Get ready for $200 a barrel: Iran warns the world as oil on the boil
India Today
Iran's military command said the world should prepare for a big spike in oil prices. "Get ready for oil to be $200 a barrel, because the oil price depends on regional security which you have destabilised," Ebrahim Zolfaqari, spokesperson for Iran's military command, said in remarks directed at the United States.
The war stretching across the Middle East is now threatening to shake the global energy market. Iran has issued a stark warning that crude oil prices could surge to $200 per barrel as shipping lanes through one of the world’s most vital oil corridors remain under severe threat. Iran continued to fire missiles and drones at Israel and US military bases across the Middle East.
Iran’s military command said the world should prepare for a big spike in oil prices. "Get ready for oil to be $200 a barrel, because the oil price depends on regional security which you have destabilised," Ebrahim Zolfaqari, spokesperson for Iran’s military command, said in remarks directed at the United States.
Ebrahim Zolfaqari also warned that Iran will shift from limited "reciprocal strikes" to continuous relentless attacks against Israel and the US.
Iran’s warning came as the war with Israel and the US continued to intensify, with missiles, drones and naval attacks disrupting shipping through the Strait of Hormuz, which is a narrow maritime corridor that carries about one-fifth of the world’s oil supply.
The strait has effectively been blockaded as attacks on vessels increase. In the latest escalation, two vessels in the Strait of Hormuz were struck by Iranian forces, according to a statement from the Islamic Revolutionary Guard Corps reported by Iran’s state-affiliated Fars News Agency.
Meanwhile, three crew members from a Thai vessel that was hit by an unidentified projectile remain missing, Thailand’s Ministry of Transport said. Shipping companies have begun halting or rerouting vessels as the security situation deteriorates. Hundreds of oil tankers have been forced to remain anchored in surrounding waters as insurers and operators reassess the risks of passing through the corridor.
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