Iran Expects $200 Price Tag for Passing Strait of Hormuz Oil Shipments

As the closure of the Strait of Hormuz continues, Iran’s IRGC warns that vessels linked to the US and Israel will be targeted. Global oil prices surge amid the ongoing US-Israeli war on Iran, with concerns over disruptions to oil supplies. In response, the IEA announces the release of 400 million barrels of oil from emergency reserves to stabilize markets.

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