TEHRAN -- Iran’s Parliament Speaker Muhammad Bagher Ghalibaf on Thursday mocked Washington’s efforts to curb rising oil prices, saying U.S. measures, including market interventions and the release of strategic reserves, have failed to stop the surge in crude prices.

Reacting to Brent crude climbing above $107 a barrel on Thursday, Ghalibaf took a swipe at Washington’s efforts on X, writing: “Here is your daily dose of ‘forward guidance,’ in case you do not hear from your regime authorities: the arsenal they will exhaust and the exact order they will run through it.”

He said the U.S. Treasury would run through its “arsenal” of measures to bring oil prices down, including “false reporting through Axios, market intervention, the release of reserves and other measures,” but would ultimately fail to reverse the rise.

“Act like you do not know what comes next,” Ghalibaf added, referring to the graph showing the expected trajectory of oil prices.

Oil prices have surged since the U.S.-Israeli war against Iran and the subsequent closure of the Strait of Hormuz by Iran’s Armed Forces.

The waterway is crucial to global energy markets, normally carrying roughly one-fifth of the world’s oil and liquefied natural gas supplies.

The price surge has also hit American consumers, with gasoline prices reaching around $4.28 per gallon, roughly 34 percent higher than a year earlier, underscoring the growing cost of the energy crisis in the U.S. The motor club said Thursday that diesel prices reached $5.98 per gallon, a record.

Global oil prices surged Thursday after U.S. President Donald Trump said the night before that he isn’t looking to reach a deal with Iran as fighting between the countries escalated this week.

Brent crude, the global benchmark, rose nearly 6% to more than $107 per barrel on Thursday, while West Texas Intermediate, the U.S. benchmark, also 

popped about 6% to close to $102 per barrel.
Daan Struyven, Goldman Sachs’ head of global commodities, told CNBC that an escalating U.S.-Iran war could push oil prices to more than $120 per barrel.
S&P Global Energy said Thursday it doesn’t expect oil output in West Asia to return to pre-war levels by the end of 2027. The firm also doesn’t believe a definitive end to war or shipping through the Strait of Hormuz to return to normal levels by the end of next year.