LIVE: Iran expects war with Trump to escalate within the next 24 hours

Iran has warned that American forces must leave the Middle East or face military action, as fresh attacks across the region send oil prices sharply higher.

Iranian Army spokesperson Mohammad Akraminia said Friday that Tehran would reopen the Strait of Hormuz if Washington withdrew its forces, arguing that countries in the region could handle their own security.

“If America leaves the region, the Strait of Hormuz will reopen and collective security will be established with the participation of the region’s countries, and the global economy will improve,” Mohammad wrote on X. “If it doesn’t leave, we’ll expel it.”

Mohammad also pushed back against Trump’s claims about Iran’s military strength, telling Mehr News Agency that:

“Despite Trump’s repeated allegations, Iran’s current air defense capabilities far surpass pre-war and wartime levels,” he said.

The threats come as fighting around the Strait of Hormuz continues to shake global energy markets. Brent crude briefly touched $110 per barrel on Friday, its highest level since May, before closing 3.7% higher at $109.86.

West Texas Intermediate (WTI) also gained 3.5%, finishing at $101.41 per barrel. For the week, WTI climbed more than 10%, while Brent gained almost 5%.

The situation is also becoming increasingly difficult for Saudi Arabia. The Saudi military claimed that it managed to intercept a number of missiles fired over the Red Sea on Friday, one of which was heading towards the Yanbu oil export terminal.

Three drones were reportedly destroyed near Riyadh and the country’s southern parts.

Iran-aligned Houthi militants continue to attack the kingdom this week. According to the Saudi energy ministry, on Tuesday, there was an attack on an administrative building of oil company Saudi Aramco in Dhahran.

The militants also attacked the international airport of Riyadh on October 10, killing 12 people and wounding 300.

At the same time, the amount of oil going through the Strait of Hormuz is decreasing again, after reaching pre-war levels in September.

According to Kpler, the research firm for energy markets, during the week ended on Wednesday, the volume of crude oil exports was 9.4 million barrels per day, about 70% of pre-war levels.

The trouble isn’t limited to the Middle East. Trump’s proposed energy ceasefire between Russia and Ukraine has already fallen apart, with Moscow continuing to target Ukrainian infrastructure despite the attempted agreement.

Ukrainian President Volodymyr Zelenskyy said Kyiv would respond by resuming attacks on Russian oil refineries.

Those strikes, combined with Iranian attacks on Middle Eastern energy facilities, have pushed U.S. diesel prices much higher this year.

According to AAA, diesel averaged $6.33 per gallon on Friday, more than 70% higher than during the same period last year.