Iranian Parliament Speaker Mohammad Bagher Ghalibaf mocked the Trump administration over a 5.1% 10-year U.S. Treasury yield, warning that Iran could push the United States toward 1970s-style interest rates, high gasoline prices and diesel shortages. Economist Peter Schiff separately warned that a depleted Strategic Petroleum Reserve (SPR), the U.S. emergency crude-oil stockpile, could leave the country less protected during a future supply shock amid the Iran war. Diesel reached $9.999 per gallon in some California locations, while the American Automobile Association reported a national average of $6.5019 on Friday, down from $6.5141 on Thursday. Schiff also argued that a proposed diesel export ban could reduce domestic production and backfire. Iran’s Security Chief Mohsen Rezaee said the Strait of Hormuz would remain closed until the United States returned to conditions in a June Memorandum of Understanding, while officials discussed negotiations and aviation restrictions.