Global Oil Markets and Energy Security

Iranian state media aired a written statement attributed to new Supreme Leader Mojtaba Khamenei — read on state TV with no audio or video and not independently verified — vowing to avenge martyrs, keep the Strait of Hormuz closed, continue strikes on U.S. bases, thank allied militias and signal possible new fronts while he remains out of public view amid reports he was wounded. President Trump, meanwhile, told G7 leaders Iran is “about to surrender” and has publicly claimed U.S. strikes have destroyed Iran’s navy and air force and “wiped” its leadership — assertions framed by Pentagon actions (including strikes on alleged mine‑laying vessels) as the war escalates, shipping in the Gulf stalls and oil prices and casualties climb.