Qalibaf Mocks US Efforts to Control Rising Oil Prices

TEHRAN: Iranian Parliament Speaker Mohammad Baqer Qalibaf has criticised Washington’s efforts to contain rising global oil prices, saying measures including market intervention and the release of strategic petroleum reserves have failed to reverse the upward trend.

In a post on social media platform X, Qalibaf mocked US efforts to bring down oil prices, saying the US Treasury would gradually use every tool available to it in an attempt to control the market.

However, he argued that none of these measures would be enough to change the underlying upward trend in crude oil prices.

Qalibaf said Washington’s available measures included what he described as misleading reports circulated through Axios, intervention in oil markets, the release of strategic petroleum reserves and other economic measures.

He said the United States could continue using these tools one after another, but would still be unable to reverse the rise in crude prices.

The Iranian parliament speaker suggested that markets should prepare for continued volatility and uncertainty in oil prices.

Qalibaf’s comments come as global oil markets remain under significant pressure amid heightened tensions in the Middle East and concerns over disruptions to energy supplies.

The Strait of Hormuz remains a major factor in the outlook for international oil prices because of its importance to global crude shipments.

Qalibaf said Washington’s attempts to manipulate or stabilise the market would not be enough to overcome the wider pressures affecting oil supplies.

He ended his message with a sarcastic warning to the United States, suggesting that Washington should avoid pretending to know exactly where oil prices are heading.

The remarks reflect Tehran’s increasingly critical response to US efforts to manage the economic impact of the ongoing regional conflict and rising energy prices.