Oil Hits $117 as Iran Says US Navy Barred From Gulf

Brent crude oil prices climbed to approximately $117 per barrel on Saturday, marking the highest level since April. The surge followed a declaration by Iranian military leadership that United States warships are no longer welcome in the Persian Gulf. The price spike reflects growing fears that the eight-month conflict will intensify after a pause in direct exchanges.

Ali Abdollahi, the chief of general staff of Iran's armed forces, stated that the US Navy cannot re-enter Iranian territorial waters or surrounding areas. "The US president can only dream of their soldiers and military again entering the Persian Gulf," Abdollahi said in a statement carried by state media on Saturday morning. He argued that Washington's hesitation to move aircraft carriers closer to Iranian territory proves that US rhetoric about destroying Iranian capabilities is contradictory.

President Donald Trump indicated on Friday that the United States has not yet decided on its next move in the conflict. Speaking at a rally in Florida, Trump said the US military "may do another Epic Fury," referencing the large bombing campaign launched at the start of the war. He weighed whether to end the fighting with massive strikes or continue the current naval blockade and sanctions.

Shipping in the Strait of Hormuz remains under pressure. The Islamic Revolutionary Guard Corps reported that seven tankers were attacked or hit mines overnight into Thursday. On Friday, the group claimed two supertankers struck mines. These incidents have contributed to the volatility in global energy markets.

Fighting continues on other fronts as well. The Iran-allied Houthis in Yemen struck Riyadh on Saturday, following recent attacks on Dammam's international airport and the Shaybah oilfield. In southern Lebanon, Israeli air strikes hit areas around Nabatieh, while artillery fell near Zawtar ash-Sharqiyah. In the occupied West Bank, Israeli Prime Minister Benjamin Netanyahu ordered a lockdown after a Palestinian attack killed two soldiers in Hebron. Netanyahu faces an election on October 27.

Diplomatic efforts have stalled. Senior diplomats from Turkiye, Saudi Arabia, Pakistan, and Egypt met with counterparts from the UK, France, Germany, and Italy in Istanbul on Friday. The United States and Iran were not present. Hakan Fidan, Turkey's Foreign Minister, said a new attack on Iran "would widen the war and spread the conflict across the region." He added that "no one is endorsing it at this point."

Iranian state-linked media reported that Tehran has activated a "dead hand" doctrine. This protocol would allow attacks on US, Israeli, and regional interests to continue from all 31 provinces if senior leaders are assassinated. Axios, citing US intelligence, reported on Saturday that Iran has "substantially increased" efforts to strike American officials in the Middle East and elsewhere.