New Threat from Iran to the U.S.

The tension that has escalated again between the United States and Iran has moved into a new dimension that directly targets energy markets. Iran's Parliament Speaker Mohammed Bakir Galibaf warned that if the United States were to target Iran's energy assets, the infrastructure of American oil and gas companies in the region could be struck in retaliation.

"If you strike, you will be struck."

On September 7, Galibaf stated in a post on the social media platform X that the oil and natural gas production chain in the Middle East has spread over a wide area and is vulnerable to attacks.

Galibaf, who argued that American energy companies and facilities in the region are equally vulnerable, said, "If you strike our assets, you will be struck as well. We have proven this before."

The Iranian official's statement came after U.S. Defense Secretary Pete Hegseth's stern messages to the Tehran regime.

Pentagon's Stern Warning to Iran

Hegseth said in a statement on September 5 that if Iran attacked U.S. Navy ships, Washington would sink Iranian oil tankers. Hegseth also argued that Iran could not defend itself against possible U.S. attacks.

The U.S. Central Command (CENTCOM) confirmed over the weekend that three Iranian oil tankers had been neutralized and sunk, and warned Tehran about attacks on U.S. vessels.

Military activity had been relatively stagnant for most of August. However, after the temporary ceasefire reached in June broke down, reciprocal attacks resumed. No significant progress has yet been made to restart the peace process between the parties.

The Strait of Hormuz at the Center of Renewed Tension

One of the most critical points of the tension is the Strait of Hormuz, a major transit route for global energy trade.

Iranian senior security official Mohsen Rezaei said in a statement on September 6 that Iran would announce a new restricted zone in the Gulf in the coming days, and that maps for a new maritime corridor through the Strait of Hormuz would be approved.

Rezaei said that ships entering the designated area would be added to Iran’s sanctions list, and tied keeping the Strait of Hormuz open to the condition that the United States stops its sabotage, threats, and attacks against Iran.

The tension in the strait concerns not only regional security but also the global supply of oil and natural gas.

Energy Tension Reflected in U.S. Pump Prices

The pressure on energy supply from developments around the Strait of Hormuz is also felt in U.S. gasoline prices. According to data from the American Automobile Association reported in the article, as of September 7 the average price of gasoline nationwide rose to $4.15 per gallon, while the average price of diesel reached a record high of $5.90.

U.S. Energy Secretary Chris Wright said that about 9 million barrels of oil pass daily through the Strait of Hormuz, and that several million additional barrels are shipped via other routes.

Wright said that the U.S. Navy’s mission in the region is not only to ensure the safe passage of ships but also to block the exit of Iran’s oil and other export products from the area.

Regime Change Message in the Nuclear Deal

U.S. Energy Secretary Wright also made a striking statement regarding Iran's nuclear program. Wright, who argued that a new nuclear deal with Tehran could not be achieved during the current administration's term, said that eliminating Iran's nuclear capacity is on the agenda.

Wright, who said that a possible agreement could usher in a different regime in Iran, stated that the outcome of the process remains unknown.

The renewed mutual attacks between the U.S. and Iran, pressure on the Strait of Hormuz, and the direct targeting of energy infrastructure by threats are increasing the risk that the heightened military tension in the region will more strongly reverberate in global energy markets.