Mohammad Bagher Ghalibaf, Iran’s chief negotiator and parliament speaker, said attempts to penalize Iran have instead contributed to higher oil prices.

“They wanted to punish Iran. Punished themselves with triple-digit oil instead. 10/10 strategy,” Ghalibaf said in a post on X.

His comments came amid continuing tensions around the Strait of Hormuz, a key passage for global crude oil shipments linking the Persian Gulf with open sea routes. Recent geopolitical frictions have reportedly pushed Brent crude prices to fluctuate between $76 and $86 per barrel, highlighting the sensitivity of oil markets to developments in the region.

Ghalibaf’s remarks point to the complicated relationship between sanctions policy and energy-market dynamics. Measures aimed at restricting Iranian exports can affect supply expectations as well as diplomatic signaling, while oil prices are also influenced by demand, inventories, production decisions and broader geopolitical risk. Iranian officials have previously argued that U.S. pressure measures have unintentionally helped support higher oil prices.

Market activity also reflects the view that geopolitical tensions can have a significant effect on crude pricing. Prediction-market pricing indicates a moderate expectation of further price increases if tensions persist.

Observers are watching developments in U.S.-Iran relations and the geopolitical situation around the Strait of Hormuz for potential effects on oil prices. Responses from OPEC and major energy policymakers may also shape market expectations, while new statements from Iranian officials or changes in U.S. sanctions policy could provide further signals for energy markets.