Cyprus Times

Iran Warns of $200 Oil Price, Threatens Attacks on Rivals

Published March 11, 2026, 14:07
Iran Warns of $200 Oil Price, Threatens Attacks on Rivals

Iran has issued new warnings about a potential surge in oil prices to $200 per barrel, linking it to the instability caused by its rivals in the region. A spokesperson for Tehran's military command stated that Iran will move to "lasting strikes" against its opponents and that the US will be unable to control oil prices. They also warned that any ship or tanker connected to the US, Israel, and their allies would be considered a legitimate target. The announcement comes amid a period of heightened tension in the region, against the backdrop of tensions around the Strait of Hormuz, a critical maritime route for global oil trade. The price of WTI oil rose by 5% following the warning, reaching $88 a barrel, although it remains below the higher levels it reached earlier this week. The initial rise in oil prices, which had approached $120 a barrel, subsided after statements by President Trump suggesting that the war was "almost" over. However, Iran's warning rekindles fears of disruptions to oil supplies. Iran's statement underscores the growing concern for maritime security in the region and the potential for further escalation of tensions. The threat to target ships connected to the US and Israel could have serious consequences for the global economy and energy security.