Full Breakdown
Iran's Military Command Warns of $200 Oil Amid Ongoing Conflict
3/11/2026, 8:09:16 PM
Escalation of Military Actions
On March 11, 2026, Iran's military command announced a shift from "reciprocal hits" to continuous strikes against adversaries, emphasizing that the United States and its allies would not be able to control oil prices. Ebrahim Zolfaqari, spokesperson for the Khatam al-Anbiya military command, stated, "Get ready for the oil barrel to be at $200 because the oil price depends on the regional security which you have destabilised." This warning comes amid ongoing military actions, including attacks on Israel and other targets across the Middle East.
Impact on Oil Prices and Global Markets
The conflict has already led to significant fluctuations in oil prices. Brent crude futures, which had briefly surged to nearly $120 a barrel earlier in the week, settled around $90 following Zolfaqari's comments. Analysts suggest that the instability in the region could lead to further increases in gas prices for consumers, with predictions of prices reaching $4 to $5 per gallon in the coming weeks. The International Energy Agency is reportedly considering a release of 400 million barrels from global strategic reserves to mitigate the crisis, although this would only cover a fraction of the oil flow through the Strait of Hormuz.
Ongoing Attacks and Regional Security Concerns
Iran's military actions have included missile strikes on U.S. bases in Iraq and naval targets in Bahrain, as well as attacks on merchant ships in the Gulf, raising the total number of vessels hit since the conflict began to 14. The Strait of Hormuz, a critical passage for global oil transport, remains blockaded, marking the most severe disruption to energy supplies since the oil shocks of the 1970s. Zolfaqari also warned that any vessel bound for the U.S. or Israel would be considered a legitimate target.
Criticism and Opposition
The ongoing military campaign has drawn mixed reactions. A senior Israeli official indicated that Israeli leaders now privately accept that Iran's ruling system could survive the conflict. Meanwhile, U.S. President Donald Trump has threatened to escalate military actions against Iran if it continues to blockade the Strait of Hormuz. Critics argue that the prolonged conflict poses significant risks to the global economy, particularly if it results in Iran's clerical regime emerging intact.
Official Statements & Responses
In response to the escalating violence, Iran's police chief, Ahmadreza Radan, warned that anyone protesting against the government would be treated as an enemy. Concurrently, Israel's Defense Minister, Israel Katz, stated that military operations would continue indefinitely until all objectives are met. The situation remains fluid, with no clear resolution in sight.
Conflicting Reports & Gaps
Reports regarding the impact of the conflict vary, particularly concerning casualties and the effectiveness of military operations. While Iranian strikes have reportedly resulted in at least 11 deaths in Israel and two Israeli soldiers killed in Lebanon, U.S. officials have reported seven American soldiers killed and around 140 wounded. The lack of consistent information complicates the understanding of the conflict's full scope.
Verbatim Quotes
- "Get ready for oil to be $200 a barrel, because the oil price depends on regional security which you have destabilised." — Ebrahim Zolfaqari, Spokesperson for Iran's Military Command
- "The operation will continue without any time limit, as long as required, until we achieve all objectives and win the campaign." — Israel Katz, Israeli Defense Minister
- "Anyone taking to the streets will be treated as an enemy, not a protester." — Ahmadreza Radan, Iranian Police Chief
