Iran has told the world to be prepared, saying the price of crude oil could reach $200 per barrel.
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Iran has warned the world to brace for a potential oil price of $200 a barrel. The Iranians said this after three more ships were attacked in the blockaded Gulf. A barrel contains about 159 liters of oil.
The US has accused Iran of laying sea mines around the Strait of Hormuz. Among the ships destroyed in the US attack on Tuesday were minelayers, the US Central Command (Centcom), which oversees the Middle East, said.
Oil prices, which reached nearly $120 on Monday, are now trading around $90. The fall in prices has signaled that investors are optimistic that Trump will be able to stop the war and open the Strait of Hormuz. But governments are still discussing tougher measures. There is no sign of a cessation of hostilities, and there is no basis for ships to safely navigate the narrow Strait of Hormuz. One-fifth of the world's oil is transported through this waterway. Which has been blockaded due to the Iran-Israel war.
Iran's military command spokesman Ibrahim Zolfaghari told the US, 'Get ready for oil prices to reach $200 per barrel.' Although oil prices depend on regional security, they are currently unstable.'
