By Juliet Ezeh
Iran has warned that escalating tensions in the Middle East could push global oil prices to $200 per barrel, raising fears of a major energy shock and disruption to global markets.
Global energy markets are facing renewed uncertainty after Iran warned that escalating tensions in the Middle East could send crude oil prices soaring to as high as $200 per barrel.
The warning came from Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya Central Headquarters, who said the stability of global oil prices now depends heavily on security conditions in the region.
According to him, any expansion of the ongoing geopolitical conflict could trigger a major energy shock capable of disrupting supply chains and pushing crude oil prices to unprecedented levels.
Energy analysts say the threat has already rattled the global crude market, which has experienced sharp volatility in recent days due to rising tensions involving Iran, the United States and Israel.
The situation escalated after Donald Trump warned that Iran would face severe consequences if it attempted to interfere with oil shipments through the Strait of Hormuz, one of the world’s most important energy transit routes.
Traders noted that the uncertainty has already pushed crude oil prices above $100 per barrel earlier in the week, the highest level recorded since mid-2022, before prices later eased slightly.
Shipping activity in the region has also been affected, with several major container shipping companies suspending sailings through the Strait of Hormuz and the Suez Canal due to rising security concerns.
The strategic waterway connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, serving as the main export corridor for oil and gas produced by Gulf countries to international markets.
Energy experts warn that any disruption to the route could significantly reduce global oil supply, potentially triggering higher fuel prices, inflationary pressures, and economic shocks across multiple regions.
Juliet Ezeh is the founder and chief reporter at Westbridge Reporters with over 7 years of experience in journalism. She covers crime, industry, policy, and social developments, delivering timely and accurate reporting.