Iran says Strait of Hormuz will not reopen under pressure
Tehran repeats its blockade stance as tanker traffic stays near a standstill and an oil fund slips in pre-market trading.
Published
Map: The Gulf and Hormuz, marking Strait of Hormuz
Iran said the Strait of Hormuz will not be opened by threats or pressure, repeating the position it has held since late September that the blockade must be lifted before shipping resumes. Washington has rejected that sequencing.
Transit through the strait has fallen 80% from February levels. Tanker traffic is running near two vessels a day, against a pre-conflict average of 125. UKMTO has recorded seven vessel strikes near the strait since September 28, and Iran's Revolutionary Guard Corps has warned ships against using the US-backed transit route.
The United States is reinforcing forces near the strait. It evacuated 12 B-1 bombers from RAF Fairford over an Iran attack threat, and Trump rejected a ceasefire offer days before a Friday cabinet meeting on Iran. Iranian President Pezeshkian has said nuclear talks have preceded strikes rather than stopped them, and Iran has blamed a tanker strike on UAE-linked vessels.
Inside Iran, inflation is nearing 90% and the rial has fallen 25% in two months. Bloomberg estimates no crude left Iran by tanker in September. With traffic still near a standstill, Iran's statement points to no near-term easing, keeping the oil risk premium tied to the strait intact and leaving wider risk sentiment exposed to any further strikes.