Iran warns world to brace for $200 oil as Gulf war rattles energy markets

Iran warns oil prices could reach $200 a barrel as conflict with the US and Israel disrupts Gulf shipping routes and global energy supplies. Iranian forces struck merchant vessels in the Gulf, raising safety concerns and prompting the IEA to recommend releasing 400 million barrels from reserves. The Strait of Hormuz remains a flashpoint, with mines reported and commercial shipping disrupted, as G7 nations consider naval escorts for ships.