I AM following with keen interest the developments in oil prices and the global market rates in light of the political and military developments in the Arab Gulf region arising out of the tensions between the United States and Iran.

The bellicose statements emanating from both sides and the growing military build-up in the region should have been naturally reflected in oil prices and would have led to a dramatic rise but what happened was quite the opposite. In fact, the price of a barrel of oil fell significantly. This cannot be overlooked.

What could this mean? As a matter of fact, there are tools which are being used against the Iranian regime, which misused its resources to export terrorist revolution around the region. The regime created militias and criminals, threatening different countries and its neighbors. Therefore, more pressure is being exerted on the regime by choking its oil export to hurt it economically and the subsequent military action against it is not ruled out if the situation so warrants.

The crisis of Iran’s economic system has become a reality. As result of the enormous pressure, the regime is not able to get the economic support, particularly from oil commodities as it used to, and this explains the huge queues at petrol stations in all Syrian cities.

It also reflects on the development in Hezbollah. The terrorists have returned to their old method of begging and soliciting donations in their areas of influence, while not forgetting to change the tone of their rhetoric. The leaders of the terrorist organization in their speeches are narrating the hardship and calling for aid and financial support.

Reducing the price of oil seems to be an important mechanism and a deadly weapon in America's arsenal of choices.

Today, there are two options before the regime in Iran, both of which are bitter. The first calls for accepting all American conditions which will be humiliating for the Iranian leaders — who boast of being uncompromising in face of growing American threats and their ability to confront and defeat the opponent — in front of the their people. Therefore, the rejection of these conditions will mean the willingness to receive a military strike from the greatest military in the world.

The pain of the deteriorating economic situation in Iran is the most important and dangerous challenge, and the damage is more serious than the military strike.

Wars have different forms, and that is why all kinds of weapons are being used. The pain suffered by the Iranian regime is a delicate issue affecting all aspects of life. Oil is the lifeline of the regime, and with the successive exit of international from the Iranian market has aggravated the situation and increased the plight.

Iran should return to the international community as a law-abiding state or become a formal and rogue state like North Korea and Cuba. The price of petroleum is an important element in understanding and knowing what is happening.