Tehran, Iran. Iran said it would respond with “long and painful strikes” on U.S. positions if Washington renewed attacks, as the Strait of Hormuz remained closed and global energy prices surged.
Warning on renewed U.S. attacks
A senior Revolutionary Guards official said any U.S. attack on Iran, even if limited, would usher in “long and painful strikes” on U.S. regional positions. Iranian media quoted Aerospace Force Commander Majid Mousavi as saying: “We’ve seen what happened to your regional bases, we will see the same thing happen to your warships.”
Strait remains closed as conflict continues
Two months into the war that started with U.S.-Israeli strikes on Iran, the Strait of Hormuz remained closed, cutting off 20% of the world’s supplies of oil and gas. Global energy prices have surged, heightening concerns about the risks of an economic downturn.
Ceasefire impasse and competing measures
Efforts to resolve the conflict have hit an impasse, with a ceasefire in place since April 8 but Iran still blocking the strait in response to a U.S. naval blockade of Iran’s oil exports.
Reported U.S. strike plans and market reaction
Axios reported late on Wednesday that U.S. President Donald Trump was slated to receive a briefing on Thursday on plans for a series of fresh military strikes on Iran, aimed at making Iran more flexible on nuclear issues in negotiations. Oil prices rose sharply, with Brent crude LCOc1 hitting more than $126 a barrel at one point, its highest since March 2022, before later slipping back to $113.
Broader regional impacts
Brent prices have doubled since the U.S.-Israeli attack on Iran began on February 28, fuelling inflation and raising pump prices worldwide. Iran has blocked almost all but its own shipping through the strait and launched drones and missiles at Israel and U.S. bases, infrastructure and U.S.-linked companies in Gulf states.
Corporate disruption in Gulf states
Amazon reported damage on Thursday to its cloud regions in Bahrain and the United Arab Emirates from the conflict, and said restoring normal operations could take months.
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