Beirut (CNN) Hezbollah's leader warned the United States against striking Iran, saying if it does "the entire region will burn."

US President Donald Trump "knows that when the region is on fire, a barrel of oil will be $200 or $300," Hassan Nasrallah, the head of the Iran-backed Lebanese militant group, said Friday during a televised speech.

"The US knows well that any war on Iran will not remain confined to Iran's borders. The entire region will burn, leading to all US forces and interests in the region to be annihilated."

Nasrallah's comments came the same day Saudi Arabia called an emergency meeting of the Arab League, the Gulf Cooperation Council and the Organization of Islamic Cooperation to counter what it says is Iran's growing influence in the region.

Tensions between the Washington and Tehran have steadily escalated since the US withdrew from a nuclear deal with Iran and slapped it with new sanctions. But the war of words hit critical mass this month when US National Security adviser John Bolton blamed Iran for the attack on four oil tankers at a port in the UAE.

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