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TEHRAN, Iran — A defiant Iran called on the U.S.to “accept the reality of defeat and stop indulging in delusions” after President Donald Trump suggested that he would soon declare the Strait of Hormuz as a “territory of the United States.” The crucial waterway that handled one-fifth of the world’s oil before the war “cannot be seized with a tweet, nor with an aircraft carrier, nor by issuing an order, nor through an election speech,” Iran’s Deputy Foreign Minister Kazem Gharibabadi said in a post on X early Saturday.
“This strait will only be opened and closed under Iran’s command, and as long as you do not accept the reality of defeat and stop indulging in delusions, Iran will continue to enforce the blockade,” he added.With oil tanker traffic through the strategic strait at a trickle and peace talks between the U.S.and Iran at an impasse, there are few signs that the war, launched on Feb.
28, is close to being over.A 60-day negotiating period intended to hammer out a deal to end the conflict, set when Trump and Tehran signed a memorandum of understanding in mid-June, ends on Monday with few direct negotiations having taken place.Speaking Friday at a police academy in Nassau County, New York, Trump said Iran was being “very badly defeated,” and once victory was secured, “pretty soon, I’ll be declaring the Hormuz Strait a territory of the United States.” Urging Americans to accept slightly higher gasoline prices, he told the crowd of law enforcement officers that “a tiny little bit more” at the pump was worth the cost of ensuring “a very evil country” could not have a nuclear weapon, one of his stated reasons for the war.Global oil and gas markets have calmed since prices spiked at the start of the war, but prices are still significantly higher than before the conflict, and rose again early Friday.
Crude oil futures rose $1 a barrel on Friday while benchmark Brent futures were on track for a weekly rise of 6.0%, Reute...