Iran Warns Oil Could Hit $200 per Barrel as Hormuz Threat Escalates [View all]

Source: OilPrice.com

Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S. and Israel continues to destabilize the Middle East’s energy corridors.

Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya military command headquarters, warned the world to “get ready for oil to be $200 a barrel,” arguing that regional security has been destabilized by the ongoing bombing campaign against Iran.

The $200 oil price tag warning follows a major Iranian drone strike on Wednesday on Oman’s largest oil storage facility.

Tehran also warned that no oil shipments will be allowed to pass through the Strait of Hormuz until the attacks stop, placing the world’s most critical oil chokepoint at the center of the escalating conflict.
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