Iran's Islamic Revolutionary Guard Corps (IRGC) has threatened to close "all other export corridors that benefit the US and its allies," Iranian media reported, following Iran's closure of the Strait of Hormuz and the U.S. reimposition of a naval blockade on Iranian ports.
The IRGC stated that "regional energy exports are either shared by all, or denied to all," according to a statement carried by Iran's IRNA state news agency. Analysts suggest Iran may leverage its Houthi allies in Yemen to disrupt shipping through the Bab el-Mandeb Strait, a vital gateway to the Red Sea, potentially impacting global energy supplies.
A senior Houthi official warned that the group is prepared to close the Bab el-Mandeb Strait if Saudi Arabia continues its attacks on Yemen, a move that could send oil prices soaring. Houthi forces recently fired missiles at Saudi Arabia, breaking a four-year truce, after accusing the kingdom of bombing an airport under their control. The Houthis have previously demonstrated their ability to disrupt global commerce through the Bab el-Mandeb, particularly since October 2023, by targeting vessels linked to Israel in support of Palestinians.
The escalation follows recent U.S. military strikes aimed at degrading Iranian capabilities used to attack commercial shipping in the Strait of Hormuz. The U.S. military reported hitting dozens of military targets near the strait and along Iranian coastlines over a seven-hour period. However, Iranian state media reported that at least 30 civilians were killed in recent days due to U.S. strikes on southern Iran, and Iran's army reported seven military personnel killed in overnight U.S. strikes on a base in the country's southeast.
Iran's Revolutionary Guards stated that the Hormuz Strait would remain closed until the United States ends its "acts of aggression." Approximately one-fifth of global oil and gas shipments passed through Hormuz daily before recent hostilities. The IRGC also claimed to have targeted U.S. Fifth Fleet facilities in Bahrain, a logistics facility in Kuwait, and a U.S. base in Jordan, alleging that some U.S. attacks were launched from bases in Jordan. Jordan's air defense intercepted three ballistic missiles entering its airspace from Iranian territory.
U.S. President Donald Trump previously threatened to strike Iranian energy targets and infrastructure if Tehran did not resume negotiations. Trump had also floated the idea of a 20% fee on shipping through the strait, a proposal that drew criticism and was later abandoned in favor of seeking investment deals with Gulf states.
Oil prices saw an increase on Wednesday, following a 2% rise on Tuesday, as disruptions in the Strait of Hormuz deepened supply concerns. Brent crude and West Texas Intermediate both closed at one-month highs on Tuesday and continued to rise in early Wednesday trading.