In a post on his X account on Thursday, Mohammad Baqer Qalibaf used a series of cryptic references to US Treasury yields, oil futures and the SPR, telling US Treasury Secretary Scott Bessent to “short harder” and warning that continued withdrawals from strategic reserves could create serious problems for the underground salt caverns used to store US oil.
“OQX26|USGG10YR|DOESSPR,” he wrote.
“Short harder, champ. Like your career depends on it (because it does). Or drain below the danger zone and watch your caverns collapse (along with your career). Or pray to the salt gods of Bryan Mound,” Qalibaf reminded Bessent.
“The world's already got its popcorn :),” he added.
Qalibaf’s remarks refer to the US administration’s efforts to push down long-term Treasury yields through debt-market interventions, while the depletion of the SPR amid disruptions caused by the war against Iran and the Strait of Hormuz has raised concerns over the sustainability and safety of further withdrawals.
Qalibaf specifically referred to Bryan Mound, a major SPR storage site in Texas, and sarcastically suggested that Washington may have to “pray to the salt gods” to prevent problems at its storage facilities.
The Iranian Parliament speaker also pointed to oil futures prices remaining elevated despite US efforts to influence market expectations, arguing that the combination of high oil prices, depleted strategic reserves and rising Treasury yields has created a difficult situation for the Trump administration and Bessent.