Iran has warned that no oil may pass through the Strait of Hormuz if attacks against the country continue, cautioning that global oil prices could surge to $200 per barrel.
The warning comes amid escalating tensions in the Middle East following recent military strikes involving the United States and Israel and Iran’s retaliatory actions across the Gulf.
Iranian officials said the strategically vital waterway could be closed to oil shipments if the conflict intensifies, raising concerns over disruptions to global energy supplies.
The Strait of Hormuz, located between Iran and Oman, is one of the world’s most important oil transit routes, with nearly one-fifth of global oil supplies passing through the narrow shipping lane each day.
Any disruption to traffic through the strait could trigger a sharp spike in global oil prices and significantly impact international energy markets.
Oil prices have already climbed above $100 per barrel amid fears that the widening conflict could threaten energy infrastructure and shipping routes in the Gulf. (Newswire)
