Iran’s Foreign Minister Abbas Araghchi warned the United States on Monday that Tehran still has “many surprises” amid escalating regional tensions. The statement came nine days into what he called “Operation Epic Mistake,” which he said has already doubled oil prices. Araghchi’s warning highlights rising friction over US actions targeting Iran’s oil and nuclear sites.
In a post on X, Araghchi claimed the US plotted to contain an inflationary shock while Iran remains fully prepared. He added that Tehran’s response would include “many surprises,” signaling a hardline stance by the new Iranian leadership. The comment follows the recent appointment of Mojtaba Khamenei as supreme leader, succeeding his father Ali Khamenei.
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Global markets reacted to the announcement, with crude oil futures soaring nearly 30% in one day. Brent crude rose almost 13% to $104.5 a barrel, while US WTI futures climbed 12% to $101.8. Analysts warned that surging oil prices could trigger higher global inflation, increasing costs of gasoline, jet fuel, and other commodities.
Investors also fled to the US dollar as a safe haven amid the market uncertainty. Araghchi’s warning and Tehran’s hardline appointments have fueled concerns of prolonged instability in the Middle East. Economic experts caution that global supply chains and energy markets remain vulnerable to further escalation.
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The escalating situation comes just days after Iran named Mojtaba Khamenei as the new supreme leader. Trump had previously criticized the appointment as “unacceptable,” and Araghchi’s statements suggest that Tehran is prepared to defend its interests while maintaining a confrontational posture with the US.