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Iran's $200 Oil Warning: Are Petrol and Diesel Prices Set to Soar?
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Iran Warns of $200 Oil, Global Petrol Prices to Skyrocket Amid Hormuz Tensions
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News18
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11-03-2026, 19:51
Iran Warns of $200 Oil, Global Petrol Prices to Skyrocket Amid Hormuz Tensions
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Iran's military command warns global oil prices could hit $200 per barrel due to escalating tensions in the Strait of Hormuz.
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Ibrahim Zolfaghari of 'Khatam al-Anbiya' stated Iran will target tankers linked to US or Israeli allies, calling it an 'economic blockade'.
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The Strait of Hormuz, through which 20% of world crude oil passes, faces disruption, threatening the biggest 'oil shock' since the 1970s.
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Recent attacks include the Thai cargo ship 'Mayuri Nari' en route to India, Japanese 'One Majesty', and Marshall Islands' 'Star Gwyneth'.
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Iran is deploying small boats to lay 'naval mines' and blames US and Israel for regional instability affecting oil prices.
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