Iran Warns of Potential $200 per Barrel Oil Prices as It Attacks Merchant Ships

Military operations in the region have significantly impacted the oil and gas industry.

Iranian Revolutionary Guards patrol around the British-flagged tanker Stena Impero off the Iranian port city of Bandar Abbas, in this file photo. Hasan Shirvani/AFP/Getty Images

Iran’s military command warned the world to prepare for oil prices to double as it struck three commercial vessels near the Strait of Hormuz.

“Get ready for oil to be $200 a barrel, because the oil price depends on regional security which you ​have destabilized,” Ebrahim Zolfaqari, spokesperson for Iran’s military command, said on March 11.