Middle East Crisis: Iran Threatens Oil Blockade, Predicts $200 Per Barrel 

Middle East Crisis: Iran Threatens Oil Blockade, Predicts $200 Per Barrel 

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, and their allies amid rising tensions in the Middle East.

The warning was issued on Wednesday by Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya Central Headquarters, who also predicted that global crude oil prices could surge to $200 per barrel if the conflict in the region escalates further.

His statement comes a day after the President of the United States, Donald Trump, threatened Iran with “fire and fury” if it interfered with the flow of oil through the strategic waterway.

Zolfaqari said Tehran would not permit oil shipments through the strait if they were destined for the United States, Israel, or their allies.

“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.

“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.”

The Iranian military spokesperson also warned that attempts by the US and Israel to stabilise global oil prices would fail if the war in the region expanded.

“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,” Zolfaqari said.

Oil Market Shaken By Middle East Conflict

For more than a week, the global crude oil market has experienced what traders described as a “brutal wave of volatility” caused by the escalating conflict in the Middle East.

Crude oil prices surged past $100 per barrel on Monday, the highest level recorded since July 2022, before easing to around $87 on Tuesday as markets reacted to the developments.

Industry watchers say the uncertainty surrounding the conflict has heightened fears of supply disruptions from the Gulf region.

Earlier, Trump had warned Tehran against disrupting oil shipments through the strait, threatening severe retaliation.

According to him, “death, fire, and fury will reign upon them (Iran)” if the country attempts to halt the flow of oil through the vital waterway.

The exchange of threats between the two countries has further heightened tensions in the region.

Amid rising security risks, major container shipping companies suspended sailings through the Strait of Hormuz and the Suez Canal on March 2.

Shipping operators cited growing concerns over the safety of vessels navigating the key maritime routes. Naija News reports that the Strait of Hormuz is a narrow maritime passage linking the Persian Gulf to the Gulf of Oman and the Arabian Sea.

The waterway is widely regarded as one of the most strategically important shipping routes in the world because it serves as the primary sea passage through which oil and gas produced in the Gulf region reach global markets.

Any disruption to the route could therefore have far-reaching consequences for global energy supply and prices.

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