Iranian officials are closely monitoring developments in the “paper oil market,” Parliament Speaker Mohammad Bagher Ghalibaf said, using a term commonly used to describe trading in oil futures and other financial derivatives rather than physical crude.

“We are aware of what is happening in the paper oil market, including the firms hired to influence oil futures,” Ghalibaf wrote on X. “We also see the broader jawboning campaign.”

He suggested that financial maneuvering alone cannot address actual global fuel needs. “But let’s see if they can turn that into ‘actual fuel’ at the pump—or maybe even print gas molecules,” he said.

Who is Ghalibaf: With many of Iran’s top leaders killed in US-Israeli strikes, the 64-year-old has emerged as one of the most senior surviving civilian figures, part of a shrinking pool of officials now shaping the country’s response. President Donald Trump said Monday that the US was having “very strong talks” and was “dealing with the man who is most respected” in Iran, but declined to name him. Some reports said he was referring to Ghalibaf, who within hours denied there were any negotiations between Tehran and Washington.

CNN’s Tim Lister and Leila Gharagozlou contributed to this report.

President Donald Trump said today that Gulf allies have largely met his expectations amid the ongoing war with Iran, once again criticizing NATO countries as falling short.

“A little bit more on NATO,” Trump said when asked whether he wanted Gulf nations to do more. “I think our Gulf allies have been pretty good, to be honest.”

“UAE has been hit so hard,” he added.

Trump also praised several Gulf partners individually, including Saudi Arabia, the United Arab Emirates, Qatar and Kuwait.

“Qatar took a hit, pretty bad hit. Qatar is very close. You know, they essentially can walk right over the border,” he added.

Trump has previously called NATO allies “cowards” for not assisting the US in securing the strategically vital Strait of Hormuz, a key global shipping route for oil.

For Gulf Arab states, the conflict has reinforced long-standing concerns about Iran’s role in the region. The countries Trump named remain largely aligned in their pursuit of stability and economic growth, but their cities have absorbed the impact of Iranian missiles and drones, heightening security fears and deepening distrust toward Tehran

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