“Get ready for oil to be $200 a barrel, because the oil price depends on regional security, which you have destabilised.

 

“Get ready for oil to be $200 a barrel, because the oil price depends on regional security, which you have destabilised.”

This statement was made on March 11, 2026, by Ebrahim Zolfaqari, the spokesperson for Iran's military command.

Zolfaqari addressed these comments to the United States amid an escalating conflict involving U.S. and Israeli airstrikes against Iran. He warned that global oil prices could surge to $200 a barrel as a direct consequence of regional instability and Iranian forces targeting merchant ships in the Strait of Hormuz.

 

Current Market Impact (As of March 12, 2026)

Price Volatility: Crude oil prices spiked to nearly $120 earlier in the week but have since settled around $90 as investors monitor the potential for a swift end to the conflict.

Emergency Response: To counter the threat of a $200 price tag, the International Energy Agency (IEA) has recommended a record release of 400 million barrels from global strategic reserves.

Military Threats: Iran has also vowed to target economic centers and banks linked to U.S. or Israeli interests, advising civilians to stay at least 1,000 meters away from such institutions.