Iran warns of oil blockade as $200 price threat emerges
Iran has threatened to block oil shipments through the Strait of Hormuz, targeting the United States, Israel, and their allies. Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya military command, said any vessel or oil shipment intended for these countries would be considered a legitimate target. The warning comes amid heightened tensions in the Middle East and follows a surge in crude oil prices. Major shipping lines have also suspended sailings through the region due to security risks.
TLDR
- Ebrahim Zolfaqari declared that Iran will not allow oil to pass through the Strait of Hormuz for the US, Israel, or their allies.
- Iran warned that escalating conflict could push global oil prices to $200 per barrel.
- The US president, Donald Trump, threatened “death, fire, and fury” if Iran disrupts oil flow.
- Crude oil prices recently surged past $100 per barrel before dropping to about $87.
- On March 2, major container shipping lines suspended sailings through the Strait of Hormuz and the Suez Canal due to security risks.
