Iran threatens to shut more energy export routes as conflict with U.S. escalates

Iran's Islamic Revolutionary Guard Corps (IRGC) has threatened to close additional energy export corridors serving the United States and its allies after shutting the Strait of Hormuz, raising fears of further disruption to global oil supplies.

In a statement carried by Iran's state news agency, IRNA, on Wednesday, the IRGC declared that "regional energy exports are either shared by all, or denied to all," warning of broader action if hostilities with Washington continue.

The latest threat comes after the United States reimposed a naval blockade on Iranian ports and launched fresh military strikes targeting Iranian facilities near the Strait of Hormuz.

Iran Signals Possible Expansion of Maritime Disruption

Security analysts say Tehran has also indicated it could rely on its Houthi allies in Yemen to target the Bab el-Mandeb Strait, another critical global shipping route linking the Red Sea to the Gulf of Aden.

The strategic waterway carries Saudi oil exports and a significant share of global maritime trade.

A senior Houthi official warned earlier this week that the group was prepared to close the Bab el-Mandeb Strait if Saudi Arabia continued military operations in Yemen, claiming such a move could push global oil prices as high as $200 per barrel, according to Iran's Press TV.

The Houthis also fired missiles at Saudi Arabia on Monday after accusing the kingdom of bombing an airport under their control, effectively ending a four-year truce between Saudi forces and the Iran-backed group.

The Houthis have previously demonstrated their ability to disrupt international shipping. Following the outbreak of the Gaza conflict in October 2023, the group launched repeated attacks on commercial vessels in the Red Sea, saying it was targeting ships linked to Israel in support of Palestinians.

U.S. Launches Fresh Strikes

The latest escalation follows a new round of U.S. military strikes, which Washington said were aimed at degrading Iran's capability to attack commercial shipping in the Strait of Hormuz.

According to the United States, Iranian forces attacked seven commercial vessels over the past week, leaving nearly a dozen crew members dead, injured or missing.

The U.S. Central Command (CENTCOM) said its forces struck dozens of military targets along Iran's southern coastline and around the Strait of Hormuz during a seven-hour operation on Tuesday.

Iranian government spokesperson Fatemeh Mohajerani said at least 30 civilians were killed in recent U.S. strikes in southern Iran.

Iran's military also reported that seven soldiers, including active-duty personnel and conscripts, were killed in overnight attacks on the Bampur military base in southeastern Iran.

Iran Vows to Keep Hormuz Closed

The IRGC insisted the Strait of Hormuz would remain closed until what it described as "the end of America's evils."

Before the conflict intensified earlier this year, roughly one-fifth of global oil and gas shipments passed through the strategic waterway each day.

The Revolutionary Guards also claimed responsibility for attacks on facilities linked to the U.S. Fifth Fleet in Bahrain, saying command centres, logistics hubs, fuel depots and military equipment were targeted in retaliation for recent American strikes.

The group further claimed it destroyed a U.S. logistics facility at Mina Abdullah in Kuwait and struck a U.S. military base at Azraq in Jordan, targeting aircraft hangars.

Kuwait's state news agency confirmed that firefighters had brought a blaze under control at a site struck during the attacks, although authorities did not immediately confirm whether it was the location identified by Iran.

Jordan's military also announced that its air defence systems intercepted and destroyed three ballistic missiles that entered the country's airspace from Iran early Wednesday.

Trump Warns of More Strikes

U.S. President Donald Trump warned that Washington could target Iran's energy infrastructure unless Tehran returns to negotiations.

"I'll save the energy targets for last, but ultimately we'll hit energy targets," Trump said during an interview with Fox News.

He added that U.S. negotiators had informed Iranian officials that they should return to the negotiating table.

Trump had earlier proposed imposing a 20 per cent fee on vessels transiting the Strait of Hormuz, a plan that drew criticism from the United Nations' shipping agency and other stakeholders. He later withdrew the proposal, saying instead that the U.S. would pursue investment agreements with Gulf states.

Oil Prices Climb on Supply Concerns

Global oil prices extended their gains as investors reacted to the escalating conflict and growing concerns over supply disruptions in the Middle East.

Brent crude rose for a second consecutive session, closing at its highest level since June 12, while U.S. West Texas Intermediate (WTI) crude settled at its strongest level since June 15. Both benchmarks continued to advance in early Wednesday trading as markets assessed the risks to two of the world's most critical energy shipping routes.