Pakistan, May 1 -- Iran's leadership has strongly rejected US pressure over a reported naval blockade of its ports, as escalating tensions in the Gulf region pushed global oil prices to their highest level in years.

Read More: Trump weighs prolonged Iran blockade as tensions escalate sharply

In a statement broadcast on Iranian state television, Supreme Leader Ayatollah Ali Khamenei said the United States had suffered a "shameful defeat" in its regional strategy and claimed that Iran now held the upper hand in the ongoing crisis. He said a "new chapter" was unfolding in the Persian Gulf and the Strait of Hormuz following recent military developments.

Khamenei's remarks came after US President Donald Trump warned that a US naval blockade...