Iran Blames Trump for Oil Surge to $120, Warns Prices Could Hit $140 Next

Iran’s Parliament Speaker Ghalibaf says Trump’s Strait of Hormuz blockade pushed oil to $120 and warns prices may rise to $140.

In a move that can be likened to a geopolitical “I told you so,” Mohammad Bagher Ghalibaf has stated that Donald Trump was able to increase oil prices to $120 through the US actions in the Strait of Hormuz and he went on to say that it might reach $140 too.

This is because confident predictions matched with increasing costs are two things that are highly appreciated by the global market.

Iran Claims Trump Blockade Pushed Oil to $120 Explained

The narrative behind Iran’s assertion that the blockade engineered by Trump led to an increase in oil prices up to $120 revolves around the Strait of Hormuz. This is one of the most important sea passages for oil transportation globally, where any disturbance or even its anticipation could spike prices up.

According to Ghalibaf, American measures such as squeezing supplies and raising expectations have added pressure on prices within the region.

To put it simply, when there are problems with the usual routes for oil transportation, prices become… optimistic.

Why Strait of Hormuz Tensions Affect Oil Prices

It is crucial to understand why disruptions in the Strait of Hormuz affect global oil prices. Approximately half of all the oil produced worldwide passes through this small strip of water every day.

Minor interruptions may cause significant speculation in world markets thereby forcing traders to increase prices expecting lack of supply.

Because fear is costly in oil trade alone.

“Next Stop $140” Oil Price Prediction Explained

The explanation for Iran’s prediction that the price of oil will hit $140 soon is not a statement but a warning. In his communication, Ghalibaf points out that if tensions rise further or there is continued limited supply, then there could be more increases in prices.

Although $140 per barrel sounds outrageous, similar levels have been witnessed in oil markets during crisis periods.

Because commodities follow through with what seems extreme.”

Impact of Rising Oil Prices on Global Economy

Rising oil prices at $120 and $140 levels can have a significant impact on the global economy. Elevated oil prices lead to increased costs of transport and production which are usually passed on as higher prices of commodities and services.

This may result in inflation and drag economic growth down affecting both advanced and emerging economies.

In simple terms, costly oil is hardly ever left on its own it spreads around.

Market Reaction to Iran Oil Price Comments

The market has responded cautiously but closely to the statement on oil prices by Iran and the news of Trump’s blockade. Traders and analysts are closely monitoring developments in the region, as geopolitical statements can influence market sentiment.

Although words alone cannot shift markets, they may aggravate prevailing worries.

This is because at times, just a word is sufficient to push around an already jittery market.

US-Iran Tensions and Energy Markets

The effect of US Iran tensions on global energy markets explained remains one of the key factors affecting oil prices. Political statements, military activity, and policy decisions all contribute to uncertainty.

These developments are closely watched by energy markets since any disruption in supply could lead to immediate impact.

This is because when you mix geopolitics with energy, there will always be volatility.

What This Means for Consumers

The perspective on how rising oil prices affect consumers globally in 2026 is simple. Increased fuel costs due to high oil prices may affect daily expenses and cost of living in general.

The ripple effects go from transportation to groceries and beyond.

This is because your wallet usually notices when oil prices go up.

The Bigger Picture

It shows that geopolitics still plays a significant role in determining energy market dynamics. Although supply and demand fundamentals matter, political events also have a great impact most times.

As long as there are tensions developing, markets will react sometimes very drastically.

The Bottom Line

Iranian Parliament Speaker Mohammad Bagher Ghalibaf’s claim that Trump’s actions pushed oil to $120 and warning of a potential rise to $140 underscores the fragile state of global energy markets. Regardless of whether prices hit such levels or not, it is evident that geopolitical tensions are still powerful determinants of oil prices.

After all is said and done, oil markets follow more than just supply and demand; they follow news too.