Iran Threatens New 'Restricted Zone' Beyond Hormuz as Brent Crude Tops $97, Its Highest Close of the Crisis

Mohsen Rezaei, secretary of Iran's Supreme National Security Council, said in a Sunday interview -- widely reported Monday -- that Tehran will soon declare a 'restricted' (exclusion) zone beyond the Strait of Hormuz, starting from the line of the US Navy's blockade and extending into the Persian Gulf; any vessel entering without coordinating with Iran would be placed on Iran's sanctions list, a designation Rezaei said could affect insurance coverage and future passage rights. He tied any reopening of the strait to Washington ending the blockade, sanctions and regional military presence, and said new maps for the previously announced Iran-Oman transit corridor -- under Iranian management -- would be finalized 'in the coming days.' Al Jazeera analysts, including Stephen Zunes of the University of San Francisco, questioned enforceability, noting Iranian assets attempting to police the zone would be 'very vulnerable to US attacks.' The threat added fresh risk premium to oil markets already reeling from the weekend's US-Iran tanker strikes: Brent crude extended its rally to $97.68/bbl Monday (+1.45%), its highest close of the crisis, while WTI rose to $92.99. US Energy Secretary Chris Wright said roughly 9 million barrels/day were still transiting under the US-led escort regime -- about two-thirds of pre-war flow -- a figure far above Kpler's independent count of single-digit vessel crossings per day, underscoring the continuing dispute over how open the strait actually is.