Trump Threatens 'Another Little Epic Fury', Iran Closes Persian Gulf: Oil at $116 as the World Sleepwalks Toward Catastrophe

The powder keg in the Persian Gulf is smoking. On October 24, Iran’s armed forces issued a stark ultimatum: no US warships will be allowed in the Persian Gulf “under any circumstances.” The statement was categorical, leaving no room for negotiation.

President Donald Trump, speaking at a rally in Florida the same day, said: “We may do another little Epic Fury.” Epic Fury is the joint US-Israeli military campaign against Iran that started on February 28, 2026. The “little” qualifier sounds like sarcasm — the stakes are anything but small.

The Houthis, Iran’s proxies in Yemen, didn’t wait. Their spokesman Yahya Saree claimed seven operations against Saudi targets on October 24 alone. The list includes King Khalid International Airport in Riyadh, King Fahd International Airport in Dammam, Aramco facilities in Yanbu and Rabigh, and the East-West pipeline. The Saudi-led coalition confirmed intercepting two ballistic missiles, with debris falling in the Mecca, Medina, Jeddah, and Taif regions.

The UK, meanwhile, deployed RAF Typhoon jets to defend Saudi Arabia last week. The conflict is spreading across the Arabian Peninsula like wildfire.

The economic front: numbers that hit your wallet

Brent crude closed at $116.72 a barrel on October 23 — the highest since April. That’s a 6.2% weekly gain. WTI topped $103. Since the war began on February 28, Brent has risen 60%. The average US gasoline price is $4.29 per gallon; diesel is $6.31.

But the real nightmare is still ahead. Before the war, roughly a fifth of the world’s oil passed through the Strait of Hormuz. Iran hasn’t explicitly said it will block the strait, but closing the Persian Gulf to US warships is a step in that direction. If the strait is shut, oil prices will skyrocket. Deutsche Bank reports that attacks on energy vessels in October are at the highest level since the war began.

What this means for Ukraine — and the world

For Ukrainians, higher global oil prices mean higher fuel prices at home — and more expensive logistics, goods, and pressure on the state budget. All this while the country is fighting a war.

Beyond economics, the escalation in the Middle East diverts Western attention and resources. The US State Department is reducing staff at four embassies in the region due to intelligence about Iranian “advanced stages” of planning attacks on Americans, as DNI Jay Clayton warned. Every missile and every dollar spent in the Gulf is one less for other theaters — including Ukraine.

Who’s bluffing?

Trump is playing to his base two weeks before the midterms. “Another little Epic Fury” sounds tough, but he also hasn’t ruled out a “beautiful deal” with Iran. Iran’s Foreign Minister Abbas Araghchi responded: “Regardless of whether there is war, our policy remains unchanged.” No weakness.

The Houthis deny hitting Mecca and Medina, claiming they only target military and oil sites. But debris from intercepted missiles fell in the holy cities, as confirmed by Saudi civil defense. The information war is running parallel to the missile one.

What’s next? No one knows. Trump hasn’t ruled out a strike as early as Sunday, October 25. Iran isn’t backing down. The Houthis are escalating. Oil is rising. The world is sleepwalking toward a cliff — and this time, the fall might be much deeper.

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