Araghchi Accuses US Officials of Manipulating Energy Markets

By Staff, Agencies

Iranian Foreign Minister Abbas Araghchi said US government officials are manipulating energy markets for personal gain while using media narratives to keep President Donald Trump mired in what he described as a "losing war."

In a post on X on Saturday, Araghchi said Iranian intelligence had detected "major efforts" to manipulate energy markets, accusing elements within the US government of using "gullible media" to influence energy prices for personal benefit.

He also accused actors aligned with "Israel" of promoting the continuation of the war by providing what he called "rosy assessments" of the situation.

"US consumers feel the real bottom line," Araghchi said, as oil markets remain highly sensitive to developments surrounding the Strait of Hormuz.

Iran has kept the strategic waterway closed since the early stages of the war, with Iranian authorities repeatedly stating that normal navigation will resume only after the United States ends its aggression and lifts sanctions and the blockade against Iran.

Under peacetime conditions, roughly one-fifth of global oil supplies and one-third of global agricultural fertilizer trade pass through the Strait of Hormuz.

The disruption and resulting rise in the cost of basic goods have affected consumers not only in the United States but also across Europe and other parts of the world.