Newsman: Iranians new supreme leader, Mojtaba Khamenei promised revenge for Iran’s “martyrs,” including the many children killed in an apparent U.S. strike on a school, and said in a defiant first message to the nation that the critical Strait of Hormuz would remain closed, as gas prices rose and the U.S.-Israeli war on Iran reached its 13th day.
“We will not overlook the vengeance for the blood of your martyrs,” his address to the Iranian people said.
Khamenei’s message, read aloud by an announcer on state TV, came as oil prices again topped $100 a barrel and two tankers burned in Iraqi waters after an overnight attack.
The new supreme leader did not appear personally to deliver the message, nor was a recording of his voice played over the broadcast. Khamenei was reportedly wounded in the Feb. 28 airstrikes that killed his father, Supreme Leader Ali Khamenei, and several family members in Tehran. Mojtaba Khamenei has not been seen or photographed since he was named to succeed his father.
In the US nationwide U.S. average price of gas was $3.602 a gallon on Thursday, according to GasBuddy.
Iran attacked two oil tankers off the coast of Iraq overnight, setting them ablaze. Iran’s supreme leader said the Strait of Hormuz would remain closed.
President Donald Trump addressed concerns over gas prices in a social media post Thursday morning, writing that “of far greater interest and importance to me, as President, is stopping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World.”
President Trump said defeating Iran was “of far greater interest and importance to me,” than rising energy prices.
Iran’s security chief says Trump will ‘pay the price’ for war
In response to Trump saying he wants to win the war quickly, Iran’s top security official, Ali Larijani, said starting a war is easy “but ending it won’t happen with a few tweets.”
“We won’t let you off the hook until you admit your mistake and pay the price for it,” Larijani said on social media.
The first public comments from Iran’s new supreme leader could prompt the U.S. and its allies to consider sending troops on the ground in Iran, according to one geopolitical expert.
Oil surges, stocks sell off
Brent crude oil prices pressed higher on March 12, sending stocks tumbling and Wall Street’s “fear gauge” up sharply.
At 4:30 p.m. ET, a barrel of crude, the global benchmark, was up 9% for the day, near $97. The S&P 500 was down 1.5% for the day, but the tech-heavy Nasdaq slid 1.8%. The CBOE Volatility Index jumped 13% during the day, and bonds sold off as investors continued to price in a higher-inflation environment.
The market movements come one day after IEA member countries pledged to release 400 million barrels of reserves to help mitigate the oil being blocked from transiting through the Strait of Hormuz.
National gas prices haven’t yet caught up to Thursday’s big jump in the oil price. The national average was $3.608, according to GasBuddy – unchanged for the day.
