IRGC Spokesperson says we will not stop punishing the US until Iran's seven conditions are met; our missiles are capable of destroying America's multi-layered defenses, Fars reports

The distinction that has mattered in past episodes is between verbal threats and kinetic follow-through: crude has typically priced a modest risk premium on the former and only sustained a move when the latter touched physical flows, whether tankers, regional infrastructure, or shipping through the Strait of Hormuz, where the transmission runs through freight rates, insurance premia, and prompt spreads rather than flat price alone. Conditional demands framed as prerequisites for de-escalation have in previous rounds functioned as negotiating markers, and the tell has been whether back-channel contacts continue in parallel. The reference to penetrating layered air defenses is a recurring theme in Iranian military messaging and does not by itself change the operational picture. What bears watching is any movement in Hormuz transit traffic, tanker insurance quotes, and whether the rhetoric is matched by proxy activity or drills, since those have been the historically reliable escalation markers.