As tensions between the US and Iran persist over the Strait of Hormuz blockade, Iranian parliament speaker Mohammed Bagher Ghalibaf has claimed that Washington is 'bragging about holding the cards.'
Ghalibaf shared a new 'formula' on X, which appears to refer to the US's oil reserve claims.
SOH (partly played)+BEM(unplayed)+Pipelines(unplayed)= Inv Release (played)+Demand Destruction (partly played)+⏳More Price Adj (to come),
the Iranian leader shared.
The equation has been divided into two parts to represent the two parties at war - Washington and Tehran.
For 'Inv Release (played)+Demand Destruction (partly played)+More Price Adj (to come)', Ghalibaf makes reference to the strategic petroleum reserve releases of the US, which have already been spent, demand destruction, which has only been partly absorbed, and further price adjustments still ahead.
Meanwhile, for Iran - 'SOH (partly played)+BEM(unplayed)+Pipelines(unplayed)'. In this, the Iranian leader makes reference to the physical card which Iran holds, which is -SOH - Strait of Hormuz, BEM - Bab el-Mandeb, Pipelines - Oil pipelines.
Iran has defined the Hormuz Strait, through which 20 per cent of the world's oil and gas supply flows, as only 'partly played,' referring to the ongoing blockade.
Meanwhile, the Bab-el Mandeb Strait or 'gate of tears' and oil pipelines are cards Iran is yet to 'play.'
In this new formula, the Iranian leader has a warning for American consumers about the consequences of the ongoing war waged by the US and Israel, with a reference to upcoming 'summer vacations.'
The 'summer vacation' jibe refers to the seasonal demand that arises when schools close for the summer.
This is also when fuel consumption rises in the US due to travel and cooling needs.
This jibe refers to the rising oil prices.
On Monday, as peace talks remain stalled, Brent Crude climbed $2.16, or 2.05%, to $107.49 a barrel, its highest level since April 7.
Meanwhile, West Texas Intermediate (WTI) rose $1.77, or 1.88%, to $96.17 a barrel, according to Reuters.
