President Donald Trump and Iran's new supreme leader both struck defiant tones on the 13th day of the war, offering little relief to energy markets despite fresh US efforts to curb oil prices.
The American president said in a social media post Thursday that preventing Iran from having nuclear weapons and threatening the Middle East is "of far greater interest and importance to me" than the cost of oil.
Mojtaba Khamenei said the Islamic Republic would seek to ensure the Strait of Hormuz remains effectively closed. In his first public comments since succeeding his father, he added that Tehran would look to open other fronts in the war if the US and Israel persist with their attacks.
Oil prices rose more than 9% on Thursday with Brent crude ending the session above $100 for the first time since August 2022. US crude futures also settled at the highest levels in more than three years.
The blockage of the Strait of Hormuz has disrupted millions of barrels a day of supply and caused what the International Energy Agency described as the biggest hit to global production on record. A series of moves from the Trump administration and other governments aimed at lowering energy costs also did little to dent oil's rally.