Iran’s President Masoud Pezeshkian said the US has no justification to deny Tehran its nuclear rights, highlighting continued friction between Washington and Tehran.
Iran reversed the reopening status of the Strait of Hormuz amid disagreements over the US naval blockade, raising concerns about disruptions to global oil supply routes.
Analysts expect crude oil prices and equities to remain sensitive to developments, with the two-week ceasefire set to expire on April 22 and foreign investor flows likely to track global risk sentiment.
Global Markets Brace as Iran-US Nuclear Dispute Intensifies Over Hormuz Blockade
Tehran pushes back against Washington over nuclear rights as tensions around the Strait of Hormuz fuel concerns of crude price spikes and global market volatility
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Iran’s President Masoud Pezeshkian has said that US President Donald Trump has no justification to deny Tehran its nuclear rights, underscoring continuing tensions between the two countries over the issue. On Saturday, Iran reversed the reopening status of the Strait of Hormuz, citing disagreements with the US over the naval blockade of the critical waterway.
Last week, US President Donald Trump announced that the strait would be blocked by the US Navy after efforts to reach a deal with Tehran failed.
According to reports, Pezeshkian said, “Trump says Iran cannot make use of its nuclear rights but does not say for what crime. Who is he to deprive a nation of its rights?”
Talks between the two countries are ongoing. While there is some optimism around a possible resolution, uncertainty and fears of escalation continue to jeopardise the region and investor sentiment. With the latest tensions, global markets and crude oil prices are expected to remain volatile.
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Trump described the recent engagement as “very good conversations” but pushed back strongly, stating that Iran cannot “blackmail” the US through the Strait of Hormuz.
The conflict, now entering its eighth week, has kept global markets on edge, with analysts warning of a potential economic slowdown, elevated fuel prices, and recession risks if tensions persist beyond mid-May.
Asian economies are particularly vulnerable as they rely heavily on the Strait of Hormuz for energy imports from West Asia, which supplies a significant share of crude oil and natural gas to the region.
According to analysts, stock markets are expected to react sharply to developments around the US-Iran ceasefire over the weekend, with crude oil prices also likely to rise.
The temporary two-week ceasefire agreed between Washington and Tehran is set to expire on April 22. Foreign investor activity is also expected to remain a key driver for domestic equities, with flows closely linked to global risk sentiment and crude oil price movements, according to a report by Moneycontrol.
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In the previous week, the BSE Sensex rose 943.29 points, or 1.21%, while the NSE Nifty gained 302.95 points, or 1.25%, supported by improving sentiment.