Iran’s military command on Wednesday warned the world to prepare for oil prices reaching $200 a barrel, as tensions escalated in the Gulf following attacks on several ships, reports Reuters.
The spokesperson for Iran’s military, Ebrahim Zolfaqari, said the warning was directed at the United States, stating that oil prices depend on regional security, which the US and its allies have destabilised.
The remarks came as Iran fired at Israeli and other Middle Eastern targets, showing that it retains the ability to retaliate and disrupt energy supplies despite what the Pentagon has described as the most intense US-Israeli strikes yet.
Earlier this week, oil prices surged amid fears of supply disruptions but have since eased, while stock markets rebounded, with investors betting that US President Donald Trump may seek a quick resolution to the conflict.
However, there has been no relief on the ground. Shipping through the Strait of Hormuz, a key channel that carries about a fifth of the world’s oil, remains blocked, creating the worst disruption to energy supplies since the oil shocks of the 1970s.
Zolfaqari also warned that Iran could target banks that conduct business with the US or Israel, advising people across the Middle East to stay at least 1,000 metres away from such banks.
According to senior Israeli officials speaking to Reuters, Israeli leaders privately acknowledge that Iran’s ruling system could survive the war, while US forces have not yet shown any sign of halting operations.
Bd-Pratidin English/ AM
