Iran's New Leader Speaks for the First Time: Vows to Pursue Revenge to the End, Strait of Hormuz Blockade Continues!

Huitong Finance APP News — As the conflict between Israel, the U.S., and Iran in the Middle East intensifies, Iran’s new Supreme Leader Mojtaba Khamenei delivered his first public speech on Thursday via national television. He declared a firm stance to continue fighting and emphasized that blocking the Strait of Hormuz remains a key leverage against the U.S. and Israel.

Since the U.S.-Israeli airstrikes on Iran on February 28 triggered this war, over 2,000 people have been killed, and global energy supplies face one of the most severe disruptions in history.

Oil prices, which had briefly fallen earlier this week due to fleeting optimism, surged again past $100 per barrel, as market concerns over prolonged disruptions grew.

New Leader’s Tough Stance: Vowing to Avenge the Martyrs’ Blood

Mojtaba Khamenei did not appear in person; his speech was read by a host on Iranian state TV. Since the initial Israeli airstrikes that killed his father, wife, and most relatives early in the conflict, no images of him have been released. Iranian officials say he was lightly injured in the February 28 strikes, but details remain undisclosed.

His tone was extremely tough. Khamenei called on Iran’s neighboring countries to close U.S. military bases within their borders and warned that Iran will continue to strike these bases.

He stated, “I assure everyone that we will not rest until we avenge the blood of our martyrs.” He added, “The people demand that we continue effective defense and make the enemy regret. We must continue to use the blockade of the Strait of Hormuz as leverage.” The Strait of Hormuz, along Iran’s coast, is a critical route for about one-fifth of global oil transportation.

Iranian Foreign Ministry spokesperson Esmaeil Baghaei said some passage might still be possible if ships coordinate with the Iranian Navy. He added, “After the current developments, we generally cannot return to the state before February 28.”

Straits and Port Attacks Worsen Energy Crisis

The situation in the Strait of Hormuz remains uncertain.

On Thursday, two oil tankers caught fire at the port of Basra in Iraq after being attacked by suspected Iranian small boats loaded with explosives, resulting in at least one crew member death. Verified footage showed the ships engulfed in massive orange flames illuminating the night sky. Hours earlier, three other vessels in the Gulf region were attacked; the Iranian Islamic Revolutionary Guard Corps claimed responsibility for at least one: a Thai bulk carrier was set ablaze. Additionally, a container ship near the UAE was reported hit by unidentified projectiles.

These attacks are seen as blatant provocations against President Trump, who claimed on Wednesday that the U.S. had already won the war.

Oil prices surged again amid fears of supply disruptions, after a brief dip earlier this week on expectations that the conflict might end quickly.

Israel Escalates Offensive; Hezbollah Rockets Rained Down

On another front, Israel carried out an airstrike on a building in downtown Beirut on Thursday, with thick smoke rising over Lebanon’s capital. Israel also ordered residents to evacuate another southern region of Lebanon, where Iran-backed Hezbollah launched its largest barrage of rockets since the conflict began. In response, Israel’s offensive against the group has further escalated.

The war has so far caused over 2,000 deaths, nearly 700 of whom are in Lebanon.

Trump Downplays Oil Price Impact: U.S. Benefits from High Oil Prices

More drones have entered Kuwait, Iraq, the UAE, Bahrain, and Oman, contradicting claims by the U.S. and Israel that they have destroyed most of Iran’s long-range missile stockpiles. Iran previously stated it would not resume oil shipments through the Strait of Hormuz until the attacks cease.

Trump downplayed the impact of rising energy prices, tweeting, “The U.S. is the world’s largest oil producer, far surpassing other countries, so when oil prices go up, we make a lot of money.” He added, “As President, my main concern is stopping the evil Iranian regime from acquiring nuclear weapons.”

Although the U.S. is a net oil exporter, it remains the world’s largest oil consumer. Economists warn that sustained high oil prices could trigger widespread inflation.

In another statement, Trump said the Iranian national football team could participate in the 2026 World Cup co-hosted by the U.S., but he added it would be “inappropriate” for them to compete “for their own safety.”

Overall, Mojtaba Khamenei’s first public statement set a tough tone for Iran, emphasizing the blockade of the Strait of Hormuz as a long-term pressure tool, further fueling global energy market fears. Oil prices have returned above $100, with frequent port attacks and drone infiltrations indicating the conflict is far from over. Israel’s escalation against Hezbollah and Trump’s “benefit theory” of high oil prices highlight a deadlock in military and economic strategies.

The future situation heavily depends on whether the Strait’s passage can be restored, whether Iran and Israel-U.S. military confrontations de-escalate, and the effectiveness of international diplomatic efforts. If the blockade persists, global supply chains and inflation pressures will intensify, and investors should remain alert to the ripple effects of the energy crisis on financial markets.

Brent Crude Oil Daily Chart Source: Yihui Tong, March 13, 09:29 Beijing Time — Brent Crude Oil at $99.86 per barrel