Security Center said the Al Bahyah, owned by Al Bahyah Inc. and based in the United Arab Emirates, was targeted about 9.6 nautical miles off the coast of Musandam Governorate, with 18 crew evacuated and three still missing. The attacks have brought traffic through the Strait of Hormuz to a standstill.

Earlier, Iranian cruise missiles hit two oil tankers in the Strait of Hormuz, killing one crew member and injuring eight, according to the UAE Ministry of Defense, with the Mombasa and Al Bahiyah struck while sailing through the strait's southern shipping lane.

US strikes and a possible blockade

US forces launched a new wave of attacks against Iranian military targets Wednesday, extending the campaign into a fifth consecutive day, with CENTCOM concentrating on coastal defense systems and cruise missile storage and launch facilities on Greater Tunb Island.

President Trump has decided to impose a full blockade on all ship traffic coming to and from Iran, saying he was reinstating the blockade because Iran broke the recent ceasefire deal by launching missile attacks on commercial tankers and by trying to shut down the Strait of Hormuz.

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Crude prices and the Kharg Island question

The military campaign has renewed attention on Trump's broader energy strategy as oil markets respond to the possibility of interrupted Persian Gulf exports, with global crude near $80 per barrel versus roughly $69 in June.

Trump has declined to rule out a US operation against Kharg Island, the facility that handles roughly 90% of Iran's crude oil exports, saying previous US attacks deliberately avoided Kharg's petroleum facilities because they represented a chunk of the world economy.

China in the middle

A US blockade of Iran is set to upset China, which depends on that oil, and on Tuesday Beijing demanded the resumption of normal and safe passage through the Strait.

Options market and stocks to watch

Watch USO and XLE for a bid on any Hormuz escalation headlines, given crude's sensitivity to the Strait staying blocked.

Watch integrated majors like XOM and CVX for flow tied to sustained higher crude, and defense name LMT if the US posture in the region expands.

Also watch tanker operator FRO, as attacks on Gulf vessels typically drive shipping day rates and insurance premiums higher.

Keep an eye on other news for further updates from the region.

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