Iran Threatens Oil Shipments, Prices May Hit $200/Barrel

Ebrahim Zolfaqari, spokesperson for Iran's Khatam al-Anbiya Military Command, issued a warning that Iran will not allow a single liter of oil to pass through the Strait of Hormuz if it benefits the United States and its ally, Israel. This statement reflects escalating tensions in the Middle East, which could lead to a significant increase in global oil prices, potentially reaching $200 per barrel.

Zolfaqari emphasized that the U.S. and Israel would not be able to suppress global energy prices as the conflict expands. The warning follows a period of heightened volatility in the international crude oil market, with prices surging past $100 per barrel, the highest since July 2022.

Additionally, major shipping lines have suspended operations in the Strait of Hormuz due to growing security risks linked to the crisis. U.S.

President Donald Trump has also warned Iran of severe consequences if it disrupts oil flow through this strategic waterway.