Iran Threatens Oil Tankers as $200/Barrel Price Risk Emerges
Iran has declared that it will not allow a single litre of oil to pass through the Strait of Hormuz for the benefit of the United States, Israel, or their allies, warning that escalating tensions in the Middle East could push global oil prices to as high as $200 per barrel.
Speaking on Wednesday, Ebrahim Zolfaqari, spokesperson for Iran’, s Khatam al-Anbiya military command headquarters, issued the warning amid rising hostilities between Tehran and Washington.
“And let us firmly reiterate that we will never allow even a single litre of oil to pass through the Strait of Hormuz for the benefit of the US, the Zionists, and their partners,” he said, according to a report by Iran International.
“Any vessel or oil shipment intended for America, the Zionist regime, or their hostile allies will be a legitimate target for us.
“Your strategy of hiding behind Iran’s neighbouring countries and the Muslims of the West Asia region, and even the world, has expired,” Zolfaqari added.
He also warned that the United States and Israel would be unable to artificially suppress global oil and energy prices if the conflict widens.
“With the expansion of war in the region, we have announced that you should prepare for $200 per barrel because the price of oil depends on security in the region, and you are the source of insecurity,” he said.
The threat comes a day after the US president, Donald Trump, warned that “death, fire, and fury will reign upon them (Iran)” if Tehran attempted to disrupt the flow of oil through the strategic waterway.
For more than a week, the international crude oil market has been experiencing what traders describe as a “brutal wave of volatility” triggered by the escalating Middle East conflict.
Crude oil prices surged past $100 per barrel on Monday, the highest level since July 2022, before easing to about $87 on Tuesday.
On March 2, major container shipping lines suspended sailings through the Strait of Hormuz and the Suez Canal due to growing security risks linked to the crisis.
The Strait of Hormuz is a narrow maritime corridor linking the Persian Gulf with the Gulf of Oman and the Arabian Sea.
It serves as the only sea route connecting the Gulf’s oil and gas producers to global markets, making it one of the world’s most strategically important energy transit chokepoints.