K-Points News: Beyond the Headlines — War, Unrest, Commodity Prices, and Beyond
K-Points News: Beyond the Headlines — War, Unrest, Commodity Prices, and Beyond
Iran says that Either the Oil Market Is Dumb or the US Is Lying
"In response to repeated claims by U.S. officials that the Strait of Hormuz remains open and under American control, Iran’s Parliament Speaker, Mohammad Bagher Ghalibaf, issued a sharp rebuttal in his X account. He characterized the U.S. position as a product of its 'gaslighting bureau,' arguing that the official narrative is contradicted by market realities.
Ghalibaf pointed out that despite claims of American dominance over the waterway, global oil prices reflect a significant 'risk premium' attributable to instability in the region. He noted that current prices stand at $35 above pre-invasion levels, and as much as $50 when calculated using actual dated contract values.
He added: "So either the market’s dumb or the US narrative-laundromat is faking it. Free-dollar vending machine in Hormuz for believers. Go grab it."
As tensions escalate in the Strait of Hormuz and US claims that it has still control over the waterway, Iran has announced that its navy has intercepted a U.S. Remus 600 autonomous underwater vehicle—marking the second such American drone captured by Iranian forces, according to the military.
"The Iranian Navy successfully intercepted a state-of-the-art U.S. military drone conducting espionage operations in the Strait of Hormuz through a complex operation involving electronic warfare and intelligence gathering," the army stated. "The Remus 600-class underwater vehicle has been taken as a trophy and is now being analyzed by specialists for data extraction."
