Oil surge drags US stocks lower as Iran tensions persist

Cargo trains from central China to Iran have risen from about one a week to one every three or four days since the US blockade began, Bloomberg reported, as Tehran seeks alternative routes to blunt maritime pressure.

The route crosses several sovereign states, including Kazakhstan and Turkmenistan, making it much harder for the United States to disrupt than Persian Gulf shipping lanes.

Directly targeting the overland network could widen the conflict and raise tensions with Beijing, which has spent years building trade routes that bypass maritime choke points dominated by the US Navy.

An Iran-backed Iraqi militia commander has been arrested and charged with plotting attacks on Jewish and American targets in the United States, including a New York synagogue, in alleged retaliation for the war against Iran.

Mohammad Baqer Saad Dawood Al-Saadi, described by prosecutors as a senior Kataib Hezbollah figure, is accused of helping coordinate at least 18 attacks in Europe and two in Canada since late February, while also seeking attacks in New York and Los Angeles.

The New York Times said it was unclear how he was arrested and brought to the US. He is expected to be presented in federal court in Manhattan on Friday.

Iran faces a daily gasoline shortage of 30 million liters, said a member of Iran’s parliamentary energy committee, warning that fuel consumption must be managed because production cannot be increased in the short term.

“Daily gasoline production in Iran is 105 million liters, while consumption stands at 135 million liters,” Reza Sepahvand said on Friday.

“Part of gasoline production has declined because of bombing during the war, and imports have also decreased,” he added.

A representative of Iran’s Supreme Leader in Alborz province said during Friday prayers in Karaj that Israel’s punishment should be its “annihilation,” while also calling for the United States to be punished.

“Punishment for the vile usurping Zionist regime is its annihilation from the face of time,” Mohammad-Mahdi Hosseini Hamedani said, adding that “punishing America means ensuring it no longer dares to attack any of the oppressed people of the world.”

The cleric said Iran must continue fighting “sedition” and prevent its enemies from rebuilding their strength, according to remarks carried by state media.

France said its Charles de Gaulle aircraft carrier is operating near the Middle East but not inside the Strait of Hormuz right now, stressing that its mission is defensive and aimed at protecting freedom of navigation.

Speaking to BFMTV, French Minister Delegate to the Minister of the Armed Forces Alice Rufo said the carrier had passed through the Suez Canal and Red Sea and was “on station,” giving France the ability to monitor developments and maintain diplomatic leverage in the region.

“We want to restore freedom of navigation in the Strait in a way that is entirely defensive and in line with international law,” she said.