New Iranian Leader Gains Support as Oil Prices Rise
Iranian hardliners rallied Monday for new leader Mojtaba Khamenei. Global oil prices rose as the prospect of a long conflict unsettled energy markets.
Hardliners in Iran staged a significant show of force on Monday, taking to the streets to proclaim their loyalty to the new Supreme Leader, Ayatollah Mojtaba Khamenei. This consolidation of power has unsettled global markets as hopes for a swift conclusion to the Middle East conflict have diminished. The rise of the 56-year-old cleric, who maintains a strong power base within the security forces and their extensive business interests, has been met with a firm rejection by the United States. President Donald Trump has demanded an unconditional surrender, signaling that the ongoing war will continue until a compliant government is established in Tehran.
