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Tipsheet

Iran Threatens to Force Oil Prices Over $200 a Barrel

Iran Threatens to Force Oil Prices Over $200 a Barrel
AP Photo/Alex Brandon

Iran issued a direct threat on Wednesday, vowing to drive oil prices over $200 a barrel as Operation Epic Fury continues in the Middle East.

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Iran’s Islamic Revolutionary Guard Corps (IRGC) says it will not allow “a litre of oil” to pass through the Strait of Hormuz, and that any vessel linked to the United States or its allies “will be considered a legitimate target.”

“You will not be able to artificially lower the price of oil. Expect oil at $200 per barrel,” IRGC spokesperson Ebrahim Zolfaqari said. “The price of oil depends on regional security, and you are the main source of insecurity in the region.”

This comes only two days after President Trump warned Iran that if they do anything to interrupt the flow of oil through the Strait of Hormuz, "Death, Fire, and Fury will reign upon them."

"If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far," the president declared in a post on Truth Social. "Additionally, we will take out easily destroyable targets that will make it virtually impossible for Iran to ever be built back, as a Nation, again — Death, Fire, and Fury will reign upon them — But I hope, and pray, that it does not happen! This is a gift from the United States of America to China, and all of those Nations that heavily use the Hormuz Strait. Hopefully, it is a gesture that will be greatly appreciated. Thank you for your attention to this matter! President DONALD J. TRUMP"

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President Trump has yet to respond to Iran’s direct threat against global oil flows, though it remains unclear whether Tehran still has the capacity to significantly disrupt them. 

So far, the United States says Operation Epic Fury has sunk more than 60 Iranian vessels and struck over 5,500 regime targets. Given those losses, how much capability Iran retains to threaten the Strait of Hormuz remains an open question.

Editor's Note: For decades, former presidents have been all talk and no action. Now, Donald Trump is eliminating the threat from Iran once and for all. 

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