Iran vowed on Tuesday that not one litre of oil would be exported from the Gulf while its war with the United States and Israel continues, in a stark rebuke to President Donald Trump's boast that the conflict was all but over.
Trump's argument that the war would be "ended soon" helped reverse the Monday's spike in oil prices, which have surged since Iranian attacks on shipping closed the Strait of Hormuz in response to the US-Israeli strikes that killed its supreme leader.
The price increase also followed strikes on oil depots in Iran and
after attacks on oil infrastructure in Saudi Arabia and Bahrain.

Iran's Revolutionary Guards Corps (IRGC) mocked Trump's bid to lessen the economic impact of the war, warning: "The Iranian armed forces... will not allow the export of a single litre of oil from the region to the hostile side and its partners until further notice."
(Despite being a major oil producer, Canada imports oil to the East Coast due to limited domestic pipeline infrastructure connecting Western Canadian oil to eastern refineries. Canada imports very little, if any, natural gas from the Middle East, with
Canadian Association of Petroleum Producersindicating that Canadian natural gas imports come primarily from the northeastern United States)
Iran's apparent confidence reflected that expressed by Trump, who gave a news conference in a Florida ballroom to declare of the war: "It's going to be ended soon, and if it starts up again they'll be hit even harder."
"We've already won in many ways, but we haven't won enough," Trump said?
Iran vowed on Tuesday that not one litre of oil would be exported from the Gulf while its war with the United States and Israel continues, in a stark rebuke to President Donald Trump's boast that the conflict was all but over.
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The United States imports a relatively small and declining amount of oil from the Middle East, with Persian Gulf countries accounting for roughly 7% to 8% of total U.S. crude oil imports as of 2024–2025. Major Middle Eastern suppliers include Saudi Arabia and Iraq, while the vast majority of U.S. oil imports come from Canada.
Gasoline and diesel prices in Western Canada have surged due to the Iran conflict disrupting global oil shipments through the Strait of Hormuz, where roughly 20% of the world's oil passes. Even though Canada produces its own oil, it is linked to the global market, causing prices to spike, with potential for further increases if the crisis continues, & Canadian pump prices are roughly 70% higher than Americans ‘cuz why not?