Tehran:
Iran’s parliament speaker, Mohammad Bagher Ghalibaf, mocked US President Donald Trump’s warning to block the ships entering or leaving the Strait of Hormuz, reminding the White House of rising gas prices in the US. He shared an image of current petrol prices near the White House, warning Americans that they ‘will miss them’ soon. The warning came as the US military announced it would begin implementing a blockade of all maritime traffic entering Iranian ports from Monday evening (Iranian time).
“Enjoy the current pump figures,” Ghalibaf wrote in a post on social media platform X. “With the so-called ‘blockade’, soon you’ll be nostalgic for $4-$5 gas.” FOLLOW LIVE UPDATES
He also shared an equation “ΔO_BSOH>0 ⇒ f(f(O))>f(O)”, accompanied by a screenshot of Google Maps showing American gas prices, aiming to warn US consumers about future price hikes.
Enjoy the current pump figures. With the so-called ‘blockade’, Soon you’ll be nostalgic for $4–$5 gas.
ΔO_BSOH>0 ⇒ f(f(O))>f(O) pic.twitter.com/rVxlC6vFWG
— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) April 12, 2026
According to X users, the equation suggests that if the severity of the Hormuz blockade increases (Delta O_{BSOH}>0), it will produce a compounding, non-linear spike in oil prices (f(f(O))>f(O)), rather than a simple 1-to-1 increase.
“Translation: supply gets constrained → prices rise → pressure compounds. First shock raises prices. The reaction to that shock raises them again. Enjoy your cheap gas while it lasts,” wrote an X user, referring to Ghalibaf’s post.
Trump’s Warning
US President Donald Trump said the American Navy would swiftly begin a blockade of ships entering or leaving the Strait of Hormuz, after US-Iran ceasefire talks in Pakistan ended without an agreement.
US Central Command announced that it will blockade all Iranian ports beginning Monday at 10 am EDT, or 5:30 pm in Iran.
CENTCOM said the blockade will be “enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman.” It said it would still allow ships travelling between non-Iranian ports to transit the Strait of Hormuz.
https://t.co/YAFhMBm7hA
— U.S. Central Command (@CENTCOM) April 12, 2026
“Additional information will be provided to commercial mariners through a formal notice prior to the start of the blockade. All mariners are advised to monitor Notice to Mariners broadcasts and contact U.S. naval forces on bridge-to-bridge channel 16 when operating in the Gulf of Oman and Strait of Hormuz approaches,” it added in a post on X.
US Oil Prices
The US oil benchmark rebounded above $100 a barrel on Monday, with Trump ordering a blockade of Iranian ports. Shortly after trading began, a barrel of West Texas Intermediate (WTI) for May delivery rose around eight per cent to $104.50, while June delivery of international benchmark Brent rose seven per cent to $102.
In early trade in Asia, South Korea’s benchmark Kospi index fell two per cent, before recovering slightly, while Japan’s Nikkei was down 0.3 per cent.
Oil prices had sunk and stocks soared last week after Trump agreed to a two-week ceasefire mediated by Pakistan, despite its tenuousness becoming quickly apparent as Israel continued to strike Lebanon and the Strait of Hormuz remained effectively closed.
Islamabad Talks
Talks in Islamabad on a long-term deal, led by US Vice President JD Vance and Iran’s parliament speaker, failed to result in a deal, with both sides expressing pessimism.
Iran’s speaker Qalibaf said the talks in Pakistan were “intensive, serious and challenging,” and that Iran’s negotiators “designed strong initiatives to demonstrate Iran’s goodwill, which led to progress.” He did not describe the progress made during the talks nor Iran’s strong initiatives.
US Vice President JD Vance’s goal in the talks with Iran was to outline America’s red lines and where there was room to negotiate. But Iran’s delegates could not agree to all of the stated red lines.
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