- Baghei added that this is a “war of necessity,” while stating that Iran did not initiate or start it.
- He also denied that Iran launched attacks on Turkiye, Cyprus, and Azerbaijan, adding that some of the attacks may have been “staged.”
- Meanwhile, crude oil prices soared on Monday, with the WTI and Brent crude futures scaling new 52-week highs.
Iranian Foreign Ministry spokesperson on Monday reportedly dismissed the possibility of ceasefire negotiations, calling them “irrelevant” amid the ongoing military confrontation with the U.S. and Israel.
According to an Al Jazeera report, Iranian Foreign Ministry spokesperson Esmaeil Baghaei provided details on the ongoing tensions, stating that Iran will continue to defend itself.
“As we speak, military confrontations are still underway. At this particular point, speaking of any matter other than defending our homeland is irrelevant,” he said during a press conference, according to the report.
He added that the U.S. and Israel want to fragment the country and take its “oil riches.”
Baghei Says This Is A War Of Necessity, Not Choice
Baghei added that this is a “war of necessity,” while stating that Iran did not initiate or start it.
“It is not a war of choice. It is a war of necessity that was imposed on us,” he said, according to the report.
He also denied that Iran launched attacks on Turkiye, Cyprus, and Azerbaijan, adding that some of the attacks may have been “staged.”
“We have warned repeatedly that the enemy may stage certain attacks to drive a wedge between us and other countries,” he said, amid the backdrop of attacks on 12 countries in the Middle East.
Crude Oil Prices Shoot Up
Meanwhile, crude oil prices shot up amid the intensifying tensions in the Middle East. The U.S. West Texas Intermediate (WTI) futures expiring in April soared to a new 52-week high of $119.43 a barrel before cooling down slightly to hover at $100 at the time of writing.
Brent crude futures expiring in May also rose to a new 52-week high of $119.46 a barrel before losing some steam to hover at $102.2.
Meanwhile, U.S. equities declined in Monday’s opening trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was down 0.97%; the Invesco QQQ Trust ETF (QQQ) fell 1%; and the SPDR Dow Jones Industrial Average ETF Trust (DIA) declined 1.04%. Retail sentiment on Stocktwits regarding the S&P 500 ETF was in the ‘bearish’ territory.
The United States Oil Fund ETF (USO) was up 12%, while the ProShares Ultra Bloomberg Crude Oil ETF (UCO) was up 12.38% at the time of writing.
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