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Iran issues warning on oil prices after Trump’s Hormuz blockade threat

Iran has warned of a sharp rise in oil prices after the US threatened to blockade the Strait of Hormuz following failed negotiations.

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Iran warning

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf has issued a sharp warning to the United States over rising oil prices, mocking President Donald Trump’s threat to impose a naval blockade in the Strait of Hormuz.

The warning comes after the US announced plans to block maritime traffic linked to Iranian ports following failed ceasefire talks in Pakistan.

Ghalibaf took to social media to highlight current fuel prices in the US, cautioning that Americans may soon “miss” them if the blockade is enforced. He suggested that the move could trigger a sharp spike in petrol costs.

‘Enjoy current fuel prices’ warning

In his post, Ghalibaf shared an image of petrol prices near the White House and wrote that consumers should enjoy current rates while they last, indicating that prices could rise significantly due to supply disruptions.

He also posted a mathematical expression — “ΔO > 0 ⇒ f(f(O)) > f(O)” — which analysts interpreted as a warning that any increase in disruption at the Strait of Hormuz could lead to a compounding surge in oil prices rather than a gradual rise.

US moves to enforce blockade

The US military has said it will begin enforcing the blockade on vessels linked to Iranian ports, covering areas across the Arabian Gulf and Gulf of Oman. The move follows the collapse of negotiations between Washington and Tehran in Islamabad, where both sides failed to reach an agreement.

Officials clarified that the blockade would apply to ships entering or leaving Iranian ports, while vessels transiting between non-Iranian ports may still be allowed passage through the Strait.

Oil prices surge amid global concerns

Global oil markets reacted sharply to the escalation. Benchmark crude prices rose above $100 per barrel, reflecting fears of supply disruption in one of the world’s most critical oil transit routes.

The Strait of Hormuz is a key global chokepoint, handling a significant share of the world’s oil supply, and any disruption there can have widespread economic consequences.

Talks fail despite ‘progress’

Iran described the talks in Pakistan as “intensive and serious,” stating that it had presented proposals showing goodwill. However, US officials indicated that Tehran did not agree to key conditions, leading to a breakdown in negotiations.

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US carries out fresh strikes in Iran, downing drones near strategic Strait of Hormuz

The US military launched overnight defensive strikes targeting an Iranian military facility and shot down four attack drones near the Strait of Hormuz, highlighting the vulnerability of ongoing peace negotiations.

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Donald Trump statement

The US military launched overnight strikes inside Iran, targeting a military installation and intercepting multiple attack drones near the critical Strait of Hormuz. The operation comes amid intense diplomatic efforts to end a three-month-old war that has severely impacted global energy markets.

According to media reports citing US officials who spoke on condition of anonymity, American forces shot down four one-way attack drones. Additionally, a ground control facility located in the southern Iranian port city of Bandar Abbas—which was reportedly preparing to launch a fifth drone—was struck. Local residents in Iran reported hearing three distinct explosions east of Bandar Abbas around 1:30 AM local time, prompting the temporary activation of local air defense systems.

Focus on maintaining the ceasefire

US Central Command later confirmed the targeted actions, stating that the intercepted drones posed an immediate threat to American personnel and commercial shipping vessels operating near the strategic waterway. Officials described the intervention as a measured, defensive response aimed strictly at safeguarding international transit routes and preserving the active, yet fragile, ceasefire arrangement.

The Strait of Hormuz serves as a vital artery for global commerce, accounting for nearly one-fifth of global oil shipments before hostitilies erupted on February 28.

Strains on ongoing diplomatic talks

These recent military developments occurred against the backdrop of sensitive negotiations aimed at formalizing a permanent peace agreement. Earlier this week, the US conducted similar self-defense strikes against vessels allegedly deployed to lay naval mines, drawing sharp condemnation from Tehran, which labelled those actions a breach of the ceasefire.

Diplomatic tensions were further compounded on Wednesday when US President Donald Trump publicly dismissed reports claiming that Iran and Oman would jointly manage shipping operations through the Strait of Hormuz under a proposed peace deal, asserting instead that the international waterway must remain entirely open.

