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Representative image showing an oil tanker under attack in the Strait of Hormuz as tensions involving Iran’s Islamic Revolutionary Guard Corps raise fears of a major supply disruption that analysts warn could push global oil prices toward $200 per barrel.

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Iran: Get ready for $200 oil. IRGC fires on more ships in the Gulf

Iran warned of $200 oil as IRGC forces attacked merchant ships in the Strait of Hormuz. The IEA ordered a record 400-million-barrel strategic reserve release.

March 12, 2026

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