Ghalibaf: US Treasury interventions, media leaks cannot stem rising oil prices

Tehran - BORNA - In a post on social media platform X, Ghalibaf shared a chart depicting energy market trends, asserting that Washington’s attempts to manipulate oil prices have proven ineffective. Addressing market participants in light of US economic leadership’s reluctance to provide clear forward guidance, Ghalibaf noted that the US Treasury would exhaust its array of tools—including market interventions, Strategic Petroleum Reserve (SPR) drawdowns, and media leaks—without achieving price stabilization.

The Iranian official’s remarks made reference to US Federal Reserve Chair Kevin Warsh’s known skepticism toward forward guidance, as well as US Treasury Secretary Scott Bessent’s market strategy. Ghalibaf argued that energy markets have become desensitized to Treasury messaging, pointing out that Bessent's aggressive SPR releases and media leaks—such as false reports regarding the reopening of the Strait of Hormuz—have failed to halt price growth.

Ghalibaf warned that Washington’s continued reliance on coercive policies, refusal to recognize the rights of the Iranian nation, and failure to honor its commitments will ultimately lead to the depletion of US strategic reserves while pushing prices higher. He concluded by advising market actors to prepare for elevated oil prices unless the US government fundamentally alters its approach.

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