Iran has warned that global oil prices could rise to as much as $200 per barrel amid escalating tensions in the Middle East and recent attacks in the Strait of Hormuz.
Iranian officials issued the warning as security concerns intensified following reports that three vessels were attacked in the strategic waterway on Wednesday.
Among the ships targeted was a Thai-flagged cargo vessel near Oman. The incident caused significant disruption to the flow of oil shipments moving through the region.
The Strait of Hormuz is one of the world’s most critical oil transit routes, with a large portion of global oil supply passing through the narrow passage between Iran and Oman.
According to Iranian military spokesperson Ebrahim Zolfaqari, oil prices are closely tied to security conditions in the region. He said the situation has been destabilized by actions involving the United States.
The warning comes as global energy authorities monitor the situation for possible impacts on oil supply.
Meanwhile, the International Energy Agency (IEA) is studying the possibility of releasing up to 400 million barrels of oil from global strategic reserves.
The move is being considered as a potential response to supply disruptions caused by tensions in the region.
However, the agency noted that the proposed reserve release would only be enough to sustain oil flows through the Strait of Hormuz for about three weeks.
Authorities and energy analysts continue to watch developments closely as security incidents in the region raise concerns about global oil supply and price stability.
