Mehdi Moshrefi, an oil market expert, said that despite attacks on several ships in the region over the past 24 hours, the price of Brent oil has risen by only about 38 cents, and the market’s reaction to the tensions has been less than expected by the Islamic Republic.

He added that banks, investors, and large financial institutions play an important role in developments in the energy market and are trying to limit price fluctuations. According to Moshrefi, the Islamic Republic cannot simply, through threats to the Strait of Hormuz and by increasing attacks on ships, bring the global oil price to the level it wants.