WANA (Sep 11) – Mohammad Bagher Ghalibaf, head of Iran’s negotiating team, said that US financial interventions and measures by the US Treasury Department were no longer effective in containing oil prices, as Brent crude rose above $105 per barrel.

 

In a post on his X account, Ghalibaf shared a chart showing the upward trajectory of oil prices and argued that the US Treasury would deploy a range of tools to try to control prices, including releasing oil reserves, intervening in the market and disseminating information, but that such measures would fail to bring prices down.

 

He urged energy market participants to look at market trends rather than relying on statements from US economic officials when assessing the outlook for oil prices.

 

Ghalibaf also referred to comments by Kevin Warsh, the current chairman of the US Federal Reserve, regarding the central bank’s approach to forward guidance, a policy tool used to shape market expectations about the future course of monetary policy.

 

His comments came as Brent crude surpassed $105 per barrel, drawing renewed attention to rising oil prices and the outlook for global energy markets.