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Iran reportedly warns the world to “get ready" for $200 oil barrels
- Iran's military command spokesperson Ebrahim Zolfaqari warned Wednesday, according to Reuters, to 'Get ready for oil to be $200 a barrel' after three more ships were hit in the Persian Gulf.
- The war that began on Feb. 28, 2026 has hindered production and shipping, with a March 7 oil depot fire in Tehran and strikes on vessels including a Thai-flagged cargo ship.
- Markets saw crude briefly near $120 on Monday, with Brent crude futures around $90 and West Texas Intermediate just under $86, while the International Energy Agency agreed to release 400 million barrels and G7 energy ministers backed strategic reserves use.
- Iran warned it will bar oil shipments through the Strait of Hormuz until U.S. and Israel stop bombing and said no oil will reach them, while analysts say $200 oil could push U.S. gas prices above $5 a gallon from $3.57.
- Around the globe, roughly 20% of oil flows pass through the Strait of Hormuz, and G-7 heads will discuss stockpile releases as prices have risen at least 50% since the war started.
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Despite Trump's statements about a possible end of the war, there was no road or sign that ships could safely sail back by the Ormuz Strait.
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Iran warned this Wednesday that it will not be possible to lower the price of oil by "artificial measures".
He said that any ship passing through the Strait of Hormuz would be a legitimate target.
Coverage Details
Total News Sources34
Leaning Left4Leaning Right4Center7Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 27%
C 46%
R 27%
Factuality
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