Iran Warns Oil Could Hit $200 per Barrel as Hormuz Threat Escalates

[people]

Source: OilPrice.com

Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S. and Israel continues to destabilize the Middle East’s energy corridors.

Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya military command headquarters, warned the world to “get ready for oil to be $200 a barrel,” arguing that regional security has been destabilized by the ongoing bombing campaign against Iran.

The $200 oil price tag warning follows a major Iranian drone strike on Wednesday on Oman’s largest oil storage facility.

Tehran also warned that no oil shipments will be allowed to pass through the Strait of Hormuz until the attacks stop, placing the world’s most critical oil chokepoint at the center of the escalating conflict.
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Read more: https://oilprice.com/Latest-Energy-News/World-News/Iran-Warns-Oil-Could-Hit-200-per-Barrel-as-Hormuz-Threat-Escalates.html

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DJT has no idea what to do and no plans on how to deal with this.

[at140]

1. I hate to guess what DJT will do when oil hits $200

His options become extremely limited. Nukes anyone?

[BaronChocula]

2. He'll just say

"We have oil down to $50 a barrel. Some say as low as $40 or $30 a barrel."

[Attilatheblond]

3. Look for the rest of the cabinet and most of the SCOTUS to move onto military bases

Scared of the mess they have made, they may have good reason to hide from the people paying for all their horrible mistakes.

[maxsolomon]

4. This planet runs on Oil & LNG.

Did they think they'd completely remove Iran's ability to choke off the Strait?

Fucking heedless idiots. Iran's been gaming this scenario for decades.

[doc03]

5. I don't know what to beleive depending on

what blogger or channel they are 180 degrees apart. One retired general talks like it is all but over and another says it will last for years. I guess it may be someplace in the middle. The news media is totally unreliable today, it is extreme bs on either side. We don't have any Walter Concrite today.

[Roy Rolling]

6. Oil currently trading at $87 in futures markets

Was $119/barrel Sunday night.

[NickB79]

7. I'm seeing WTI at $93.50 now

As of 10pm Wednesday, EST.