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Byju’s founder Byju Raveendran sentenced to six months in jail by Singapore court over asset orders

In a major setback, a Singapore court has sentenced Byju’s founder Byju Raveendran to six months in prison for contempt after he failed to comply with multiple court orders regarding his assets.

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In a massive legal blow to the founder of the failed Indian educational technology firm Think & Learn Pvt (better known as Byju’s), a Singapore court has sentenced Byju Raveendran to six months in jail for contempt of court.

The court ordered the jail term after concluding that Raveendran had deliberately disobeyed multiple judicial directives regarding his personal assets, dating as far back as April 2024.

Disobedience of asset orders leads to prison sentence

According to people familiar with the matter, the Singapore court has instructed Raveendran to immediately surrender himself to the officials. Alongside the six-month prison sentence, the Byju’s founder has been ordered to pay legal costs amounting to S$90,000 (approximately $70,500). Furthermore, he has been mandated to provide documents verifying his official legal ownership of Beeaar Investco Pte, a corporate entity that holds equity shares in a related firm.

At the time of reporting, it remains unclear whether Raveendran is currently residing in Singapore or located elsewhere, and he did not immediately respond to requests for comment.

Escalating global legal battles

This sentencing marks the latest and perhaps most severe setback for the entrepreneur, who once achieved billionaire status amid a massive wave of global capital flowing into Indian start-ups. Today, Raveendran is being rigorously pursued by foreign investors across international jurisdictions. This includes intensifying legal battles in the United States, where global lenders are actively trying to recover heavy financial losses stemming from a defaulted $1.2 billion loan.

Media reports indicate that the ongoing Singapore court proceedings represent a broadening web of legal and financial crises following the operational collapse of the once-celebrated edtech giant.

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US hits Iranian missile sites and mine-laying boats near Strait of Hormuz amid peace talks

US Central Command executed targeted strikes against Iranian missile launch sites and mine-laying vessels near Bandar Abbas, testing a fragile ceasefire even as high-stakes diplomatic talks continue in the region.

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In a major development testing a fragile regional ceasefire, the United States military carried out targeted strikes in southern Iran on Monday. The operation hit missile launch sites and vessels allegedly attempting to lay mines near the crucial Strait of Hormuz, according to statements from the US Central Command (CENTCOM).

The military action took place near Bandar Abbas, a prominent southern port city hosting a primary Iranian naval base. Media reporting indicated that explosions were heard across multiple coastal locations, including Sirik and Jask.

Focus on ‘Self-Defense’ Amid Active Ceasefire

A spokesperson for CENTCOM, Capt. Tim Hawkins, confirmed that the engagement was defensive in nature. “US forces conducted self-defense strikes in southern Iran today to protect our troops from threats posed by Iranian forces,” Hawkins stated. He noted that the operational targets included active missile launch sites alongside Iranian boats attempting to emplace naval mines. Despite the escalation, CENTCOM emphasized that it continues to exercise restraint under the parameters of the ongoing ceasefire brokered in early April.

According to media reports, the tactical response was triggered when two Islamic Revolution Guard Corps (IRGC) boats were detected laying mines in the strategic shipping lane. Additionally, a surface-to-air missile site reportedly targeted American warplanes, prompting US forces to neutralize both the vessels and the missile installations. Media channels citing local updates indicated that four individuals were killed in the strikes, though the complete casualty figures remain unverified.

Diplomatic Dialogue Continues in Parallel

The strikes coincide with a critical phase of diplomatic negotiations aimed at extending the current truce. Top Iranian negotiators traveled to Qatar early this week to discuss a potential 60-day extension of the ceasefire, alongside provisions to keep the Strait of Hormuz fully operational for global trade.

US officials maintain that the military action does not signal an end to the active truce. A senior administration source clarified that the specific operations are “over for now”. US Secretary of State Marco Rubio, speaking from India, affirmed that diplomatic channels remain open and active. Rubio stated that intensive language discussions regarding the initial documents are ongoing, reiterating that the opening of the strategic strait remains a core objective.

Meanwhile, political leaders in Washington have separately reiterated demands for the secured disposal or international transfer of enriched uranium stockpiles as part of any comprehensive long-term agreement.

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