Shafaq News- Washington
US President Donald Trump said Thursday that Iran was doingeverything it could to drive up oil prices ahead of the US midterm elections byfabricating attacks, despite more oil passing through the Strait of Hormuz nowthan before the conflict began.
Meanwhile, US Central Command (CENTCOM) said its “SteelWall” naval blockade against Iran had reached its 100th day since US forcesresumed the operation, claiming that the blockade had prevented Iran fromexporting at least $25 billion worth of crude oil and restricted the IslamicRevolutionary Guard Corps (IRGC) from financing proxy militias, criminalnetworks, and terrorism.
Today marks 100 days since CENTCOM forces resumed America's steel wall naval blockade against Iran. This effort has helped prevent Iran from exporting at least $25 billion worth of crude oil and constrained the IRGC's ability to fund proxy militias, criminal networks, and terrorism. There have been no exports or imports to Iran by sea except for the humanitarian aid U.S. forces have allowed.
— U.S. Central Command (@CENTCOM) October 22, 2026Iranian National Security Council Secretary Mohsen Rezaei affirmedthat Iran will not return to negotiations or reopen the Strait of Hormuz untilits seven conditions are met, adding that Washington’s compliance with itscommitments could pave the way for reopening the strategic waterway.
Brent crude prices rose 2% to their highest levels in fivemonths, as renewed attacks by Yemen’s Houthi group on Saudi Arabia fueledconcerns about further disruptions to Middle Eastern oil supplies.
Brent futures rose $2.24, or 2.2%, to $111.24 per barrel by5:45 p.m. Baghdad time, while U.S. West Texas Intermediate (WTI) crude gained$1.14, or 1.2%, to $98.29 per barrel.
The increase pushed Brent into technically overboughtterritory for the third time in a week, with the benchmark on track to recordits highest close since May 18.
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